Trading activity in Nigeria’s insurance sector remained strong yesterday, with 18 listed insurers on the Nigerian Exchange Limited recording significant share transactions and turnover.
AIICO Insurance Plc led the market with 41.87 million shares traded across 2,211 deals, generating a turnover of approximately ₦173 million at a share price of ₦4.14. Sovereign Trust Insurance Plc followed, exchanging 136.35 million shares in 1,068 deals, worth roughly ₦276 million at ₦2.06 per share, while Coronation Insurance Plc (WAPIC) recorded 101.2 million shares traded across 397 deals, amounting to ₦319 million in turnover at ₦3.15 per share.
Other insurers that saw notable market activity included:
Mutual Benefits Assurance Plc, trading 44.9 million shares worth ₦205 million.
NEM Insurance Plc, with 7.6 million shares totaling ₦256 million.
AXA Mansard Insurance Plc, exchanging 7.1 million shares valued at ₦108 million.
Veritas Kapital Assurance Plc, trading 41.05 million shares for ₦88.7 million.
Mid-tier performers included Linkage Assurance Plc (19.94 million shares, ₦30.56 million), Regency Assurance Plc (28.2 million shares, ₦32.96 million), and Universal Insurance Plc (28.53 million shares, ₦37.04 million). Smaller but active insurers included Fortis Global Insurance Plc (86.95 million shares, ₦114 million), Lasaco Assurance Plc (11.57 million shares, ₦26.09 million), Prestige Assurance Plc (13.89 million shares, ₦22.12 million), Sunu Assurances Nigeria Plc (1.26 million shares, ₦5.55 million), Guinea Insurance Plc (8.12 million shares, ₦10.75 million), and International Energy Insurance Plc (1.74 million shares, ₦5.26 million).
Additionally, Consolidated Hallmark Holdings Plc recorded 8.88 million shares traded for ₦43.67 million, while Cornerstone Insurance Plc saw 9.21 million shares change hands for ₦51.29 million.
Overall, the insurance subsector recorded 11,637 deals, trading nearly 600 million shares valued at ₦1.8 billion, reflecting strong investor confidence and sector resilience.
During a recent media parley at Radisson Blu Hotel, Ikeja, Lagos, Mr. Olusegun Ayo Omosehin, Commissioner for Insurance and CEO of NAICOM, provided updates on the National Insurance Industry Reform Acts (NIIRA) 2025. He disclosed that the regulatory exercise has entered the verification stage, with 20 insurers currently undergoing rigorous assessment by global auditors to ensure compliance with reform requirements.
“The verification process is crucial to ensure that insurers are adequately capitalised, resilient, and capable of sustaining long-term growth,” Mr. Omosehin said. He emphasized that the NIIRA 2025 reforms are designed to strengthen market confidence, enhance solvency, and boost the sector’s contribution to Nigeria’s economy.
Experts have praised the regulatory measures and strong market response. Celestine Ukpong, an economist, said, “The trading activity in insurance stocks reflects growing investor confidence, largely driven by NAICOM’s NIIRA 2025 reforms. A stronger capital base will ensure insurers meet obligations and reduce systemic risk.”
Dr. Ejike Nduilo, a public relations specialist, added, “Transparency in the verification process is restoring public trust. Investors and consumers alike can see that the sector is being professionally strengthened.”
Peter Adebayo FCA, a chartered accountant, noted, “NIIRA 2025 is timely. Verification by global auditors provides assurance that insurers are financially sound and positions the sector for sustainable growth and increased foreign investment.”
Analysts conclude that the combination of active market trading and regulatory reform positions Nigeria’s insurance sector for a resilient, investor-friendly future with higher insurance penetration and stronger competitiveness.
Insurance stocks surge as AIICO, Sovereign Trust, and WAPIC lead trading on the Nigerian Exchange. NAICOM CEO updates that 20 insurers are under verification under the National Insurance Industry Reform Acts (NIIRA) 2025, boosting investor confidence.
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