WAPIC
Investo's verdict, shared with you
Coronation Insurance Plc has demonstrated a genuine financial turnaround — from two consecutive loss-making years (FY2021–2022) to an ROE of 14.2% in FY2025 and Q1-2026 annualised PAT of ~₦9.1bn run-rate — but at the current price of ₦2.43 the stock trades at a 7.84x P/E and 1.11x P/B, approximately 22% above our base fair value of ₦1.89, leaving insufficient margin of safety. A pending cautionary notice filed 23 October 2026 regarding a proposed Scheme of Arrangement introduces binary event risk that must be resolved before a constructive re-entry.
Verdict published 2026-10-26 · fundamentals through Q1-2026 · reviewed as the data changes
Verdict moderated to Hold — Avoid was refused
Committee scores Value POSITIVE (overall constructive); an "avoid" against our own committee is not publishable without a re-derivation.
Published with 1 open flag · confidence downgraded
Our own committee reads this differently
Our rules-based factor scorecard scores this company's Value factor the opposite way to our fair value. Both cannot be right, so neither is presented as settled.
Committee scores Value POSITIVE (constructive) but our base fair value implies -22.2% downside.
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.