WAPIC

Coronation Insurance Plc trades at ₦2.35, essentially at our blended base fair value of ₦2.24 (P/B-anchored, 50% weight) with negligible upside of -4.8% to base, leaving risk/reward roughly balanced at current levels. The company posted Q1-2026 revenue of ₦20.9bn and PAT of ₦2.3bn on a growing balance sheet of ₦111bn total assets, with FY2025 ROE of 13.6% — real but below the 18% cost of equity implied by our justified P/B, which yields a sub-book intrinsic value of ₦1.50. The committee score reads 'constructive' on value and quality but flags negative momentum, accurately reflecting a stock down 27.7% from its FY2025 year-end close of ₦3.25 to ₦2.35 with no dividend yield disclosed.

Verdict published 2026-08-10 · fundamentals through Q1-2026 · reviewed as the data changes