Top 10 insurance stocks that delivered massive returns to investors in 2025 

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.

Guinea Insurance (64.20%)

Guinea Insurance Plc secured the tenth spot in 2025, delivering a 64.20% return to investors. The stock opened the year at N0.81 and closed at N1.33, with approximately 1.4 billion shares traded.

The year began on a weak note, as the stock shed 9.88% in January, slipping to N0.73, before extending losses to N0.65 by April.

A turnaround in May and a strong June rally lifted the price to N0.90, resulting in an 11.11% gain for the first half.

Momentum accelerated in August, when the stock surged 65.12% to trade above the N1 mark, peaking around N1.42 amid broad-based strength in insurance equities.

A pullback in October and November dragged the price down to N1.10, but a late rebound of 20.91% helped the stock close the year at N1.33.

For the nine-month period, insurance revenue edged up to N2.1 billion from N2.0 billion a year earlier. Premiums received dipped 4.47% to N2.3 billion, while gross claims rose sharply to N628.3 million from N279.4 million.

Guinea Insurance is valued at N10.8 billion on the NGX.

Cornerstone Insurance (65.56%)

Cornerstone Insurance Plc ranked ninth in 2025, posting a 65.56% return to investors. Shares advanced from an opening price of N3.59 to close at N5.95, supported by trading volume exceeding 4 billion shares.

After opening the year lower at N3.47 following a 3.61% January decline, the stock extended losses to N3.07 by April. Improved sentiment in May and June reversed the trend, lifting the price to N4.28 and delivering an 18.89% gain in H1.

The rally intensified in the second half, with August standing out as the strongest month after a 38.91% surge pushed the stock above N6 to a peak of N6.40.

Profit-taking emerged in September, and although the shares briefly held above N6, they eventually closed the year slightly lower at N5.95.

Cornerstone reported nine-month insurance revenue of N37.1 billion, up from N26.6 billion in the prior year. Gross claims rose to N9.9 billion from N2.22 billion.

The company has a market value of N122.4 billion.

AXA Mansard (67.07%)

AXA Mansard Insurance Plc claimed the eighth position in 2025, posting a 67.07% gain as its shares climbed from N8.20 to N13.70, with over 665 million shares traded.

January delivered an early boost, with the shares rising 12.44% to N9.20. Price action remained largely flat between February and April before modest gains in May and June pushed the stock to N9.25 by mid-year.

The third quarter proved decisive, as the stock jumped 55.68%, driven largely by a 33.33% surge in August.

A correction in the final months saw the price ease to N12.90 by November, but a late 6.20% recovery lifted the stock back to N13.70 at year-end.

AXA Mansard recorded nine-month insurance revenue of N120.5 billion, up from N98.2 billion in 2024. Cash premiums increased 28.44% to N136.4 billion, while claims rose to N59.2 billion.

The company’s market capitalization stands at N131.6 billion.

Linkage Assurance (81%)

Linkage Assurance Plc ranked seventh after generating an 81% return in 2025. The stock climbed from N0.98 to N1.78, with over 3.5 billion shares traded.

A strong start saw the shares gain 16.95% in January to N1.15. A brief pullback in February was followed by consecutive monthly gains through June, pushing the price to N1.28 and delivering a 30.51% gain in the first half.

The rally gathered pace in H2, with July and August producing the bulk of gains.

• In August, the stock broke above N2, closing at N2.25 after a 55% surge.

A correction set in from September, pulling the price down to N1.72 by November, before a modest December rebound lifted it to N1.78 at year-end.

For the nine-month period, insurance revenue rose to N19.2 billion from N16.4 billion. Received premiums declined to N21.5 billion from N24.0 billion, while claims fell 12% to N4.02 billion. The company has a market capitalization of N33.2 billion.

Universal Insurance (83.33%)

Universal Insurance placed sixth in 2025, delivering an 83.33% return as its shares rose from N0.66 to N1.21, with trading volume exceeding 6 billion shares.

