Trading activity in the insurance sector on the Nigerian Exchange Limited (NGX) slowed last week, with investors exchanging 481.1 million shares worth ₦1.41 billion across 10,655 deals. This represented a decline from the previous week’s total of 523.5 million shares valued at ₦1.45 billion in 12,666 transactions.
The data, released by the Nigerian Exchange Limited on Saturday, indicates a week-on-week dip in market activity—volume declined by 8.8%, value by 2.5%, and the number of deals dropped by 18.9%.
A total of 16 insurance companies were actively traded, with Regency Alliance Insurance topping the chart. The company accounted for 102.6 million shares worth ₦176.9 million across 1,619 transactions.
Lasaco Assurance followed closely, with 55.9 million shares valued at ₦168.1 million in 584 deals, while AIICO Insurance traded 36.8 million shares worth ₦149.5 million in 2,052 transactions—the highest number of deals recorded for the week.
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Other major players included:
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Veritas Kapital Assurance: 62.04 million shares, ₦135.4 million, 764 deals
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Sovereign Trust Insurance: 41.2 million shares, ₦123.5 million, 576 deals
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Nem Insurance: 3.9 million shares, ₦111.3 million, 459 deals
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Consolidated Hallmark Holdings: 24.8 million shares, ₦105.2 million, 460 deals
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Cornerstone Insurance: 15.4 million shares, ₦102.6 million, 430 deals
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Mutual Benefits Assurance: 22.6 million shares, ₦89.4 million, 667 deals
Other notable trades included:
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Universal Insurance: 54.7 million shares, ₦66.4 million, 695 deals
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AXA Mansard Insurance: 3 million shares, ₦47.7 million, 490 deals
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Linkage Assurance: 19.6 million shares, ₦41.9 million, 291 deals
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WAPIC Insurance: 8.5 million shares, ₦28.7 million, 484 deals
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Prestige Assurance: 15.5 million shares, ₦28.2 million, 342 deals
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Sunu Assurances: 4.98 million shares, ₦27.3 million, 291 deals
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Guinea Insurance: 9.35 million shares, ₦15.01 million, 451 deals
Sector Outlook
The dip in trading volume, value, and deal count suggests a temporary cooling of investor enthusiasm following a period of heightened activity and renewed confidence in the Nigerian insurance sector.
In recent years, the industry has experienced robust growth, fuelled by regulatory reforms such as the “No Premium, No Cover” enforcement and rising interest rates, which have boosted investment income for insurers.
Analysts believe the current slowdown may be linked to broader market corrections, short-term profit-taking, and caution in anticipation of macroeconomic policy adjustments. However, long-term prospects for the sector remain positive, underpinned by growing awareness, improved underwriting performance, and digital transformation efforts by insurers.
