AIICO, Continental-Re, N.EM, WAPIC delight investors

Developments in the insurance sector in the past week showed that investors’ considerations for picking companies to invest in, to a large extent lies on the promises the companies holds for their shareholders.

AIICO Insurance, Continental Re, N.E.M Insurance and Wapic demonstrated good qualities before the investing public through their performances; and this helped to generate positive hearsay that attracted increased activities to the companies.

It also reassured investors of sound liquidity on their investments.

Irrespective of the opportunities in the four companies, other companies in the sector attracted activities, which demonstrate that investors have started exploring increasing earning opportunities in the lowly- priced sector stocks, which offers better returns on investments.

Combined turnover in the four insurance companies during the week amounted to M16,726.142 million shares, accounting for about 85 per cent of the total sector’s turnover for the week, which stood at 17,587,13 million shares.

For example, AIICO, which closed trade at N0.59 per share, pulled the highest turnover for the week with 6,142,449 million shares worth N3, 434,420.09bn and exchanged by investors in 162 deals.

Continental Reinsurance followed in the sector’s activity table for the week with 5,945,183 million shares , valued at N8,587,870.25bn as exchanged by investors in 71 deals, the company closed trade at N1.45 per share.

Wapic Insurance placed third on the sector’s activity table for the week with 2,787,707 million shares, worth N1, 406,481.67bn, which were exchanged by investors in fresh 106 deals, closing trade at N0.51 per share.

N.E.M Insurance closed the top four most active trades table with 1,850,803 million shares of the company worth N1, 925,341.15bn, transacted by investors in 40 deals. The company opens trade in the week at N1.00 per share.

Meanwhile, experts have predicted that activity in insurance stocks would continue to witness week one week growth, as more investors take flight from more risky investments in non- performing stocks to leverage on opportunities in the sector; and many forecasts say, the sector would soon emerge as the market leader.