SUNU Assurances Increases Capital to N25.95bn with New Shares

SUNU Assurances Nigeria Plc has enhanced its issued share capital to 7.89 billion shares by listing 2.08 billion new ordinary shares on the Nigerian Exchange. This listing occurred on August 31, 2026, following a Rights Issue priced at N4.50 per share, which was offered to existing shareholders at a ratio of five new shares for every 14 held.

The total value of the additional shares is N9.34 billion. As of September 4, 2026, SUNU's shares closed at N3.29, reflecting a market value of about N25.95 billion.

Despite a 1.86 percent gain on that day, the stock has seen a year-to-date decline of 40.18 percent from its opening price of N5.50 for 2026. The recapitalization aims to meet the higher minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025.

SUNU's management plans to implement a technology-driven expansion strategy focusing on artificial intelligence, digital transformation, and operational efficiency while targeting growth in retail and SME segments.