The NGX Insurance sector powered through 2025 with an impressive return of 65.64%, outperforming the broader All-Share Index, which gained 51.19%.
Tracked by its index, the sector gained 471.3 points, rising from 719.9 to close at 1,189.3 points and decisively breaking the 1,000-point barrier.
Only the NGX Consumer Goods sector posted a stronger performance, returning 129.57%.
Even so, 2025 was a solid year for insurance stocks, although it fell short of the sector’s exceptional 123% return in 2024, while Consumer Goods delivered 54% last year.
On a month-to-date basis, August emerged as the strongest month in 2025, advancing 44.30%.
The surge was largely driven by a positive market reaction to President Tinubu’s signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which promises stronger consumer protection, improved capital adequacy, and overall sector stability.
August’s rally pushed H2 2025 to become the year’s strongest half, up 57.42%, with the third quarter emerging as the standout period, rising over 57%.
This sector-wide performance was driven by strong gains in individual insurance stocks. Below are the top 10 performers behind the rally.
Universal Insurance placed sixth in 2025, delivering an 83.33% return as its shares rose from N0.66 to N1.21, with trading volume exceeding 6 billion shares.
Early-year weakness saw the shares drop to N0.64 in January and further to N0.52 by April, leaving the stock down 6% at the end of H1 despite brief rebounds in May and June.
Performance improved markedly in the second half, as renewed buying interest pushed the price from N0.78 in July to N1.20 by August.
Choppy trading persisted through the final months, but the stock managed to edge higher and close the year at N1.21.
Universal reported nine-month insurance revenue of N14.6 billion, up from N9.8 billion previously. Received premiums rose to N18.4 billion from N12 billion, while claims paid increased 68% to N2.6 billion. The company’s market cap stands at N20.8 billion.
