20 insurance firms record N519bn market cap

The Nigerian insurance sector has achieved a collective market capitalisation of N519.04bn, with top players such as AXA Mansard Insurance, AIICO Insurance, and Cornerstone Insurance leading the way.

AXA Mansard Insurance, with a market cap of N81.9bn, leads the sector despite a slight decline of 1.62 per cent in its share price.

AIICO Insurance follows closely with a market cap of N61.5bn, experiencing a minor decrease of 1.18 per cent.

Cornerstone Insurance ranks third with a market cap of N67.2bn. NEM Insurance, with N60.2bn, remains a strong player, while Consolidated Hallmark Holdings holds a market cap of N35.8bn.

Sunu Assurances Nigeria has a market cap of N38.5bn, while Linkage Assurance holds N21.4bn, despite facing a 9.15 per cent price drop.

Veritas Kapital Assurance, with a market cap of N20.8bn, saw a 3.45 per cent price increase, reflecting positive market movement.

Prestige Assurance performed well, posting a market cap of N15.5bn, boosted by a 9.35 per cent price increase.

Sovereign Trust Insurance maintains a market cap of N14.2bn despite a 5.66 per cent decline in share price, while Universal Insurance’s market cap stands at N9.3bn, with a 7.94 per cent drop in its price.

Regency Assurance has a market cap of N8.2bn, but its price dropped by 9.33 per cent. Goldlink Insurance holds a modest N0.9bn, with no recent transactions. International Energy Insurance, with a market cap of N2.4bn, faced a price decline of 6.40 per cent.

Lasaco Assurance holds N6.2bn in market cap, showing a positive 4.01 per cent price increase.

Mutual Benefits Assurance has a stable market cap of N12.2bn, with no significant price changes. Staco Insurance holds a market cap of N4.5bn, with no price adjustments, while Standard Alliance Insurance has a market cap of N2.6bn with little movement in its price.

Guinea Insurance’s market cap stands at N6.6bn, facing a 3.49 per cent decline.

The PUNCH reported that twenty Nigerian insurance firms’ market capitalisations reached N590.26bn, according to data from the Nigeria Exchange Limited at the close of trading on Wednesday.