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Nigerian (NSE) Insurance Industry Analysis
UpdatedAug 26, 2025
DataAggregated Company Financials
Companies21
- 7D-4.1%
- 3M103.4%
- 1Y241.4%
- YTD88.4%
Over the last 7 days, the Insurance industry has dropped 4.1%, driven by a pullback from Coronation Insurance of 14%. Meanwhile, AIICO Insurance actually outperformed within the industry, gaining 6.9% in the last week. This takes the industry's 12 month performance to a gain of 241%.
Industry Valuation and Performance
Has the Nigerian Insurance Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 26 Aug 2025 | ₦1.3t | ₦1.1t | ₦168.9b | 11.8x | 8x | 1.3x |
| Thu, 24 Jul 2025 | ₦855.7b | ₦976.5b | ₦180.6b | 6x | 4.7x | 0.9x |
| Sat, 21 Jun 2025 | ₦721.9b | ₦959.6b | ₦176.4b | 4.7x | 4.1x | 0.8x |
| Mon, 19 May 2025 | ₦633.6b | ₦948.2b | ₦188.7b | 4.4x | 3.4x | 0.7x |
| Wed, 16 Apr 2025 | ₦582.1b | ₦888.9b | ₦203.0b | 3.7x | 2.9x | 0.7x |
| Fri, 14 Mar 2025 | ₦637.3b | ₦899.0b | ₦186.1b | 3.8x | 3.4x | 0.7x |
| Sun, 09 Feb 2025 | ₦642.3b | ₦888.8b | ₦183.6b | 4.5x | 3.5x | 0.7x |
| Tue, 07 Jan 2025 | ₦730.7b | ₦838.0b | ₦208.8b | 3.9x | 3.5x | 0.9x |
| Thu, 05 Dec 2024 | ₦460.7b | ₦834.8b | ₦207.2b | 2.4x | 2.2x | 0.6x |
| Sat, 02 Nov 2024 | ₦406.2b | ₦775.2b | ₦195.1b | 2.2x | 2.1x | 0.5x |
| Mon, 30 Sep 2024 | ₦392.3b | ₦687.7b | ₦184.1b | 2.3x | 2.1x | 0.6x |
| Wed, 28 Aug 2024 | ₦375.7b | ₦682.3b | ₦183.1b | 2.2x | 2.1x | 0.6x |
| Fri, 26 Jul 2024 | ₦342.6b | ₦607.5b | ₦148.2b | 2.6x | 2.3x | 0.6x |
| Sun, 23 Jun 2024 | ₦340.1b | ₦580.4b | ₦140.5b | 2.9x | 2.4x | 0.6x |
| Tue, 21 May 2024 | ₦333.4b | ₦564.6b | ₦93.2b | 4x | 3.6x | 0.6x |
| Thu, 18 Apr 2024 | ₦336.8b | ₦564.6b | ₦93.2b | 3.9x | 3.6x | 0.6x |
| Sat, 16 Mar 2024 | ₦326.2b | ₦564.6b | ₦93.2b | 3.9x | 3.5x | 0.6x |
| Mon, 12 Feb 2024 | ₦361.5b | ₦564.6b | ₦93.2b | 4.4x | 3.9x | 0.6x |
| Wed, 10 Jan 2024 | ₦357.4b | ₦474.6b | ₦71.8b | 4.9x | 5x | 0.8x |
| Fri, 08 Dec 2023 | ₦270.7b | ₦474.6b | ₦71.8b | 3.5x | 3.8x | 0.6x |
| Sun, 05 Nov 2023 | ₦231.5b | ₦362.2b | ₦66.7b | 3.6x | 3.5x | 0.6x |
| Tue, 03 Oct 2023 | ₦255.4b | ₦450.3b | ₦68.5b | 3.5x | 3.7x | 0.6x |
| Thu, 31 Aug 2023 | ₦241.0b | ₦413.9b | ₦68.5b | 3.3x | 3.5x | 0.6x |
| Sat, 29 Jul 2023 | ₦232.2b | ₦375.3b | ₦38.9b | 4.8x | 6x | 0.6x |
| Mon, 26 Jun 2023 | ₦241.7b | ₦375.3b | ₦38.9b | 4.7x | 6.2x | 0.6x |
| Wed, 24 May 2023 | ₦186.6b | ₦375.5b | ₦40.8b | 4.5x | 4.6x | 0.5x |
| Fri, 21 Apr 2023 | ₦167.8b | ₦370.6b | ₦37.6b | 4.5x | 4.5x | 0.5x |
| Sun, 19 Mar 2023 | ₦165.2b | ₦361.2b | ₦39.3b | 3.9x | 4.2x | 0.5x |
| Tue, 14 Feb 2023 | ₦166.6b | ₦360.9b | ₦39.3b | 3.9x | 4.2x | 0.5x |
| Thu, 12 Jan 2023 | ₦170.8b | ₦350.5b | ₦31.8b | 4.2x | 5.4x | 0.5x |
| Sat, 10 Dec 2022 | ₦161.7b | ₦350.6b | ₦31.6b | 3.8x | 5.1x | 0.5x |
| Mon, 07 Nov 2022 | ₦154.2b | ₦347.9b | ₦32.8b | 4x | 4.7x | 0.4x |
| Wed, 05 Oct 2022 | ₦166.0b | ₦341.9b | ₦27.2b | 4.8x | 6.1x | 0.5x |
| Fri, 02 Sep 2022 | ₦176.5b | ₦335.8b | ₦25.4b | 4.9x | 6.9x | 0.5x |
Price to Earnings Ratio
6.9x
Current Industry PE
- Investors are optimistic on the Nigerian Insurance industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 8.0x which is higher than its 3-year average PE of 4.0x.
- The 3-year average PS ratio of 0.60x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Insurance industry have grown 88% per year over the last three years.
- Revenues for these companies have grown 47% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Nigerian Financials industry?
| NG Market | -2.77% | |
| Financials | -1.29% | |
| Insurance | -4.13% | |
| Life and Health Insurance | 6.76% | |
| Property and Casualty Insurance | -5.06% | |
| General Insurance | -6.39% | |
Industry PE
- Investors are most optimistic about the Life and Health Insurance industry which is trading above its 3-year average PE ratio of 4.8x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Property and Casualty Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 3.8x.
Forecasted GrowthThere is insufficient data on the sub-industries of this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| AIICO AIICO Insurance | ₦4.47 | 6.9% +₦10.6b | 299.1% | PE12.3x | |
| MBENEFIT Mutual Benefits Assurance | ₦4.45 | 5.2% +₦4.4b | 629.5% | PE4.6x | |
| GUINEAINS Guinea Insurance | ₦1.74 | 6.7% +₦873.7m | 324.4% | PE19.6x | |
| INTENEGINS International Energy Insurance | ₦3.68 | 0.5% +₦25.7m | 134.4% | PE2.7x |