Kindly Share This Story:Weak earnings, low returns also fuel inactivity – Operators By Nkiruka Nnorom THE shift in the deadline for insurance firms to beef up their capital in compliance with the new minimum capital requirement of the National Insurance Commission, NAICOM, has worsened the woes of the companies quoted on the Nigerian Stock Exchange (NSE), as investors have continued to keep safe distance from shares of the companies. Financial Vanguard’s analysis of trading in the shares of insurance firms, quoted on NSE since the beginning of the year showed that more than half of the stocks have so far recorded zero returns to investors, with the sector as a whole recording +2 percent, Year-to-date (YtD) returns. This is in sharp contrast to Year-to-date (YtD) returns of +4.6 percent recorded by the NSE at the close of trading on Friday, February 7. Market operators believe that return-on-investment in the sector should have been more if the recapitalisation had been concluded and there is trading activity in the shares of all the insurance companies quoted on the Exchange. Besides the delay in concluding the recapitalisation exercise, operators also pointed to weak earning reports and history of non-dividend payment in the sector… Read full this story
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