Nigerian insurance stocks had their biggest weekly gain in almost two decades after a new law was passed requiring companies to raise fresh capital and making insurance for property and other assets mandatory.
A gauge for the sector on the Lagos-based Nigerian Exchange has risen 41% this week, according to data compiled by Bloomberg. That compares with a 3,1% rise in the broader all-share index and 2.2% for the MSCI Emerging Markets Europe, Middle East and Africa Index over the same period.
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