Nigerian Exchange Limited
Royal Exchange Leads Weekly Gainers as Insurance Stocks Extend Recovery
Insurance stocks reinforced their recovery on the Nigerian Exchange (NGX) last week as Royal Exchange Plc emerged as the market’s best-performing equity.
Royal Exchange topped the weekly gainers’ chart after its share price advanced 25.00 percent, rising from N0.88 to N1.10, the strongest appreciation recorded on the Exchange during the week.
The insurer’s performance was accompanied by strong gains across other insurance counters.
Coronation Insurance Plc appreciated 17.07 percent, while SUNU Assurances Nigeria Plc climbed 15.85 percent, underscoring broad-based buying interest within the insurance sector rather than a rally driven by a single stock.
Top Performing Insurance Stocks
| Company | Weekly Gain |
|---|---|
| Royal Exchange Plc | 25.00% |
| Coronation Insurance Plc | 17.07% |
| SUNU Assurances Nigeria Plc | 15.85% |
The strong performance in insurance equities was reflected in the broader sector index.
The NGX Insurance Index gained 3.85 percent during the week, making it one of the Exchange’s strongest-performing sectoral indices, behind only the Oil & Gas Index and the Consumer Goods Index.
Investor interest in insurance stocks also coincided with significant recapitalisation activity across the sector.
During the week, the Nigerian Exchange admitted additional ordinary shares for Coronation Insurance Plc, Sovereign Trust Insurance Plc, SUNU Assurances Nigeria Plc and Regency Alliance Insurance Plc, indicating continued capital-raising efforts aimed at strengthening balance sheets and supporting future growth.
The insurance rally formed part of a broader bullish week for Nigerian equities.
The NGX All-Share Index (ASI) advanced 2.36 percent to 246,992.44 points, while equity market capitalisation increased to N159.559 trillion, adding approximately N3.7 trillion to investors’ wealth as investor participation strengthened across the market.
Although financial stocks continued to dominate trading activity by volume, the strong price appreciation recorded by insurance companies suggests investors increasingly targeted opportunities within the sector after weeks of relatively subdued performance.
Royal Exchange’s market-leading gain, supported by strong advances in Coronation Insurance and SUNU Assurances, indicates that insurance stocks have become one of the market’s standout performers as confidence continues to improve across Nigerian equities.