21 Insurance Companies Account for 1% of NGX Capitalisation
The insurance index contributed less than 1% to Nigerian Exchange (NGX) equities market capitalisation in 2025, but that market anticipates this development to change in 2026 due to recapitalisation and tax law.
Data released by SAMTL showed that 21 listed insurance companies were worth less than N1 trillion in the local bourse, contributing 0.97% to the NGX capitalisation at the close of the trading session on December 31.
Some insurance stocks were, however, among top performers, delivering value to their shareholders. Sovereign Insurance Plc delivered 241.07% year to date gain followed by AIICO Plc with a 165% return over the 12 months. NEM Insurance gained 144.75% in 2025 due to bargain hunting as investors anticipate recapitalisation will spur premium growth, supported by an enhanced industry footprint.
Universal Insurance Plc delivered 83.33% year on year capital appreciation, supported by investors’ improved sentiment as shareholders began to take actions to boost operators’ capital. AXA Mansard topped its market valuation by 67% in 2025 as investors bet on retail and corporate penetration to drive earnings growth.
SUNU Assurance Plc broke valued as the company’s market value fell by about 49% in 2025, reflecting negative sentiment about its operational outlook and recapitalisation risks.
The market anticipates that Nigerian tax law will boost demand for insurance policies, as taxable individuals are expected to continue to seek tax advantages associated with premium holders. #21 Insurance Companies Account for 1% of NGX Capitalisation NIA Tasks Insurers on Collaboration, NIIRA Implementation in 2026
