SUNU Assurances Lists N9.34 Billion Shares on NGX

SUNU Assurances Nigeria Plc has listed an additional 2,075,285,714 ordinary shares valued at N9.34 billion on the Nigerian Exchange (NGX) as part of its post-recapitalisation strategy focused on artificial intelligence-driven growth, digital transformation, and product innovation. The new shares were listed on August 31, 2026, following a Rights Issue executed at N4.50 per share, increasing SUNU’s issued shares from 5,810,800,000 to 7,886,085,714.

At the closing share price of N3.29 on September 4, the enlarged issued share capital was worth approximately N25.95 billion. SUNU's management, including Chairman Mr. Kyari Bukar and Managing Director/CEO Samuel Ogbodu, outlined a strategy for operational efficiency and market expansion.

Shareholders at the 39th Annual General Meeting ratified the appointments of three new directors and approved TAC Professional Services as the new external auditor, replacing SIAO Partners. SUNU’s recapitalisation was driven by NIIRA 2025, which raised the minimum capital requirement for non-life insurers.