The insurance segment of the Nigerian Exchange Limited (NGX) ended the week with significant gains as investors exchanged about 2.1 billion shares worth N6.2 billion, primarily driven by activities in 17 insurance companies.
AIICO Insurance topped the trading chart, recording 236.96 million shares valued at N995.88 million across 4,691 deals. It was followed by Mutual Benefits Assurance, which saw 204.7 million shares worth N879.2 million change hands.
Universal Insurance was the most active in terms of volume, with 434.2 million shares worth N559.1 million across 2,258 transactions, while AXA Mansard Insurance traded 33.2 million shares worth N554.2 million in 1,378 deals.
Other notable performers included:
Lasaco Assurance – 123.2 million shares worth N457.4 million in 1,197 deals
Linkage Assurance – 156.5 million shares valued at N390.8 million across 1,278 transactions
Veritas Kapital Assurance – 185.7 million shares worth N389.5 million in 1,943 deals
Sovereign Trust Insurance – 124.1 million shares valued at N355.9 million across 1,348 transactions
Prestige Assurance – 153.5 million shares worth N302.8 million in 1,106 deals
WAPIC Insurance – 76.1 million shares worth N259.6 million in 1,199 transactions
Nem Insurance – 8.1 million shares worth N220.1 million in 866 deals
Regency Alliance Insurance – 128.9 million shares valued at N183.93 million in 1,009 deals
Consolidated Hallmark Insurance – 39.7 million shares worth N172.6 million in 931 deals
Cornerstone Insurance – 19.6 million shares worth N144.1 million across 717 transactions
Guinea Insurance – 83.1 million shares valued at N140.6 million in 1,231 deals
Sunu Assurances – 19.4 million shares worth N123.46 million in 1,290 transactions
International Energy Insurance – 10.7 million shares valued at N36.7 million across 348 deals
Commenting on the development, David Adonri, Vice President at Highcap Securities, said the industry has not witnessed such an impressive rally since before the global financial crisis.
He attributed the renewed interest to the signing of the Nigerian Insurance Industry Reform Act (NIIRA 2025) by President Bola Tinubu, describing it as a catalyst for growth.
However, Adonri observed that the momentum briefly slowed when NAICOM announced a new recapitalisation exercise, though the market has since picked up.
According to him, investors view NIIRA 2025 as a “game changer” that could transform the insurance industry through stronger policy frameworks. He advised operators to leverage this window to improve public trust, strengthen governance, enhance shareholder value, and prepare for anticipated public offerings linked to recapitalisation.
He added that insurance remains a critical component of the financial services sector, facilitating savings mobilisation that drives investments and economic growth.
