Top 20 Performing Stocks in August 2025: Insurance Sector Dominates as Recapitalization Sparks Rally

August 2025 was a bullish month for the Nigerian stock market, as strong buying momentum pushed several equities to new highs before profit-taking set in toward month-end.

The Nigerian Exchange All-Share Index (ASI) and market capitalization climbed to record levels of 146,570.71 points and ₦92.73 trillion on August 7, driven by robust earnings, macroeconomic stability, and sectoral reforms, particularly in insurance.

However, by the end of August, profit-taking trimmed gains, bringing the ASI to 140,295.49 points and market capitalization to ₦88.77 trillion. Despite this pullback, August will be remembered for the remarkable surge in insurance stocks, following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 by President Bola Tinubu.

The recapitalization directive in the Act sparked renewed investor interest, lifting previously dormant insurance equities to impressive heights. Out of the top 10 gainers, eight were insurance firms, underlining the sector’s dominance during the month.

Top 20 Best-Performing Stocks – August 2025

1. Mutual Benefits Assurance (+114.29%)

Price rose from ₦1.82 to ₦3.90

52-week range: ₦0.67 – ₦4.70

Uptrend potential: 17% to 52-week high

H1 2025 PAT growth: +374% YoY

2. AIICO Insurance (+91.47%)

Closed at ₦4.04 from ₦2.11

52-week range: ₦1.08 – ₦5.11

Upside potential: 21%

3. Veritas Kapital Assurance (+65.35%)

Closed at ₦2.10 from ₦1.27

52-week range: ₦0.86 – ₦3.06

Upside potential: 31%

4. Guinea Assurance (+65.12%)

Price jumped to ₦1.42 from ₦0.86

52-week high: ₦1.87

Upside potential: 24%

(Note: Reported a loss after tax in H1 2025)

5. Regency Assurance (+63.75%)

Closed at ₦1.31 from ₦0.80

52-week range: ₦0.27 – ₦1.83

Upside potential: 28%

6. NCR Nigeria (+59.41%)

Ended at ₦11.55 from ₦7.25

Trading at 52-week high

Sector: IT & Computer Consumables

7. Coronation Insurance (WAPIC) (+56.71%)

Closed at ₦3.62 from ₦2.31

52-week high: ₦4.91

Upside potential: 26%

8. Linkage Assurance (+55.17%)

Finished at ₦2.25 from ₦1.45

52-week high: ₦2.99

Upside potential: 25%

9. Universal Insurance (+53.85%)

Closed at ₦1.20 from ₦0.78

52-week high: ₦1.60

Upside potential: 25%

10. Ellah Lakes (+53.09%)

Closed at ₦14.10 from ₦9.21

52-week high: ₦19.42

Upside potential: 27%

(Despite losses, agricultural sector push is fueling interest)

Other notable gainers:

Prestige Assurance (+50%)

Deap Capital (+44.80%)

Nigerian Enamelware (+44.44%)

Cornerstone Insurance (+38.91%)

International Energy Insurance (+37.71%)

Sovereign Trust Insurance (+37.57%)

Consolidated Hallmark Insurance (+36.94%)

AXA Mansard Insurance (+33.33%)

NEM Insurance (+30%)

Beta Glass (+29%) (hit a 52-week high at ₦486)

Key Drivers of the Rally

Insurance Recapitalization Policy: Boosted investor confidence in the sector

Positive H1 2025 Earnings: Strong performance in several sectors

Low Fixed-Income Yields: Pushed investors toward equities

Macro Reforms: Renewed optimism in Nigeria’s economic outlook