Insurance sector market cap grows to N556bn

The total market capitalisation of listed insurance companies on the Nigerian Exchange Limited has reached N556.06bn.

Data from the Nigeria Exchange Limited on Tuesday showed that some companies experienced price gains, while others recorded declines, shaping the overall performance of the insurance segment.

AXA Mansard Insurance Plc led the sector with a market capitalisation of N81.45bn. The company’s stock price rose by 0.56 per cent to close at N9.05, with a trading volume of 581,528 shares exchanged in 47 deals.

NEM Insurance Plc followed closely with a market capitalisation of N65.72bn. The company’s share price appreciated by 3.97 per cent to close at N13.10. A total of 949,110 shares were traded in 40 deals, reflecting moderate investor participation in the stock.

Coronation Insurance Plc had a market capitalisation of N64.78bn. The company’s stock price surged by 5.88 per cent to N2.70, making it one of the top gainers in the sector. A total of 2,329,922 shares were traded in 51 transactions.

AIICO Insurance Plc, another player in the industry, recorded a market capitalisation of N59.30bn. However, the company’s stock price declined by 1.82 per cent to N1.62. Trading activity for AIICO Insurance saw 10,786,125 shares exchanged in 159 deals.

Cornerstone Insurance Plc had a market capitalisation of N57.22bn but recorded a 4.55 per cent decline in its stock price, closing at N3.15. The stock saw 267,774 shares traded in 21 transactions, reflecting reduced investor interest.

Lasaco Assurance Plc reported a market capitalisation of N34.25bn. The company’s share price increased by 6.92 per cent to close at N3.09. The stock recorded a total of 355,757 shares traded in 19 deals.

Sunu Assurances Nigeria Plc maintained a market capitalisation of N34.28bn. Its share price rose by 1.72 per cent to N5.90, with a total of 902,389 shares traded in 29 transactions.

Consolidated Hallmark Holdings Plc had a market capitalisation of N42.28bn, with its stock price increasing by 0.52 per cent to N3.90. A total of 959,951 shares were traded in 24 transactions.

Guinea Insurance Plc recorded a market capitalisation of N5.72bn, but its share price declined sharply by 10 per cent, the biggest drop in the sector, closing at N0.72. Trading activity for the stock saw 5,500,875 shares exchanged in 51 deals.

Veritas Kapital Assurance Plc had a market capitalisation of N15.81bn, with its share price appreciating by 3.64 per cent to N1.14. A total of 1,727,470 shares were traded in 62 transactions.

Sovereign Trust Insurance Plc recorded a market capitalisation of N16.93bn, with a 3.48 per cent increase in its stock price to N1.19. The company traded 2,065,022 shares in 28 deals.

Universal Insurance Plc had a market capitalisation of N10.40bn, with its stock price rising by 1.56 per cent to N0.65. The stock recorded 855,558 shares traded in 38 deals.

Linkage Assurance Plc maintained a market capitalisation of N20.79bn, with its stock price closing at N1.35. The company recorded a trading volume of 160,000 shares in 5 transactions, indicating low trading activity.

Mutual Benefits Assurance Plc reported a market capitalisation of N12.24bn, with its stock price closing at N0.61. The stock did not record any trading activity in the session.

Prestige Assurance Plc had a market capitalisation of N15.90bn, with its stock price closing at N1.20. The stock traded 1,098,726 shares in 23 transactions, showing moderate investor participation.

Regency Assurance Plc maintained a market capitalisation of N8.28bn, with its stock price closing at N0.69. The stock saw 275,892 shares traded in 10 deals.

International Energy Insurance Plc had a market capitalisation of N2.74bn, with its stock price closing at N2.13. The stock recorded a trading volume of 141,336 shares in 14 transactions.

Staco Insurance Plc recorded a market capitalisation of N4.48bn, but the stock did not trade during the session.

Standard Alliance Insurance Plc maintained a market capitalisation of N2.58bn, with no trading activity recorded.

Goldlink Insurance Plc had the lowest market capitalisation in the sector at N909.99m, with its stock price closing at N0.20. The stock did not record any trading activity.

The PUNCH reported that the market capitalisation of 20 Nigerian insurance firms reached N590.26bn, according to data from the Nigeria Exchange Limited at the close of trading on Wednesday.