Worldwide Vitality Insurance coverage Plc (IEI) has introduced that the Nigerian Alternate Restricted (NGX) has formally lifted the suspension on the buying and selling of its shares.
The corporate disclosed this in a discover filed with the NGX and addressed to buyers and the general public.
In line with IEI, the suspension was associated to regulatory compliance regarding the finalization of its 2024 audited accounts, which have now been launched.
Talking on the event, the corporate described the transfer as a turning level, stating:
“The lifting of the suspension marks a brand new chapter in our journey of restoration and development. With this step, we’re targeted on rebuilding investor confidence and delivering long-term worth for all stakeholders.”
IEI’s shares, buying and selling underneath the ticker INTENEGINS, had been suspended since September 1, 2025, throughout which there was no worth motion or buying and selling exercise.
Following the resumption of buying and selling on October 2, the inventory has slipped over 10% month-to-date however has seen renewed exercise, with over 7 million shares altering arms.
Including to this optimistic occasion, the corporate additionally introduced that it has totally exited its long-standing Daewoo mortgage.
Daewoo mortgage settlement:
In late August 2025, Worldwide Vitality Insurance coverage Plc (IEI) introduced the complete settlement of its excellent mortgage to Daewoo Securities, now often known as Mirae Asset Securities (UK) Restricted.
In a submitting with the Nigerian Alternate (NGX), the corporate defined that the mortgage was a JPY 1.85 billion zero-coupon bond initially due for compensation in 2028.
Throughout its Annual Common Assembly held in Jigawa on April 10, 2025, shareholders authorised the switch of the excellent debt to Norrenberger Advisory Companions Restricted (NAPL), which was tasked with settling the bond on the corporate’s behalf.
IEI had initially issued the zero-coupon bond to Daewoo Securities (Europe) Restricted on January 24, 2008.
- The bond carried a 20-year maturity, with compensation of the principal scheduled for January 23, 2028.
Nonetheless, IEI confronted monetary challenges years after.
To strengthen its funds, IEI accepted a compulsory takeover bid from Norrenberger Advisory Companions Restricted (NAPL), a course of that started in 2021.
In line with an NGX submitting, NAPL acquired 649.8 million shares, giving it a 50.61% controlling stake within the firm, a transfer anticipated to stabilize operations and enhance its monetary well being.
By August 2025, NAPL efficiently settled the excellent zero-coupon bond due in 2028, a milestone that displays the advantages of the acquisition.
With its audited accounts launched and buying and selling suspension lifted, IEI may regain investor confidence, relying on its monetary efficiency and upcoming company actions.
H1 2025 efficiency
Worldwide Vitality Insurance coverage Plc (IEI) reported a pre-tax revenue of N679.1 million for the interval ended June 30, 2025, in comparison with N1.04 billion in the identical interval of 2024.
Insurance coverage income declined to N2.3 billion from N3 billion a yr earlier.
- Though insurance coverage service bills dropped to N866 million from N1.2 billion, the insurance coverage service outcome additionally fell to N1.2 billion, down from N1.6 billion in 2024.
Web funding revenue decreased by 8.84% to N237.2 million, whereas the mixed web insurance coverage and funding revenue stood at N1.49 billion, representing a 22.7% year-on-year decline.
Nonetheless, the steadiness sheet confirmed enchancment, with whole property rising to N17 billion from N16.8 billion in 2024, whereas whole liabilities barely decreased to N24.06 billion from N24.4 billion within the earlier yr.
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