The Top 10 largest African-listed insurance firms record a 5% drop in their market capitalisation this year
The market capitalization of the top ten insurance companies listed on African financial markets has decreased this year.
According to data compiled by Ecofin Agency on various stock exchanges in the region, from about $30 billion on January 1, 2019, it dropped to $28.5 billion on February 14, 2019.
Moroccan Saham Assurance and its parent company Sanlam are among the six firms in the sector whose market capitalisation has decreased. During the period, the capitalization of Saham Assurance decreased by 8.6% while Sanlam’s dropped by 5.25% on the Johannesburg Stock Exchange.
On their respective financial markets, the consensus of analysts recommends the sales of those firms’ shares. Let’s note that in H1, 2018, the four firms with the largest decrease in market capitalization (South Africans Discovery, Liberty and MMI Holdings as well as Moroccan Saham Assurance) recorded a drop in their net income.
Source: Ecofin Agency