Early-year weakness saw the shares drop to N0.64 in January and further to N0.52 by April, leaving the stock down 6% at the end of H1 despite brief rebounds in May and June.

Performance improved markedly in the second half, as renewed buying interest pushed the price from N0.78 in July to N1.20 by August.

Choppy trading persisted through the final months, but the stock managed to edge higher and close the year at N1.21.

Universal reported nine-month insurance revenue of N14.6 billion, up from N9.8 billion previously. Received premiums rose to N18.4 billion from N12 billion, while claims paid increased 68% to N2.6 billion. The company’s market cap stands at N20.8 billion.

Regency Alliance Insurance (92.00%)

Regency Alliance Insurance Plc ranked fifth in 2025, posting a 92.00% gain as its shares surged from N0.56 to N1.08, with over 2 billion shares traded during the year.

The stock struggled early in the year, falling to N0.52 in January and ending Q1 down 12% at N0.50. Losses moderated in Q2, setting the stage for a sharp rebound in the third quarter.

August and September delivered the strongest upside in Q3, with the stock jumping above N1 and peaking at N1.23 in October. Despite a 15.45% decline in November, the shares held above the N1 mark and closed December at N1.08.

Nine-month insurance revenue increased to N7.9 billion from N5.7 billion. Received premiums rose to N8.4 billion, while claims paid surged to N6.4 billion from N1.4 billion. Regency Alliance has a market capitalization of N18.2 billion.

NEM Insurance (144.75%)

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.

AIICO Insurance (165.03%)

AIICO Insurance Plc ranked third after delivering a 165.03% return in 2025. Shares advanced from N1.43 to N3.79, with over 4 billion shares traded.

The stock gained 13.29% in January and posted a modest 11.89% rise in Q1, closing March at N1.60. Momentum slowed in Q2, but sentiment shifted decisively in July when the stock crossed the N2 mark for the first time.

August proved pivotal, as a sharp 91.47% rally pushed the price to N4.04, accounting for most of the year’s gains. Despite choppy trading thereafter, the stock held above N3 and closed December at N3.79.

AIICO reported nine-month revenue of N99.8 billion, up 30%. Received premiums increased to N144.6 billion, while claims paid rose to N66.2 billion. The company has a market capitalisation of N147.5 billion.

Sovereign Trust Insurance (241.07%)

Sovereign Trust Insurance Plc claimed the second spot in 2025 with a remarkable 241.07% return. The stock rocketed from N1.12 at the start of the year to N3.82 by December, with trading activity exceeding 6 billion shares.

After falling to N1.00 in January and declining further to N0.96 by April, the stock posted a 19.64% gain in the first half, due to intermittent recoveries.

The second half told a stronger story. A solid rally from July through October lifted the stock to a high of N3.90. Although a sharp 30.77% correction followed in November, a powerful 41% rebound in December sealed a strong close at N3.82.

For the nine-month period, insurance revenue rose 20% to N40.1 billion from N33.4 billion. Sovereign Trust Insurance currently has a market capitalisation of N48 billion.

Mutual Benefits Assurance(408.2%)

Mutual Benefits Assurance led the pack in 2025, delivering an eye-popping 408.2% return as its share price soared from N0.61 at the start of the year to N3.10 by December, with over 2 billion shares changing hands.

The year began slowly, with January and February seeing little movement. Momentum picked up in March, and by June, the stock had crossed the N1 mark, closing at N1.10 and posting first-half gains of over 80%.

The second half was where the real fireworks happened. July brought a 65% jump, followed by a massive 114% surge in August that pushed the stock to a high of N3.90. Some volatility followed in the final months, and the stock settled at N3.10 by year-end.

Financially, the company shone as well. Nine-month insurance revenue climbed to N60.8 billion, up 37% from N44.3 billion the previous year. Premiums collected rose to N65.7 billion from N55.8 billion, while claims paid totalled N27.4 billion.

Mutual Benefits Assurance now has a market capitalization of N79.8 billion, cementing its position as a top performer in the insurance sector.