The Nigerian Insurance sector through its performances the first business day of the year to Monday October 16th 2017 (YTD), has demonstrated resilience and reinforcement to deliver value to investors.
Like all indices of the Nigerian Stock Exchange, but the ASeM index, the Insurance index sustained positive returns on investment year to date, rewarding shareholders with resounding equity price growth and sound potential for growth indices.
For the week ended 13th October, 2017, the NSE’s Insurance index closed higher at 17.93 per cent year to date reflecting sound improvement from what was recorded in the corresponding period of the previous year.
The sector opened the preceding week on 6th October, 2017 at 138.04 points; and closed on 13th October 2017 at 148.94 points, recording a weekly growth of 10.90 per cent and weekly change of 7.90 per cent.
The sector. which has sustained positive returns since beginning of the year, has rewarded investors over a month period and quarter period, with 6.59 per cent growth in value of investment in the sector.
Meanwhile. during the week under consideration, Goldlink insurance delivered its 2015 audited financial year result for the period ended 31st December, while, Law Union And Rock Insurance was the only company from the Insurance sector on the top ten losers’ list for the week with -8.99 per cent or N0.08 drop in price to close the week’s activity at N0.81 per share.
Reflecting growth potential of some sectors in the Nigerian economy, the NSE banking index closed the week with the highest sectoral returns on investment at 67.89 per cent ytd, NSE’s Pension Index closed at 57.19per cent, while NSE Industrial Goods Index closed the week at 32.90 per cent.
The NSE weekly market data also showed that NSE Consumer Goods Index closed at 31.24 per cent, NSE Lotus II index closed the week at 24.76 per cent, while NSE Oil/Gas Index, and THE NSE ASeM indices ,the only negative returns on investment year to date, closed the week lower at -6.90 per cent and -2.77 per cent respectively.
Other rewarding index performances ytd are NSE Premium Index with 44.86 per cent ytd returns, NSE 30 Index, which closed at 41.25 per cent and the NSE-Main Board Index at 37.74[per cent, the NSE All-Share Index (ASI) closed at 37.11per cent.
Stories by Bonny Amadi