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.
Regency Alliance Insurance Plc ranked fifth in 2025, posting a 92.00% gain as its shares surged from N0.56 to N1.08, with over 2 billion shares traded during the year.
The stock struggled early in the year, falling to N0.52 in January and ending Q1 down 12% at N0.50. Losses moderated in Q2, setting the stage for a sharp rebound in the third quarter.
August and September delivered the strongest upside in Q3, with the stock jumping above N1 and peaking at N1.23 in October. Despite a 15.45% decline in November, the shares held above the N1 mark and closed December at N1.08.
Nine-month insurance revenue increased to N7.9 billion from N5.7 billion. Received premiums rose to N8.4 billion, while claims paid surged to N6.4 billion from N1.4 billion. Regency Alliance has a market capitalization of N18.2 billion.
