NEM, AIICO, LASACO, others lift sector by 90%

Five insurance companies during the week, ended Friday 6th October, 2017, lifted the turnover of insurance sector by 90 per cent, demonstrating increased investors’ interest in the shares of the target insurance firms.

The companies that commanded high investors’ patronage during the week in order of activity are, N.E.M Insurance, AIICO Insurance, LASACO Assurance, AxaMansard and Wapic Insurance. Combined turnover recorded by the five companies during the week, amounted to 20,793,458 million shares, accounting for 90 per cent of the total turnover of shares recorded by the entire sector during the week which stood at 23,134,700 million shares.

According to trading data by the Nigerian bourse, N.E.M insurance pulled the highest turnover n the sector with a total of 8,421,350 million shares worth N10, 203,854.98 million; and was exchanged by investors in 70 deals. The company closed trade for the week at N1.22 per share.

AIICO Insurance followed on the week’s activity table with 7,408,483 million shares worth N3, 948,960.86, which was traded by investors in 83 deals, the company closed trade for the week at N0.55 per share.

Lasaco Assurance placed third on the week’s activity table for the insurance sector with a total of 2,227,100 million shares valued N1, 113,550.00m and was transacted in 6 deals. The company opened trade for the week at N0.50 per share.

However, WAPIC and AxaMansard closed the sector’s top five traded table for the week with a combined turnover of 2,736,525 million shares. Wapic insurance pulled a turnover of 1,530,573 million shares worth N766, 321.42m; and was traded in 90 deals, it closed trade for the week at n0.50 per share.

Axamansard Insurance closed the top five activity table for the sector with 1,185,952 million shares turnover worth N2, 371,406.10bn and transacted in 26 deals, closing the week’s trading season at N2.00 per share.

Stories by Bonny Amadi