Prime Business Africa
The end of the third quarter (Q3) of 2025 saw 10 insurance companies change positions on the list of the most valuable insurers on the Nigerian Exchange (NGX) Limited, also known as the stock market.
According to an analysis by Prime Business Africa (PBA), out of 18 insurance companies’ performance analysed, 8 retained their positions, five dropped from their spots, and five rose on the list.
Join our WhatsApp ChannelThe companies listed on the NGX are International Energy Insurance, Mutual Benefits Assurance, Universal Insurance Company, Regency Alliance Insurance Plc, Consolidated Hallmark Holdings Plc, Sovereign Trust Insurance, and AIICO Insurance Plc.
Veritas Kapital Assurance Plc, Sunu Assurances Nigeria Plc, Lasaco Assurance, Guinea Insurance, Prestige Assurance, Coronation (Wapic) Insurance, Linkage Assurance, AXA Mansard Insurance plc, N.E.M. Insurance, Custodian & Allied Plc, and Cornerstone Insurance.
Five Insurance Companies With Highest Market Valuation
Custodian & Allied Plc
Custodian & Allied retained its position as the most valuable insurance company in the Nigerian stock market at the end of the third quarter of this year, with N239.98 billion market capitalisation.
- The insurer had started the third quarter with a N159.39 billion market valuation, but following a 50.55 percent rise in Custodian & Allied’s share price, the capitalisation increased by N80.58 billion.
- Custodian & Allied’s share price had appreciated from N27.10 kobo recorded on July 1 to N40.80 kobo per share on September 30, suggesting equity traders were willing to pay N13.7 kobo more to get a share.
NEM Insurance
Thanks to a 53.63 percent appreciation in NEM Insurance’s share price during the period under review, the insurer was able to maintain its second position on the list of the most valuable insurance companies in Nigeria.
- The company saw its market valuation rise to N137.95 billion at the end of the third quarter, from N89.79 billion at the start of the same quarter, indicating a growth of over N48.15 billion.
- According to analysis by PBA, this was after high demand for NEM Insurance’s shares skyrocketed the share price by N9.6 kobo, moving from N17.90 kobo on July 1 to N27.50 kobo on September 30.
AXA Mansard Insurance Plc
At the end of the third quarter of 2025, AXA Mansard Insurance was the third most valuable insurance company after its market capitalisation increased by N46.80 billion within three months.
- Analysis showed that the company, which was also the third most valuable insurer at the start of Q3, closed the period with N129.60 trillion market capitalisation, above the N82.8 billion recorded on July 1.
- AXA Mansard was able to retain its third position after the company’s share price appreciated by 56.52 percent or N5.2 kobo between July and September, from N9.20 kobo to N14.40 kobo.
AIICO Insurance Plc
AIICO Insurance is the only insurer on the list of the top five most valuable insurance companies that moved upward, thanks to a 117.39 percent appreciation in the firm’s share price.
- The share price of the company had increased from N1.61 kobo on July 1 to N3.50 kobo on September 30, representing an appreciation of N3.50 kobo, which led to an increase of N69.18 billion in its market valuation.
- Consequently, AIICO Insurance’s market valuation rose from N58.93 billion to N128.11 billion, pushing the company from the fifth spot to the fourth position on the list of the most valuable insurance firms.
Cornerstone Insurance
Cornerstone Insurance had started Q3 as the fourth most valuable insurer on the NGX with N77.20 billion market capitalisation, however, the company dropped to the fifth position at the end of the quarter.
- The insurer dropped on the list despite its market valuation rising by N32.69 billion to N109.90 billion at the end of September, following a 42.35 percent increase in Cornerstone Insurance’s share price.
- Data from the stock market showed that traders priced Cornerstone Insurance’s shares at N6.05 per share at the beginning of the period under review, which is N1.8 kobo higher than the N4.25 kobo the share traded on July 1.
What You Need To Know
- No changes: Custodian & Allied Plc retained the first spot, N.E.M. Insurance maintained the second position, AXA Mansard Insurance plc retained its third spot, Consolidated Hallmark Holdings Plc maintained the eighth position.
- Also, Linkage Assurance retained the 10th position, Universal Insurance Company maintained the 16th position, Guinea Insurance retained the 17th spot, and the International Energy Insurance maintained the 18th position.
- Climbers: AIICO Insurance Plc rose from fifth to fourth position, Mutual Benefits Assurance jumped from 11th to sixth on the table, Sovereign Trust Insurance skyrocketed from 12th to ninth position, Veritas Kapital Assurance Plc rose from 14th to 13th spot, and Regency Alliance Insurance Plc soared from 15th to 14th position.
- Decliners: Cornerstone Insurance dropped from the fourth spot to the fifth position, Coronation/Wapic Insurance fell from sixth to seventh position, Lasaco Assurance dropped from seventh to 12th spot, Sunu Assurances Nigeria Plc declined from the ninth to 11th spot, and Prestige Assurance fell from the 13th to 15th position.
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Email: editor@primebusiness.africa, publisher@primebusiness.africa
