The Nigerian equities market witnessed mixed performances in the insurance segment this week, according to the traded data released for the weekend revealed with a blend of gains and losses across key players amid heightened trading activity.
Guinea Insurance Plc emerged as the top gainer, rising by 8.70% to close at ₦0.75, supported by a trading volume of 4.1 million shares across 57 deals. The gain reflects a renewed investor interest in low-priced stocks with growth potential.
In contrast, Sunu Assurances Nigeria Plc posted the steepest decline, falling 8.62% to ₦4.56, despite recording 114 trades and a volume of 2.5 million shares. The sharp drop signals a correction following previous rallies, with traders likely locking in profits.
AXA Mansard Insurance Plc, the sector’s largest by market capitalization at ₦87.3 billion, recorded a 1.57% increase to close at ₦9.70, trading over 1.8 million shares in 84 deals. Likewise, AIICO Insurance Plc gained 0.63%, ending the week at ₦1.60 with nearly 10 million shares exchanged across 221 trades—highlighting sustained investor confidence in the insurer’s fundamentals.
On the losing side, NEM Insurance Plc suffered a notable 5.03% decline to close at ₦17.00, despite a strong market cap of ₦85.3 billion. The stock recorded 99 trades and a volume of 1.7 million shares, reflecting selling pressure from cautious investors.
Other decliners included International Energy Insurance Plc (-2.42%), Universal Insurance Plc (-3.70%), and Regency Assurance Plc (-3.03%), all of which saw moderate trading activity and price corrections.
Conversely, Sovereign Trust Insurance Plc posted a 5.50% gain, closing at ₦1.15 on the back of strong investor interest, with 145 trades and a volume of over 14.2 million shares. Mutual Benefits Assurance Plc also advanced 2.86% to ₦1.08, trading close to 3.8 million shares.
Coronation Insurance Plc led the sector in volume, moving 24.3 million shares in 89 deals, although its price dipped 1.00% to ₦2.00. Lasaco Assurance Plc and Linkage Assurance Plc recorded steady volumes, closing at ₦3.00 and ₦1.50 respectively, with minor price fluctuations.
Meanwhile, African Alliance Insurance Plc, Fortis Global Insurance Plc, and Staco Insurance Plc recorded no trades, indicating inactivity in those stocks for the week.
In total, the insurance sector accounted for 1,397 trades, with a cumulative volume of 111.5 million shares, reflecting robust activity and investor focus on select counters within the segment.
Analysts attribute the mixed performance to a combination of sectoral reforms, expectations around half-year results, and broader macroeconomic conditions. With NAICOM’s ongoing regulatory push and rising awareness of insurance as a tool for risk management, investor sentiment remains cautiously optimistic.
Looking ahead, market watchers expect earnings season to drive further revaluation of insurance equities, particularly for firms with strong capitalization, claims performance, and digital distribution strategies.
Stay informed, stay ahead with The Ameh News
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
