By Progress Godfrey

International Energy Insurance Plc (IEI) has outlined plans to deepen its position in Nigeria’s insurance market after posting a 700 per cent rise in its share price since 2023, signalling strong investor confidence in its restructuring drive.

The company disclosed this at its Capital Markets Day held in Lagos recently, where it engaged investors and market stakeholders on its growth strategy and financial outlook amid ongoing industry recapitalisation.

IEI said the forum provided an opportunity to highlight its financial resilience and readiness to compete more strongly as regulatory changes reshape the insurance landscape.

Speaking on the company’s performance, the Chief Financial Officer, Uyi Osagie, said: “Over the past five years, IEI Plc has undergone a disciplined and deliberate transformation anchored on governance, capital efficiency, and operational restructuring.

“This has translated into a stronger balance sheet, improved underwriting quality, and renewed market confidence. The 700% growth in our share price since 2023 is not incidental—it reflects the market’s recognition of the fundamentals we have rebuilt.

“As the industry aligns with evolving regulatory expectations and recapitalisation requirements, we see this as a validation of our early positioning. Our focus has been to stay ahead of policy direction, strengthen our capital base, and ensure we are structurally sound to deliver long-term value. We are confident that IEI is now firmly on a sustainable growth path, well-positioned to play a more significant role in Nigeria’s insurance sector.”

A technical session led by Proshare’s Managing Editor, Teslim Shitta-Bey, examined macroeconomic trends influencing the Nigerian stock market, with a focus on emerging opportunities within the insurance sector.

Stakeholders at the event pointed to the company’s valuation growth as evidence of improving market sentiment, linking the rally to its governance reforms and operational restructuring.

The company said it would continue to engage investors while strengthening its capital base and expanding its underwriting capacity to sustain growth and deliver long-term value.