NGX Suspends Universal Insurance Following NAICOM Licence Revocation

The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Universal Insurance Plc following the revocation of the company’s operating licence by the National Insurance Commission (NAICOM).

The suspension, which took effect on Thursday, August 20, 2026, was announced by the Exchange in its weekly market report as part of regulatory actions affecting listed companies.

According to the NGX, the decision followed NAICOM’s revocation of Universal Insurance’s licence and the subsequent appointment of a liquidator to oversee the company’s affairs.

The Exchange stated that the suspension was implemented to protect investors and preserve the integrity of the market while the liquidation process proceeds.

With the suspension now in effect, shareholders will no longer be able to buy or sell Universal Insurance shares on the Nigerian Exchange until further notice or until regulatory requirements are satisfied.

The move effectively freezes trading in the company’s securities, preventing further market transactions involving the stock.

The suspension marks a significant development for the insurance sector, where several companies have recently undergone recapitalisation, restructuring and regulatory reviews aimed at strengthening operators’ financial positions.

The announcement comes during a period of heightened activity in the insurance segment of the Nigerian stock market.

Insurance stocks have dominated trading volumes in recent weeks with companies such as Fortis Global Insurance Plc, Lasaco Assurance Plc, Cornerstone Insurance Plc and Consolidated Hallmark Holdings Plc accounting for a substantial share of market turnover.

NGX included the suspension notice alongside other corporate actions in its weekly report, including the supplementary listing of 15 billion additional ordinary shares of Veritas Kapital Assurance Plc following the completion of its private placement.

The Exchange advised market participants to take note of the suspension, which remains effective pending further regulatory developments concerning Universal Insurance Plc.