NGX Insurance Index gains 26.9% in first week of 2025 after stellar 2024 performance 

This outstanding performance marks the index’s best trading week since 2013, with its value rising from 667.88 points to a noteworthy 847.59 points, supported by a robust trading volume of 679 million shares.

In April 2024, the sector faced challenges due to the implications of bank recapitalization in the financial services landscape, resulting in a 10% decline in index points from April to May.

Nevertheless, a wave of bullish sentiment swept through the market, enabling the index to close above its opening price every month from August to December.

With a strong year-to-date performance of 123% in 2024, the insurance index has kicked off 2025 on a high note, as seven insurance stocks each surpassed 33% gains in just the first week.

The NGX Insurance Index demonstrated an impressive year-to-date performance of 123% in 2024, climbing from 321 points in January to 718 points by December.

In the latter half of the year, positive sentiment returned to the financial services sector, driving the insurance index to close in the green for five consecutive months.

As 2025 began, the index maintained its upward trajectory, achieving a week-to-date performance of 26.9% in the first trading week.

In 2024, the insurance index emerged as a significant player, demonstrating resilience and growth throughout the year, culminating in a year-to-date performance of 123.15%.

Among the five primary sectors on the Nigerian Exchange, it attained the distinction of being the second-best performer, closely following the Oil and Gas sector, which achieved a noteworthy year-to-date performance of 160%.

In contrast, the Industrial goods sector realized a more modest gain of 31.70%, while the Consumer goods and Banking sectors recorded performances of 27.56% and 21.13%, respectively.