Prime Business AfricaOut of 20 insurance companies listed in the Nigerian stock exchange, 13 insurers recorded a decline in their stock performance in the first quarter (Q1) of 2025.
Analysis by Prime Business Africa showed that the 13 insurance companies are Guinea Insurance, International Energy Insurance, Lasaco Assurance, AXA Mansard Insurance, Prestige Assurance Company, Regency Alliance Insurance, and Sovereign Trust Insurance.
Join our WhatsApp ChannelOthers are Sunu Assurances Nigeria Plc, Universal Insurance Company, Veritas Kapital Assurance Plc, Wapic (Coronation) Insurance, Consolidated Hallmark Holdings, and Cornerstone Insurance Company.
As a result, shareholders of the insurers listed above recorded a combined loss of N80.69 billion between January and March, according to analysis.
Furthermore, only shareholders of Aiico Insurance, Linkage Assurance, Mutual Benefits Assurance and N.E.M. Insurance Company recorded gains in their investment, while investors of Standard Trust Assurance, Standard Alliance Insurance and African Alliance Insurance did not record any gain or loss.
Five worst-performing stocks in Q1
Sunu Assurances
Shareholders of Sunu Assurances Nigeria Plc recorded the highest decline in their investment value after the company’s share plunged by 42.91 percent.
The bearish sentiment knocked down Sunu Assurances’ share price from N11.65 kobo on January 2 to N6.65 kobo at the end of the quarter in review,
Prime Business Africa gathered that the decline in Sunu Assurances’ share price wiped off N29,05 billion from the shareholders’ investment value in the insurer.
Consequently, Sunu Assurances’ market value dropped significantly from N67.69 billion to N38.64 billion, resulting in the company falling from the 3rd spot to the 7th position on the most valuable insurance companies’ list.
Veritas Kapital Assurance
Veritas Kapital came second on the worst-performing stocks list after bearish trading sent the company’s share price down by 25.50 percent in the first quarter of the year.
The bears pulled the share price down from N1.49 kobo to N1.11 kobo, resulting in Veritas Kapital’s shareholders losing N5.26 billion in their investment value.
Following the loss, Veritas Kapital’s market valuation declined from N20.66 billion to N15.39 billion during the reviewed period, and its position on the list of the largest insurance companies changed from 9th to 11th.
Prestige Assurance
Prestige Assurance is one of the companies that saw its shares reach bear territory after it depreciated by 24.81 percent, to sell for N1 per share at the end of the first quarter, compared to N1.33 kobo per share it was valued at the start of Q1.
Findings showed that the 24.81 percent decline in the share price plummeted Prestige Assurance’s market valuation from N17.62 billion to N13.25 billion within three months.
This indicates shareholders of the company lost N4.37 billion in their investment value, leading to Prestige Assurance falling from 11th position to 13th spot on the list of the largest insurers in Nigeria.
Guinea Insurance
Guinea Insurance made the list as the fourth worst-performing stock in the insurance sector, after the price of the asset dwindled by 23.59 per cent between January to March.
The value of the company’s shares, which also ended the quarter in review in the bears’ territory, depreciated from N0.89 kobo per share to N0.68 kobo per share.
As a result, shareholders of Guinea Insurance closed the first quarter with a N1.66 billion loss, which dragged the company’s market value down to N5.40 billion from N7.06 billion.
However, despite the decline in Guinea Insurance’s market valuation, the company retained its 16th position on the list of the largest insurance companies in Nigeria.
Lasaco Assurance
Lasaco Assurance completed the list of the five worst-performing insurance stocks as the company’s share price ended the reviewed period with 23.30 percent depreciation.
Prime Business Africa gathered that the value of Lasaco Assurance’s shares fell to N2.60 kobo per share at the start of the first quarter from N3.39 kobo on March 28.
This resulted in the company’s shareholders losing N8.75 billion in their investment value and the market valuation of Lasaco Assurance falling from N37.57 billion to N28.81 billion.
But similar to Guinea Insurance, Lasaco Assurance’s 8th position on the list of the largest insurance companies in Nigeria did not change despite the decline in its share value.
