Prime Business Africa
Within the third quarter (Q3) of 2025, shareholders of 17 insurance companies recorded growth in their investments, while one closed the period with a decline in investments held by its investors.
The NGX consists of the following insurance companies with active trading shares: Mutual Benefits Assurance, Regency Alliance Insurance Plc, Sovereign Trust Insurance, AIICO Insurance Plc, Veritas Kapital Assurance Plc, and International Energy Insurance.
Join our WhatsApp ChannelOthers are Universal Insurance Company, Guinea Insurance, Prestige Assurance, AXA Mansard Insurance plc, N.E.M. Insurance, Custodian & Allied Plc, Cornerstone Insurance, Consolidated Hallmark Holdings Plc, Coronation (Wapic) Insurance, Linkage Assurance, Sunu Assurances Nigeria Plc, and Lasaco Assurance.
Five Most Profitable Insurance Stocks In Q3 2025
Mutual Benefits Assurance
Mutual Benefits Assurance topped the list of the best-performing insurance companies on NGX after the firm’s shareholders recorded 216.52 percent growth in their investment value in the third quarter.
- The growth recorded by shareholders of Mutual Benefits represented a combined gain of N52.56 billion within three months, while it also increased the market valuation of the insurer, from N24.27 billion to N76.83 billion.
- According to market data, the gain and appreciation in Mutual Benefits’ market valuation followed an increase in the company’s share price by N2.62 kobo, after high demand pushed the share price from N1.21 kobo on July 1 to N3.83 kobo on September 30.
Regency Alliance Insurance Plc
Occupying the second position on the list is Regency Alliance Insurance, as a N0.94 kobo gain in the company’s share price led to the shareholders closing the reviewed period with a 142.42 percent increase in their investments.
- Prime Business Africa’s analysis showed that Regency Alliance’s share price had increased from N0.66 kobo at the start of Q3 to N1.60 kobo at the end of the quarter, indicating the company was one of the most sought-after insurance shares.
- The upward movement in the firm’s share price also handed shareholders of Regency Alliance a N15.04 billion combined gain, and boosted the insurer’s market valuation from N10.56 billion to N25.60 billion.
Sovereign Trust Insurance
With its shareholders recording a 130.76 percent gain between July and September, Sovereign Trust Insurance closed the reviewed period as the third-best performing insurance stock on the NGX in Q3.
- This was made possible by the N1.7 kobo increase in the company’s share price, which closed the third quarter at N3, well above the N1.30 kobo the insurer started the period with.
- Consequently, Sovereign Trust Insurance’s shareholders ended the third quarter richer, with a combined gain of N24.18 billion, while the company saw its market valuation appreciate from N18.49 billion to N42.68 billion.
AIICO Insurance
Within July and September, AIICO Insurance’s shareholders recorded a 117.39 percent increase in their investments held in the insurer, representing a combined gain of N69.18 billion within three months.
- This earned AIICO the fourth position on the list of the best-performing insurance stocks in the third quarter, a period when the company’s share price jumped from N1.61 kobo to N3.50 kobo.
- The N1.89 kobo increase in AIICO’s share price also led to the company’s market valuation skyrocketing from N58.93 billion to N128.11 billion, reflecting an increase of 117.39 percent.
Veritas Kapital Assurance Plc
Veritas Kapital Assurance closed the top five list following a 98.03 percent gain recorded by the firm’s shareholders, which represents a combined gain of N13.86 billion during the period under review.
- According to Prime Business Africa’s analysis, Veritas Kapital shareholders recorded a gain due to an increase in the insurer’s share price, which grew from N1.02 at the start of Q3 to N2.02 at the end of the same period.
- As equity traders were willing to buy the firm’s shares at N1 higher, Veritas Kapital’s market valuation increased from N14.14 billion on July 1 to N28.01 billion on September 30.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
