Narrative Update • May 07
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Nigerian (NSE) General Insurance Industry Analysis
UpdatedJun 24, 2026
DataAggregated Company Financials
Companies7
- 7D5.5%
- 3M-9.3%
- 1Y58.3%
- YTDn/a
The General Insurance industry is up 4.4% in the last week, with Cornerstone Insurance up 11%. Meanwhile, Mutual Benefits Assurance actually underperformed within the industry, shrinking 11% in the last week. In the last 12 months, the industry was up 53%.
Industry Valuation and Performance
Has the Nigerian General Insurance Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 24 Jun 2026 | ₦317.7b | ₦311.5b | ₦42.4b | 8.6x | 7.5x | 1x |
| Fri, 22 May 2026 | ₦316.7b | ₦304.1b | ₦38.6b | 8.8x | 8.2x | 1x |
| Sun, 19 Apr 2026 | ₦310.0b | ₦298.8b | ₦38.5b | 10.2x | 8.1x | 1x |
| Tue, 17 Mar 2026 | ₦341.6b | ₦281.7b | ₦38.1b | 11.5x | 9x | 1.2x |
| Thu, 12 Feb 2026 | ₦354.0b | ₦281.7b | ₦38.1b | 12.3x | 9.3x | 1.3x |
| Sat, 10 Jan 2026 | ₦362.4b | ₦274.7b | ₦39.4b | 11.7x | 9.2x | 1.3x |
| Mon, 08 Dec 2025 | ₦299.2b | ₦274.7b | ₦39.4b | 10.3x | 7.6x | 1.1x |
| Wed, 05 Nov 2025 | ₦322.5b | ₦274.9b | ₦39.7b | 10.2x | 8.1x | 1.2x |
| Fri, 03 Oct 2025 | ₦336.3b | ₦256.1b | ₦32.6b | 11.9x | 10.3x | 1.3x |
| Sun, 31 Aug 2025 | ₦360.6b | ₦256.1b | ₦32.6b | 12.7x | 11.1x | 1.4x |
| Tue, 29 Jul 2025 | ₦241.9b | ₦229.8b | ₦36.0b | 9x | 6.7x | 1.1x |
| Thu, 26 Jun 2025 | ₦205.6b | ₦213.0b | ₦31.6b | 7.3x | 6.5x | 1x |
| Sat, 24 May 2025 | ₦181.5b | ₦214.9b | ₦43.3b | 5.1x | 4.2x | 0.8x |
| Mon, 21 Apr 2025 | ₦139.4b | ₦206.6b | ₦43.2b | 5.1x | 3.2x | 0.7x |
| Wed, 19 Mar 2025 | ₦163.9b | ₦207.2b | ₦42.8b | 6x | 3.8x | 0.8x |
| Fri, 14 Feb 2025 | ₦165.0b | ₦181.1b | ₦39.2b | 4.5x | 4.2x | 0.9x |
| Sun, 12 Jan 2025 | ₦181.8b | ₦158.4b | ₦44.3b | 3.4x | 4.1x | 1.1x |
| Tue, 10 Dec 2024 | ₦114.9b | ₦158.4b | ₦44.3b | 2.5x | 2.6x | 0.7x |
| Thu, 07 Nov 2024 | ₦100.3b | ₦162.1b | ₦44.4b | 2.1x | 2.3x | 0.6x |
| Sat, 05 Oct 2024 | ₦97.1b | ₦143.3b | ₦48.3b | 2.5x | 2x | 0.7x |
| Mon, 02 Sep 2024 | ₦100.5b | ₦135.6b | ₦47.6b | 2.9x | 2.1x | 0.7x |
| Wed, 31 Jul 2024 | ₦81.3b | ₦120.1b | ₦29.8b | 2.9x | 2.7x | 0.7x |
| Fri, 28 Jun 2024 | ₦83.1b | ₦99.4b | ₦26.9b | 3.1x | 3.1x | 0.8x |
| Sun, 26 May 2024 | ₦77.9b | ₦99.4b | ₦26.9b | 3.3x | 2.9x | 0.8x |
| Tue, 23 Apr 2024 | ₦78.9b | ₦99.4b | ₦26.9b | 3.2x | 2.9x | 0.8x |
| Thu, 21 Mar 2024 | ₦85.1b | ₦99.4b | ₦26.9b | 3.4x | 3.2x | 0.9x |
| Sat, 17 Feb 2024 | ₦98.1b | ₦99.4b | ₦26.9b | 3.4x | 3.6x | 1x |
| Mon, 15 Jan 2024 | ₦87.2b | ₦96.8b | ₦19.4b | 4.1x | 4.5x | 0.9x |
| Wed, 13 Dec 2023 | ₦67.2b | ₦94.0b | ₦19.6b | 2.7x | 3.4x | 0.7x |
| Fri, 10 Nov 2023 | ₦69.1b | ₦92.4b | ₦19.8b | 2.3x | 3.5x | 0.7x |
| Sun, 08 Oct 2023 | ₦64.5b | ₦86.0b | ₦17.5b | 3.7x | 3.7x | 0.7x |
| Tue, 05 Sep 2023 | ₦60.2b | ₦85.1b | ₦17.4b | 3.1x | 3.5x | 0.7x |
| Thu, 03 Aug 2023 | ₦50.9b | ₦79.3b | ₦7.5b | 4.3x | 6.8x | 0.6x |
| Sat, 01 Jul 2023 | ₦61.5b | ₦79.2b | ₦7.3b | 3.8x | 8.4x | 0.8x |
Price to Earnings Ratio
8.4x
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 7.9x which is higher than its 3-year average PE of 5.3x.
- The industry is trading close to its 3-year average PS ratio of 0.92x.
Past Earnings Growth
- The earnings for companies in the Multi-line Insurance industry have grown 74% per year over the last three years.
- Revenues for these companies have grown 58% 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 | -1.55% | |
| Financials | -2.49% | |
| Insurance | -3.43% | |
| General Insurance | 5.46% | |
| Property and Casualty Insurance | -4.76% | |
| Life and Health Insurance | -11.11% | |
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| CORNERST Cornerstone Insurance | ₦6.05 | 11.0% +₦10.8b | 51.2% | PE13.2x | |
| ROYALEX Royal Exchange | ₦1.53 | 2.0% +₦248.0m | 61.1% | PE14.9x |