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Investegate |Personal Group Announcements | Personal Group: Interim Results & Interim Dividend

Investegate |Personal Group Announcements | Personal Group: Interim Results & Interim Dividend
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16 insurance firms pay N67 12bn claims in six months

Adepeju Adenuga Published 7 August 2021The total claims paid by sixteen insurance companies in the country rose by 36.48 per cent in the first half of this year from N49.18bn in the same period of 2020.An analysis of data collated by our correspondent from the companies’ unaudited financial statements showed that they paid policyholders N67.12bn in claims in H1 2021.The PUNCH had reported in July that the Commissioner for Insurance, Mr Sunday.

Best performing stocks for half-year 2021

The Nigeria Exchange Group Limited (NGX) started 2021 on a good note as the last trading day of 2020 earned the local bourse a warm ovation by reflecting over 50% growth year–to–date. Although the NGX began the year with an air of optimism, its performance has been beset by a number of macroeconomic factors that have influenced the investment decisions of retail and institutional investors and affected local and foreign direct investments. In the first half of the year 2021, the All-Share Index (ASI) of Nigeria’s stock market declined by 7.87% from 41,147.39 to 37,907.28 points. Despite the negative movement, 54 of the 168 companies listed on the exchange appreciated with the top 10 stocks gaining no less than 61% year-to-date. It is worthy of note that most of the stocks on the list of the best-performing stocks are insurance companies and none are banks.

Hot stocks in the month of June | Nairametrics

The Nigeria Exchange Limited (NGX) ended the month of June on a positive note as bulls dominated proceedings in the market on the 30th of the month. The ASI (All share Market Index) appreciated by 0.71% to close at 37,907.28 and the Market cap increased by N138 billion. Nestle Nig Plc led the 20 gainers against 16 losers to close the day, taking the market breadth to 1.25x, reflecting a bullish market. However, month-on-month, the Nigerian Exchange ASI depreciated by 1.38% from 38,437.88 points in May 2021 to 37,907.28 in June 2021. The situation was largely brought about by investors continuing to short their investments in equities to take positions in the Fixed Income space where rates are rising, in a bid to take shelter from the onslaught of Nigeria’s inflation rates.

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