The Nigerian insurance sector witnessed remarkable market activity last week, with insurance carriers, brokers, and services executing 9,462 deals, valued at over ₦3.11 billion, signaling growing investor confidence in the industry.
Sovereign Trust Insurance Plc (SOVRENINS) stood out as a key mover, trading 73.87 million shares valued at ₦228 million, while Universal Insurance Plc (UNIVINSURE) led in volume, exchanging 119.83 million shares worth ₦142.76 million. Other notable performers included Mutual Benefits Assurance Plc (MBENEFIT) and Consolidated Hallmark Holdings Plc (CONHALLPLC), recording trades valued at ₦137 million and ₦1.93 billion, respectively.
Market analysts attribute the strong performance to recent regulatory reforms that have strengthened corporate governance, boosted operational transparency, and enhanced capital adequacy across the sector. These reforms are gradually restoring investor confidence and encouraging higher participation in insurance stocks.
Commenting on the trading activity, Mr. Segun Omosehin, Commissioner for Insurance, said:
“The recent surge in trading activity demonstrates renewed confidence in Nigeria’s insurance sector. Investors are recognizing the sector as a long-term avenue for wealth creation.”
Smaller insurers such as Guinea Insurance Plc (GUINEAINS) and Prestige Assurance Plc (PRESTIGE) are also gaining traction, reflecting broader, inclusive growth across the industry. Meanwhile, AIICO Insurance Plc (AIICO) traded 40 million shares valued at ₦155 million, consolidating its position as a prominent player in the market.
According to the Nigerian Stock Exchange, the insurance segment contributed significantly to the financial services sector’s overall trading activity last week, highlighting the sector’s importance in Nigeria’s evolving capital markets.
Major Movers in the Insurance Sector:
| Company | Symbol | Deals | Price (₦) | Volume Traded | Value (₦) |
|---|---|---|---|---|---|
| AIICO Insurance Plc | AIICO | 1,786 | 3.80 | 40,094,235 | 155,316,357 |
| Consolidated Hallmark Holdings Plc | CONHALLPLC | 563 | 3.96 | 510,578,236 | 1,930,571,637 |
| Sovereign Trust Insurance Plc | SOVRENINS | 746 | 3.04 | 73,871,928 | 228,073,138 |
| Universal Insurance Plc | UNIVINSURE | 663 | 1.18 | 119,832,976 | 142,765,336 |
As the Nigerian insurance sector continues to grow, experts predict sustained trading momentum, fueled by innovative insurance products, digital platforms, and increasing investor interest in both retail and institutional markets.
Nigeria’s insurance sector records ₦3.1 billion in trades as top carriers and brokers drive market activity. See major movers, expert insights, and market trends.
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