Once seen as stagnant and unappealing to investors, the Nigerian insurance industry is now experiencing one of its greatest rises in decades.
Five of the top performers in 2025 among the five leading insurance companies listed on the Nigerian Exchange (NGX) have registered outstanding year-to-date gains.
The shining performer has been Mutual Benefits Assurance, which has increased by 556 percent from January to the end at N4 per share, raising its market value to N80.2 billion. Notwithstanding a minor drop in Monday’s trading, Sovereign Trust Insurance also reported an amazing year-to-date increase of 157 percent, going from N1.12 to N2.88. Similarly, NEM Insurance rose 151 percent to N27.45, increasing its market worth to N138 billion.
One of Nigeria’s most well-known insurers, AIICO Insurance, has also experienced remarkable growth, posting 187 percent gains to trade at N4.10 with a present valuation of N150 billion. With a 101 percent jump, Cornerstone Insurance reached N7.25 per share and a market capitalization of N132 billion closely.
The News Chronicle understands that this revived investor interest is related to major changes brought about by the National Insurance Commission (NAICOM). The regulatory directive of recapitalization has encouraged insurers to use mergers, capital raising, and technology-driven improvements to consolidate their balance sheets. Analysts contend these changes are establishing the foundation for better governance, more resilience, and more underwriting capacity.
Independent investor Amechi Egbo notes that the increased interest is a response to real structural changes, not merely theoretical trading. Better disclosure procedures, stronger operational plans, and increased underwriting capacity were among the main drivers he emphasized in rebuilding credibility to an industry long beset by trust problems.
Industry partners have also stressed that the rebirth of the economy goes beyond a simple market narrative. With insurance companies implementing quicker claims processing, clearer pricing, and more extensive coverage options, shareholder advocate Moses Igbrude observed that reforms are starting to directly benefit policyholders.
This reversal follows years of difficultie,s including poor penetration rates, claim surges brought on by the epidemic, and ten years of poor performance. Still, given the present trajectory of growth, Nigeria’s insurance industry seems well-suited to meet long-term goals such the N1 trillion premium income benchmark under NAICOM’s Market Development and Restructuring Initiative.
