NGX lifts trading suspension on Universal Insurance shares

The Nigerian Exchange Ltd. (NGX) on Wednesday lifted the suspension placed on trading of the shares of Universal Insurance Plc.

This development enables shareholders to resume trading on the company’s shares on the NGX platform.

In its weekly report, the NGX stated, “We refer to our Market Bulletin dated 1 September 2025 with Reference Number: NGXREG/IRD/MB64/25/09/01 wherein we notified Trading License Holders and the investing public of the suspension in the trading on the shares of Universal Insurance Plc (the Company).”

According to NGX the rules mandated that “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the Exchange will send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; suspend trading in the Issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension”.

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The Company has now filed its Audited Financial Statements for the year ended 31 December 2024 (2024 AFS) and outstanding Unaudited Financial Statements for 2025.

It added that in view of the Company’s submission of its 2024 AFS, and pursuant to Rule 3.3 of the Default Filing Rules, which states that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted Trading License Holders and the investing public are hereby notified that the suspension placed on trading on the shares of Universal Insurance Plc was lifted today, Wednesday, 3 September 2025.

Modestus Anaesoronye

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.