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Coronation Insurance (NGX: WAPIC) | Share Price

Nigel Firth
Nigel Frith trader
Updated 27 Sep 2022

Overview of Coronation Insurance

Coronation Insurance is a leading West African full line insurance company listed on the Nigerian Stock Exchange (NGX). Coronation Insurance was formerly known as Wapic Insurance PLC and is licensed to underwrite all classes of insurance.

Coronation Insurance has gathered experience in risk management and underwriting and assisting corporate entities and individuals with various classes of cover across Nigeria. Coronation Insurance operates two lines; Coronation Life Assurance Limited which operates in Nigeria, as well as Coronation Insurance (Ghana) Limited, a regional footprint in Ghana.

To boost the company’s ongoing repositioning and restructuring initiatives, Coronation Insurance has merged with Intercontinental Properties Limited, which has significantly enhanced Coronation Insurance’s underwriting capacity and placed the company amongst the top insurance providers in Nigeria.

Coronation Insurance seeks to be a truly diversified financial services institution that provides protection against all forms of insurable risks to all customer segments and to become a top three insurer in Nigeria by 2023.

Today, Coronation Insurance’s portfolio of products and services are diversified in more sectors of the financial value chain and include the following: fire and special risk, group personal accident, aviation, burglary and house-breaking, automobile insurance, money insurance, and others.

The history of Coronation Insurance goes back to 1958 and the company has been listed on the Nigerian Stock Exchange since 1990. In 2004 Wapic Insurance Plc received the necessary approval of the Corporate Affairs Commission to change its name to Coronation Insurance.

Coronation Insurance has its head offices at 50 Awolowo Road, Ikoyi, Lagos.

Coronation Insurance has a large staff complement and renders its services in countries like Nigeria and Ghana.

The current CEO and Managing Director of Coronation Insurance is Adeyinka.

Coronation Insurance’s equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol WAPIC.

Coronation Insurance forms part of the Financial Services Sector of the Nigerian Stock Exchange (NGX).

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Coronation Insurance Stock Performance

The current price for Coronation Insurance stocks on the Nigerian Stock Exchange (NGX) is 0.48 Nigerian Naira (NGN).

An analysis of financial data of Coronation Insurance showed that the company has a total market capitalisation of 11.5 Billion NGN, with a Price/Earning ratio of 24.00 and earnings per share of 0.02 NGN. A total of 24 Billion shares were outstanding.

With an increase of earnings per share and reliable profits over a period, investors who want to buy or sell Coronation Insurance stocks can look forward to more profitable dividends and earnings in times to come.

According to an analysis on the live chart of Coronation Insurance, analysts forecast further improved performance for the financial services sector with market share growing as trading volumes increase.

AskTraders-Nigerian-Stocks-Coronation-Insurance-Shares

Highlights of Coronation Insurance in 2021

Coronation Insurance started the current financial year (2021) with a share price of 0.40 Nigerian Naira (NGN) on the Nigerian Stock Exchange (NGX), and it has gained 20 % in value on its price valuation, ranking 41st on the NGX with its year-to-date performance.

Coronation Insurance is currently the 28th most-traded stock on the NGX and it has experienced a total trading volume of more than 135 million shares, which were finalised in 1 818 deals and were valued at a total of 69.4 million Nigerian Naira (NGN) over the recent three month period from July to September 2021, with an average of 2.14 shares in each trading session.

During the same period a volume high of 18.3 million shares was achieved on one day.

How to buy Coronation Insurance stocks – Step by Step

The stock market is one of the most attractive financial markets that sees millions of retail investors and traders participating daily. To buy, sell or trade Coronation Insurance stocks on the Nigerian Stock Exchange (NGX), traders and investors can follow a few simple steps:

  1. Find the share that you want to buy, in this case, “WAPIC”.
  2. Select a forex broker that offers access to the Nigerian Stock Exchange (NGX).
  3. 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 plan.
  4. Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
  5. Once your account has been activated, you are ready to make your first share purchase through the broker.
  6. From here you can start to build and diversify your portfolio by buying more shares.

FAQs

The Nigerian Stock Exchange (NGX) (officially the Nigerian Exchange Group) is a leading integrated market organisation in Africa servicing the continent’s largest economy, that of Nigeria. The Exchange provides capital access to companies that seek to take advantage of the financial markets to fund their business expansion. The NGX also provides its collection of domestic, regional, and international investors with an array of regulated securities to achieve their investment objectives.

The NGX30 and NGX50 are additional indices that track the top 30 and 50 companies in terms of market capitalization and liquidity respectively. Only fully paid-up common shares weighted by adjusted market capitalization are admitted to these indices.

In March 2021, the Nigerian Stock Exchange was transformed into a shareholder-owned, profit making entity, the Nigerian Exchange Group Plc, when it was demutualised from a member-owned not-for-profit entity.

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Nigel Firth
Nigel Frith trader
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.