Insurance leads top 5 gainers by 40%

The Nigerian insurance sector for the four days’ trading week ended Friday, 8th September, led top five gainers’ table with 40 per cent from the sector.

The significant performance of insurance sector reflected opportunities the sector provides for investors, as more investors turn to better rewarding, low- cost insurance stocks.

For example,African Prudential Insurance and AIICO Insurance, competed favourably on the Nigerian Stock Exchange’s (NSE’s) top five gainers’ table for the week, with Guinness Nigeria, in the beverages’ sector; brewers/ distillers sector and C&I Leasing of the Supports & Logistics sector sharing the 60 per cent of the top five gainers.

However, Guinness led the table with 27.59 per cent or N20.83 gained during the week to close at N96.33 per share, followed by Calverton with 6.25 per cent or N0.07 equity price growth, closing at N1.19 per share, while C&I Leasing appreciated by 6.00 per cent or N0.06 to close trade at N0.06 per share.

Also, African prudential closing trade at N3.30 per share posted market capitalization of N6,600,000,000.00 billion, backed by 2,000,000,000 shares outstanding.

Africa Prudential Plc is a leading share registration and investor services’ firm with close to four decades of top-class experience in the Nigerian capital market.

The company is the first and only listed registrar and investor services’ firm on the NSE, and currently manages over 70 client registers.

Meanwhile, AIICO Insurance and African prudential collectively gained 11.13 per cent, as African Prudential’s equity price grew by 5.77 per cent or N0.18, closing trade for the week at N3.30 per share.

AIICO garnered 5.36 per cent or N0. 03 gain, to close the week’s trade at N0.59 per share. As at the close of trade on Friday September 8th 2017, AIICO had shares outstanding of 6,930,204,480 and market capitalization of N4, 088,820,643.20bn.

AIICO is an insurance, pensions management, and asset management group in Nigeria, with market-leading positions in its key business lines, such as, Life Assurance and annuity, General Insurance and Special Risks, Pension Management, Health Insurance and Assets’ Management.