10 Most Capitalized Insursance Companies In Nigeria

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Over the years, the need for the services of Insurance companies has been on a geometric increase. The services of these companies are now more sought out for than ever before following cases of incessant fire infernos amongst other disasters.

The roles of the insurance companies are to reduce the financial burden of fixing the damages caused by these unforeseen circumstances. Some of these include; fire inferno, theft, health, car accidents amongst others.

They have been calls for people especially market traders to get their businesses insured in case of such emergencies. The insurance companies just like their counterparts have also listed on the exchange market where investors transact their shares.

They are listed in the financial services sector of the exchange market with top-rated companies such as Zenith Bank, UBA, GTBank amongst others. The financial services sector is one of the leading sectors on the NSE.

Some of these top-notch Insurance companies have over the years listed on the Nigerian Stock Exchange (NSE) as Public Liability Companies.  In this article, we are going to rank these Insurance companies according to their Market Capitalization. The data used for this research work was obtained from the Nigerian Stock Exchange database. The aim of this research work is for information purposes only, we are not in any way advocating for investors to buy these companies shares.

Continental Reinsurance Plc: Continental Reinsurance Plc is the most capitalized insurance stock listed on the Nigerian Stock Exchange. The company has an Equity Capitalization of N22.82bn as of Wednesday, December 18th, 2019. The group’s trading symbol is CONTINSURE. Continental Reinsurance Plc is listed on the Main Board of the Nigerian Stock Exchange. The group has the value of outstanding shares of 10.37bn.

The group’s shares price is currently trading at N2.2. Continental Reinsurance was incorporated on July 24th, 1985. Lawrence Nazare, David Sobanjo, and Dr. Olufemi Oyetunji form part of the tier-one Insurance Firm Board of Directors.

AxaMansard Insurance Plc: Mansard Plc shares price is currently trading at N1.8 per share unit. The group has a Market Capitalization of N18.9bn and the value of the outstanding shares of 10.5bn. The company is also listed on the NSE Main Board. The insurance company trading symbol on the Nigerian bourse market is MANSARD.

AxaMansard Plc was incorporated on June 23rd, 1989 and was listed on the Nigerian stock market on November 19th, 2009. The company’s services include life and non-life insurance.

NEM Insurance Plc: NEM Insurance is also listed on the NSE’s Main Board. The group trading symbol is NEM. The company has a Market Capitalization of N10.56bn. NEM Insurance Plc offers general insurance services.

 The group was listed on the NSE on September 5th, 1990. The Insurance company has the value of outstanding shares of 5.28bn. NEM Insurance was incorporated on April 2nd, 1970. The group’s shares price is currently trading at N2.

Cornerstone Insurance Plc: Cornerstone Insurance Plc was incorporated on July 26th, 1991. The company was listed on the nation’s local bourse market on August 13th, 1997. Cornerstone is listed on the Nigerian stock market Main Board.

The Insurance company has an Equity Capitalization of N7.51bn. The group’s outstanding shares value of 14.73bn. Cornerstone Insurance Plc shares go for 51 Kobo per share unit. The group’s trading symbol is CORNERST.

AIICO Insurance Plc: AIICO Insurance Plc is the fifth most capitalized stock listed on the Nigerian stock market. The group shares price is trading at 70 Kobo per share unit. AIICO is listed on the NSE Main Board.

The company has an Equity Capitalization of N4.85bn. AIICO Insurance Plc was incorporated on July 14th, 1970.  

Staco Insurance Plc: Staco Insurance Plc is trading at 48 Kobo per share unit. The group has an Equity Capitalization of N4.48bn to emerge as the fifth most capitalized insurance stock listed on the Nigerian Stock Exchange. The company’s trading symbol on the NSE is STACO. The group has the value of outstanding shares of 9.34bn.

Staco Insurance Plc was incorporated on July 10th, 1991. The company is listed on the Main Board of the Nation’s stock market. Staco Insurance listed on the NSE on June 25th, 2007.

Wapic Insurance Plc: Wapic Insurance Plc has a Market Capitalization of N4.5bn. The company’s shares price is currently trading at 34 Kobo. The group has the value of the outstanding shares of 13.38bn. Wapic Insurance is listed on the NSE Main Board.

The Insurance firm was incorporated on March 14th, 1958. The company’s services include; all classes of insurance including life insurance. Bode Ojeniyi, Olufemi Obaleke, and Ifeyinwa Osime (Mrs.) form part of the group’s Board of Directors.

African Alliance Insurance Plc: African Insurance Plc ticker symbol is AFRINSURE. The group’s shares price goes for 2 Kobo per share unit. The company is listed on the Nigerian Stock Exchange Main Board.

African Alliance Insurance Plc has an Equity Capitalization of N4.11bn. The company was listed on the exchange market on September 17th, 2009. Anthony Okocha, Olabisi Adekola (Mrs.), and Funmi Omo (Mrs.) are members of the company’s Board of Directors. African Alliance Insurance has the value of the outstanding shares of 20.59bn.

Linkage Assurance Plc: Linkage Assurance Plc is currently trading at 49 Kobo. The company has a Market Capitalization of 3.92bn. The group is listed on the Nigerian Stock Exchange Main Board. Linkage Assurance has an outstanding shares value of 7.99bn.

The group was incorporated on March 26th, 1991 and listed on the exchange market on November 18th, 2003. The group’s trading symbol is LINKASSURE.

Universal Insurance Plc: Universal Insurance Plc is the tenth most capitalized stock listed on the Nigerian stock market. The company has an Equity Capitalization of N3.2bn. The group’s shares price is currently trading at 20 Kobo per share unit.

Universal Insurance Plc has the value of the outstanding shares of 16bn. The insurance firm ticker symbol is UNIVINSURE. Just like its counterparts, Universal Insurance Plc is also listed on the Nigerian Stock Exchange’s Main Board.

The group was incorporated as a Limited Liability Company on March 1st, 1961 and listed on the Nigerian stock market on February 11th, 2008. Dr. Benson Ogbonna, Lt-Gen Joshua Dogonyaro (MNI), and Anthony Okocha are members of the company’s Board of Directors.  

 

 

 

 

 

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