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Nigerian (NSE) General Insurance Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies7
  • 7D4.3%
  • 3M12.2%
  • 1Y96.2%
  • YTDn/a

Last week, the General Insurance industry hasn't moved much but Mutual Benefits Assurance is up 3.6% in that time. As for the the longer term, the industry is up 89% over the past 12 months.

Industry Valuation and Performance

Has the Nigerian General Insurance Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026₦353.0b₦281.7b₦38.1b12.2x9.3x1.3x
Fri, 20 Feb 2026₦356.9b₦281.7b₦38.1b12.4x9.4x1.3x
Sun, 18 Jan 2026₦361.6b₦274.7b₦39.4b12x9.2x1.3x
Tue, 16 Dec 2025₦301.1b₦274.7b₦39.4b10.3x7.6x1.1x
Thu, 13 Nov 2025₦306.9b₦276.6b₦39.7b9.8x7.7x1.1x
Sat, 11 Oct 2025₦350.2b₦256.1b₦32.6b11.8x10.7x1.4x
Mon, 08 Sep 2025₦366.8b₦256.1b₦32.6b12.1x11.2x1.4x
Wed, 06 Aug 2025₦267.1b₦242.6b₦36.7b9.5x7.3x1.1x
Fri, 04 Jul 2025₦228.3b₦213.0b₦31.6b7.7x7.2x1.1x
Sun, 01 Jun 2025₦177.7b₦214.9b₦43.3b5.5x4.1x0.8x
Tue, 29 Apr 2025₦148.9b₦206.6b₦43.3b5.3x3.4x0.7x
Thu, 27 Mar 2025₦159.3b₦207.2b₦42.8b5.5x3.7x0.8x
Sat, 22 Feb 2025₦169.1b₦191.3b₦41.8b6.5x4x0.9x
Mon, 20 Jan 2025₦170.0b₦158.4b₦44.3b3.2x3.8x1.1x
Wed, 18 Dec 2024₦128.1b₦158.4b₦44.3b2.6x2.9x0.8x
Fri, 15 Nov 2024₦101.0b₦158.4b₦44.3b2.2x2.3x0.6x
Sun, 13 Oct 2024₦99.5b₦145.4b₦50.6b2.5x2x0.7x
Tue, 10 Sep 2024₦97.6b₦135.2b₦48.0b2.9x2x0.7x
Thu, 08 Aug 2024₦86.5b₦128.0b₦31.0b2.9x2.8x0.7x
Sat, 06 Jul 2024₦87.6b₦107.6b₦32.4b2.9x2.7x0.8x
Mon, 03 Jun 2024₦78.2b₦99.4b₦26.9b3.2x2.9x0.8x
Wed, 01 May 2024₦76.8b₦99.4b₦26.9b3.2x2.9x0.8x
Fri, 29 Mar 2024₦84.3b₦99.4b₦26.9b3.5x3.1x0.8x
Sun, 25 Feb 2024₦87.4b₦99.4b₦26.9b3.2x3.2x0.9x
Tue, 23 Jan 2024₦91.0b₦96.8b₦19.4b3.6x4.7x0.9x
Thu, 21 Dec 2023₦65.8b₦94.0b₦19.6b2.6x3.4x0.7x
Sat, 18 Nov 2023₦66.7b₦92.1b₦19.6b2.3x3.4x0.7x
Mon, 16 Oct 2023₦65.0b₦86.0b₦17.5b3.8x3.7x0.8x
Wed, 13 Sep 2023₦54.1b₦85.1b₦17.4b2.9x3.1x0.6x
Fri, 11 Aug 2023₦56.1b₦80.2b₦17.5b3.3x3.2x0.7x
Sun, 09 Jul 2023₦56.9b₦79.2b₦7.3b4.4x7.8x0.7x
Tue, 06 Jun 2023₦42.6b₦80.1b₦10.0b5x4.2x0.5x
Thu, 04 May 2023₦36.4b₦80.5b₦9.0b3.6x4x0.5x
Sat, 01 Apr 2023₦36.1b₦78.0b₦8.8b4.1x4.1x0.5x
Price to Earnings Ratio

4.1x


Total Market Cap: ₦36.1bTotal Earnings: ₦8.8bTotal Revenue: ₦78.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian General Insurance Industry Price to Earnings3Y Average 5x202420252026
Current Industry PE
  • Investors are optimistic on the Nigerian Multi-line Insurance industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 9.1x which is higher than its 3-year average PE of 5.0x.
  • The 3-year average PS ratio of 0.88x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Multi-line Insurance industry have grown 63% per year over the last three years.
  • Revenues for these companies have grown 53% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Nigerian General Insurance compare with similar industries?

NG Market-1.96%
Financials-2.87%
Insurance2.31%
General Insurance4.28%
Property and Casualty Insurance2.52%
Life and Health Insurance-3.22%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CORNERST Cornerstone Insurance₦5.978.5%
+₦8.5b		78.2%PE13x
MBENEFIT Mutual Benefits Assurance₦4.663.6%
+₦3.2b		482.5%PE4.7x
WAPIC Coronation Insurance₦3.353.1%
+₦2.4b		49.6%PE11.3x
LASACO LASACO Assurance₦2.405.7%
+₦1.4b		-4.4%PS0.8x

Latest News

GUINEAINS
₦1.22
Guinea Insurance
7D
-6.9%
1Y
74.3%

Guinea Insurance Plc Secures Shareholder Approval to Raise N15 Billion to Strengthen Capital and Comply with NAICOM Requirements

Author: Qudus Adebara Key Highlights Offer Size: Up to N15 billion Offer Structure: Combination of Rights Issue and Private Placement Share Capital Increase: From N4 billion to N19 billion (8 billion to 38 billion ordinary shares of 50 kobo each) Rights Issue: Up to 5.29 billion ordinary shares (subject to regulatory approval) Private Placement: Up to 6.32 billion ordinary shares at N1.45 per share Regulatory Approvals: NAICOM and NGX Objective: Comply with statutory capital requirements, strengthen financial base, and support strategic growth Overview Guinea Insurance Plc, a leading player in Nigeria’s insurance sector, has obtained shareholder approval to raise up to N15 billion in additional equity capital. The approval was granted at the company’s Extraordinary General Meeting (EGM) held virtually on December 17, 2025.
CORNERST
₦5.97
Cornerstone Insurance
7D
8.5%
1Y
78.2%
MBENEFIT
₦4.66
Mutual Benefits Assurance
7D
3.6%
1Y
482.5%
UNIVINSURE
₦1.28
Universal Insurance
7D
-0.8%
1Y
113.3%
LASACO
₦2.40
LASACO Assurance
7D
5.7%
1Y
-4.4%
WAPIC
₦3.35
Coronation Insurance
7D
3.1%
1Y
49.6%
ROYALEX
₦1.78
Royal Exchange
7D
-1.1%
1Y
119.8%