Insurance Stocks Lead the Charge: AIICO, Jaiz Bank & Transcorp Power Shine in Weekly Picks
The Nigerian insurance sector is on fire — and not just metaphorically. Following last week’s landmark Nigerian Insurance Industry Reform Act, investor confidence in insurance equities has soared to its highest in years. The sector delivered a jaw-dropping 41% return in just one week, its strongest performance since 2009, according to Nigerian Exchange data.
The All-Share Index also gained 3.2% during the same period. Analysts at Meristem Securities expect the bullish momentum to continue as investors reprice stocks higher on the back of strong corporate earnings.
This week’s market watch highlights equities with strong fundamentals and potential upside — not as a “buy or sell” order, but as a strategic investment guide.
Top Picks This Week
1. AIICO Insurance
• Trading below intrinsic value
• PB Ratio: 1.7x
• PE Ratio: 9.4x
• RSI: 86.7
2. Jaiz Bank
• Significantly undervalued
• PB Ratio: 2.9x
• PE Ratio: 7x
• RSI: 76.1
3. Transcorp Power
• At lowest price in 52 weeks
• PB Ratio: 15x
• PE Ratio: 27.5x
• RSI: 0
4. Lasaco Insurance
• Moderate RSI suggests room for growth
• PB Ratio: 1.9x
• PE Ratio: -17.4x
• RSI: 65.8
5. Presco
• Trading below intrinsic value
• PB Ratio: 2.2x
• PE Ratio: 5.5x
• RSI: 66.7
6. GTCO
• Trading below intrinsic value
• PB Ratio: 1.2x
• PE Ratio: 3.6x
• RSI: 61.3
Note: This list is a market insight tool, not a recommendation to buy, sell, or hold. Always consult your financial advisor before making investment decisions.
The Nigerian insurance sector is on fire — and not just metaphorically. Following last week’s landmark Nigerian Insurance Industry Reform Act, investor confidence in insurance equities has soared to its highest in years. The sector delivered a jaw-dropping 41% return in just one week, its strongest performance since 2009, according to Nigerian Exchange data.
The All-Share Index also gained 3.2% during the same period. Analysts at Meristem Securities expect the bullish momentum to continue as investors reprice stocks higher on the back of strong corporate earnings.
This week’s market watch highlights equities with strong fundamentals and potential upside — not as a “buy or sell” order, but as a strategic investment guide.
Top Picks This Week
1. AIICO Insurance
• Trading below intrinsic value
• PB Ratio: 1.7x
• PE Ratio: 9.4x
• RSI: 86.7
2. Jaiz Bank
• Significantly undervalued
• PB Ratio: 2.9x
• PE Ratio: 7x
• RSI: 76.1
3. Transcorp Power
• At lowest price in 52 weeks
• PB Ratio: 15x
• PE Ratio: 27.5x
• RSI: 0
4. Lasaco Insurance
• Moderate RSI suggests room for growth
• PB Ratio: 1.9x
• PE Ratio: -17.4x
• RSI: 65.8
5. Presco
• Trading below intrinsic value
• PB Ratio: 2.2x
• PE Ratio: 5.5x
• RSI: 66.7
6. GTCO
• Trading below intrinsic value
• PB Ratio: 1.2x
• PE Ratio: 3.6x
• RSI: 61.3
Note: This list is a market insight tool, not a recommendation to buy, sell, or hold. Always consult your financial advisor before making investment decisions.