AFRINSURE
Investo's verdict, shared with you
No fair value published
No valuation could be derived for this company from the inputs we hold.
Show what the engine computed
Input quality · no EPS within 2y — latest usable is FY2021, refused as a current anchor
Input quality · no BVPS within 2y — latest usable is FY2022, refused as a current anchor
African Alliance Insurance Plc presents a deeply distressed investment profile: Q1-2023 results reveal a net loss of N1.72bn on revenue of N1.87bn, a solvency margin deficit of N7.27bn, and an ROE of -272%, indicating the company is consuming equity faster than it can replenish it. The stock trades at N0.20 (market cap N4.12bn) against total equity of only N631m, implying a P/B of approximately 6.5x on a severely impaired book — far above our independent data source-indicated 0.81x P/B which itself likely uses stale or adjusted equity figures. NAICOM's regulatory administration (lifted June 2026) and a newly installed board create an option on a restructuring outcome, but the current capital base is insufficient to support ongoing operations without the proposed N12bn recapitalisation.
Verdict published 2026-09-05 · fundamentals through Q3-2023 · reviewed as the data changes
Verdict moderated to Watch — Avoid was refused
Committee scores Value POSITIVE (overall cautious); an "avoid" against our own committee is not publishable without a re-derivation.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.