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.
NEM Insurance finished fourth with a 144.75% return in 2025. The stock rallied from N10.95 to N26.80, with 248 million shares traded.
A strong January gain of 19% set the tone, while steady buying through Q1 lifted the price to N13.50. Momentum accelerated in Q2, as the stock gained 32.59% and broke above N17.90.
The standout performance came in Q3, when shares surged from N17.90 to N27.50, driven largely by gains in July and August. Although the final quarter saw a mild pullback, the stock still closed the year firmly at N26.80.
NEM reported nine-month revenue of N107.4 billion, up 54.55%. Received premiums rose to N122.2 billion, while direct claims increased to N30.5 billion.
The company’s market capitalization is N155.5 billion.
