Wapic Insurance shares remain investors’ toast
Earning opportunities and prospects of growth, sound management among other driving forces could be attributed to why investors are taking and consolidating position in the firm.
Wapic Insurance for the week ended 30th November, 2017, pulled a total turnover of 1,397,903 billion shares worth N693, 951,731.00million, which was transacted by investors in 75 deals, closing trade at N0.50 per share.
The company’s turnover accounted for over 98 per cent of the sector’s turnover which closed the week at 1,427,176,220 billion shares, recorded in total 359 deals.
Based on sound growth potential the company prides and ability to reward shareholders through dividend payment, the likelihood of 100 per cent equity price growth in a short tem period is high, and over a medium to long term it could make over 600 per cent.
Wapic Insurance, during the week, sustained high volume, as on the 28th November, the company emerged the most active stock, accounting for 655.35 million shares worth N327.67 million.
Analysis show that the company’s half year and Q3 results clearly demonstrate the focus on growth and returns on investment to shareholders, for instance, for the H1 2017 period, Wapic Insurance recorded 106.85 percent growth in underwriting profit, reflecting enhanced efficiency of the insurer’s operation notwithstanding macro/microeconomic challenges and harsh operating environment.
Wapic Insurance reflected strength in the first half of 2017. The company continues to bargain opportunities for growth, with premium written growing by 31.47 per cent.
This also aided driving profit higher, with after tax income swelling by almost 134.64 percent to N395.69 million. The insurer continues to generate increased return on equity (ROE).
Wapic, it would be recalled, joined the league of foreign investors for acquisition of Ensure Insurance. The three International insurers’ bidders for Ensure Insurance are, Hollard of South Africa, Allianz of Germany and Wapic Insurance Plc, are jostling to acquire Ensure Insurance Plc. Ensure Insurance Plc, formerly Union Assurance Plc, was acquired three years ago by Greenoak Global Holdings.
This development demonstrates focus by management of Wapic and assurance to shareholders and intending investors that brighter earning years lay ahead for the firm and its other stakeholders.
Business Executive, Commercial Banking, Sterling Bank Plc, Tunde Adeola; Managing Director, Primero Transport Services Limited, Fola Tinubu and Managing Director/CEO, Yemi Adeola, during the bank’s bus tour by the senior Executives in Lagos..Friday.
Stories by Bonny Amadi
