The insurance sector emerged as the most active segment on the Nigerian Exchange Limited (NGX) last week, recording 2.1 billion shares worth N6.2 billion in transactions across 17 listed companies.
AIICO Insurance topped activity with 236.96 million shares valued at N995.88 million exchanged in 4,691 deals. It was closely followed by Mutual Benefits Assurance, which traded 204.7 million shares worth N879.2 million.
Other major performers included Universal Insurance with 434.2 million shares worth N559.1 million, AXA Mansard Insurance with 33.2 million shares worth N554.2 million, and Lasaco Assurance, which recorded N457.4 million in 1,197 deals. Linkage Assurance, Veritas Kapital Assurance, Sovereign Trust Insurance, and Prestige Assurance also featured prominently among the top traded stocks.
Mr. David Adonri, Vice President of Highcap Securities, observed that the sector had not enjoyed such momentum since before the global financial crisis. He credited the resurgence to the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which was signed into law by President Bola Tinubu.
Adonri explained that investors now see NIIRA 2025 as a potential game changer capable of transforming the sector’s outlook. However, he cautioned that insurance operators must address long-standing trust concerns, enhance governance, and adopt strategies to attract investors ahead of new recapitalisation requirements.
He added that insurance plays a vital role in savings mobilisation and economic development, urging stakeholders to leverage the current rally to rebuild confidence in the industry.
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