The NGX Insurance Index rose by 26.9% in the first week of trading in 2025, showing its best weekly performance since 2013. The index jumped from 667.88 points to 847.59 points, with 679 million shares traded during the week.
After a shaky start in 2024, the insurance sector made a strong comeback, ending the year with a 123% increase compared to the start of the year. The index lost around 10% in index points between April and May due to the uncertainty about the Central Bank of Nigeria’s bank recapitalization policy. In a bullish market syndrome from August to December, the index experienced consistent monthly gains, culminating in a 47% surge in December to bring it to 718 points at the end of the year.
It continues in positive momentum going into 2025, and the first trading week already recorded a 26.9% increase. This growth was mainly because of seven big insurance companies—Prestige Assurance Plc, Sovereign Trust Insurance Plc, Coronation Insurance Plc, Universal Insurance Plc, Guinea Insurance Plc, Consolidated Hallmark Holdings Plc, and Cornerstone Insurance Plc—all of which saw their stock prices rise by more than 33% during the week.
In 2024, the insurance sector was the second-best performing sector out of the five main sectors on the Nigerian Exchange. It was only behind the oil and gas sector, which had a 160% increase for the year. The industrial goods sector shows an increase of 31.7%. The consumer goods and banking sectors got increases of 27.56% and 21.13%, respectively.
