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African Alliance Insurance PLC (NGX: AFRINSURE) | Share Price

Updated 27 Sep 2022
African Alliance Insurance PLC

African Alliance Insurance PLC is the first indigenous insurance company in Nigeria that traces its history back to 1960. African Alliance Insurance PLC is involved with the business of life insurance, and it initially started with a partnership with the Munich Reinsurance Company of Germany, the largest company of its kind globally.

Latest African Alliance Insurance Plc Share Price

The graph above shows the latest African Alliance Insurance Plc share price on the Nigerian Stock Exchange. Investors have seen African Alliance Insurance Plc shares perform not well historically, and it doesn’t remain a steady investment. African Alliance Insurance Plc stock is live on the NGX under the stock symbol of AFRINSURANCE and is available to trade via several brokers in Nigeria.

What is African Alliance Insurance PLC?

African Alliance Insurance PLC entered a joint venture with First Securities Discount house in 2005 when it was still a limited liability company at the time. The result of this joint venture was Pensions Alliance Limited, a licensed administrator of pension funds.

African Alliance Insurance PLC is well-known for its portfolio of products and services that include:

  • Annuity
  • Group life
  • Esusu
  • Individual
  • Takaful, and several other investments.

The annuity provides regular payments to registered pensioners while Group Life offers covers to members of a group such as company employees, a society, or several other groups.

Esusu is a savings scheme that offers life cover, specifically designed for certain members who have public-recognized employment. The Individual option offers child education plans along with other components, while Takaful offers a family plan in addition to several other options.

African Alliance Insurance PLC’s equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol AFRINSURE. Today, African Alliance Insurance PLC has a 3.6 billion NGN shareholders’ fund that it manages, with a gross premium income and asset base with an estimated value of 13.42 billion NGN and 41.35 billion NGN, respectively.

African Alliance Insurance PLC Performance

The current share price for African Alliance Insurance PLC stocks is 0.20 NGN [2021/09/19] and the company has a total market capitalization of 4.12 billion NGN. The P/E ratio for African Alliance Insurance PLC is not provided and the earnings per share (EPS) is 0.00 NGN, with a total of 20.6 billion shares outstanding.

An analysis on the financial performance data for 2021 during the second quarter that ended in June, African Alliance Insurance PLC received premiums to the value of 2,225.70 million NGN and achieved revenues of 2,734.53 million NGN.

African Alliance Insurance PLC reported an operating income of (3,697.76) million NGN, net income of (3,728.15) million NGN, and lucrative profits which were reported for this quarter, with diluted normalized EPS of (0.18) NGN and diluted EPS excluding ExtraOrd items of (0.18) NGN.

In an analysis done on the live chart data of AFRINSURE stocks, it was clear that African Alliance Insurance PLC achieved linear and stable financial performance for the year-to-date, making AFRINSURE a stock worth considering for investors who want to buy or sell shares in African Alliance Insurance PLC.

AFRINSURE stock market performance shows decreased performance for the past six months of -16.7%, with trading volumes in the past in June and July ranging between 1,500 and 501,000 shares.

Highlights of African Alliance Insurance PLC in 2021

African Alliance Insurance PLC currently has a share price of 0.20 NGN [2021/09/19], and the company is the 111th most-traded company on the NGX. During the past three months, African Alliance Insurance PLC achieved a trading volume of 319,840 shares, concluded in 13 deals to the value of 63.968 NGN in the period.

The average of shares traded per session was 5,077 and African Alliance Insurance PLC experienced an all-time high of 300,000 in trading volume in July.

African Alliance Insurance PLC is known for its drive behind innovation, and it harnesses a range of opportunities to position itself in the perfect way to provide premium value to its stakeholders, whether it is for customers, partners, or shareholders.

During the past year, many businesses have felt the impacts of the Covid-19 pandemic and unlike these companies, African Alliance Insurance PLC has experienced minimal impacts to its operations, allowing the company to grow and thrive undeterred by economic challenges.

The main reason that placed African Alliance Insurance PLC in this position is its business continuity management that was deployed before the pandemic, This put it in the best position to survive the financial challenges that the pandemic caused while ensuring consistent growth and expansion.

African Alliance Insurance PLC enabled its plan digitally and it helped to ensure that all operations were continuous and smooth, allowing the company to continue providing consistent services to its customers.

African Alliance Insurance PLC also reported that its relationship with the Nigerian Body of Brokers was strengthened. In support of this, African Alliance Insurance PLC was selected to host the South-South Area Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB).

NCRIB is an integral part of the Insurance business in the reason and the role that they play to drive and increase penetration in the Nigerian market cannot be overstated.

How to buy African Alliance Insurance PLC stocks Step-by-step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participation daily. To buy, sell or trade AFRINSURE stocks, traders and investors can follow these simple steps:

  • Find the share that you want to purchase, in this case, “AFRINSURE”.
  • Select a forex broker that offers AFRINSURE to the Nigerian Stock Exchange(NGX).
  • Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading
  • Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading
  • Make your first share purchase through the broker.
  • Build and diversify your portfolio by buying more shares.

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