List of Top Insurance Companies In Nigeria 2024

Insurance is a valuable service that helps you protect yourself, your business, and your family from unforeseen events.

However, as much as you do not want certain occurrences to occur, they are unavoidable, which is why they are said to as unexpected.

The good news is that whenever they occur, insurance promises to cover you. To assist protect your family, businesses, and yourself from any threats, we have collected a comprehensive list of insurance companies in Nigeria from which you can select.

It is crucial to note that there are various additional insurance companies in Nigeria, however the following is a list of our top 25 in no particular order.

1.  AIICO Insurance Plc.

AIICO Insurance is one of the leading players in the Nigerian insurance companies. They founded this company in 1963 and have since risen through the insurance sector ranks to become a major player. Furthermore, they specialize in general insurance, life insurance, specific risks, health, asset management, and pension management.

2. Leadway Assurance Company

Leadway Assurance was founded in 1970 and has been actively involved in an insurance company since then. They specialize in business, life, and pension insurance. They also provide allied financial services. This involves portfolio management, credit bond investments, and other financial losses.

3. Custodian and allied insurance

Custodian and Allied Insurance is a wholly-owned insurance firm that meets its customers’ creative insurance product demands. This, they feel, will help to ensure consumer pleasure. Furthermore, they provide a large choice of insurance policies that are suited to your specific needs.

4. Cornerstone Insurance Plc.

Cornerstone Insurance was established in 1991 as a private limited liability company. However, in 1997, they organized as a Public Limited Liability Company. They are a devoted insurance Company  that prioritizes their clients’ needs in all circumstances.

5. AXA Mansard Insurance

AXA Mansard is part of the AXA Group. With more than 160,000 workers, they are one of the world’s leading asset management and insurance companies. In addition, they service about 107 million clients in over 60 countries.

6. African Alliance Insurance Plc.

AAI was founded in 1960 and has since established itself as a leader in the insurance Company. They primarily focus on insurance packages that are suited to your specific needs. Some of their policies include investment insurance plans, annuities, group life insurance, and so on.

7. Lasaco Assurance Plc.

Lasaco is a financial services and composite insurance company founded in December 1979. The name Lasaco is an abbreviation for Lagos State Assurance Company Limited. They received their license to operate as an insurer in Nigeria in 2980. Lasaco specializes in General Insurance, Life Insurance, and Online Payments.

8. Anchor Insurance

Anchor Insurance is a significant insurance company in Nigeria. NAICOM registered them in 1989, and they began operations in November of that year. Anchor Insurance specializes on general business insurance. Anchor insurance is popular because people believe that clients are the reason they are in business. This means that meeting the needs of their customers is their top priority.

9. Goldlink Insurance

On April 15, 1992, they founded Goldlink Insurance as a Private Limited Liability Company. However, in September 1993, they became a full-fledged insurance company. Goldlink has been able to stand out in the insurance market as a result of their unwavering devotion. Goldlink specializes in general business, life, travel, and automobile insurance.

10. Continental Reinsurance

Continental Insurance began as a private insurance company in 1985. However, in 1990 they became a full-fledged insurer. They offer both non-life and life insurance. Aside from this, they have a diverse company mix and consumer base. Their goal is to become one of the most well-known insurers not only in Nigeria, but throughout Africa.

11. Consolidated Hallmark Insurance

CHI Plc, often known as Consolidated Hallmark Insurance, is a significant insurance company in Nigeria. They are determined to transform the way people see insurance in Nigeria. CHI Plc. believes they can accomplish this with the support of technology and the people they have on staff. Consolidated Hallmark also offers a variety of insurance options that are suited to your specific needs.

12. FBN Insurance

First Bank of Nigeria Insurance is a subsidiary of First Bank of Nigeria. FBN insurance is essentially a life insurance company that provides coverage to individuals and corporations. They design FBN Insurance products to help you enjoy the peace of mind that comes with controlling everyday risks.

13. Niger Insurance Plc.

Niger Insurance is a completely automated insurance company. They specialise in all types of insurance and provide a diverse selection of customer-focused and creative services. Niger Insurance’s management staff is extremely qualified and possess substantial managerial skills.

14. NEM Insurance

NEM Insurance has existed for a very long period. They generally began in Nigeria as Edward Turner and others. However, in 2007, they joined with Vigilant Insurance Company to offer all types of general insurance. They have gradually increased their business in the West African sub-region. NEM insurance majors primarily focus on general insurance and specific risks.

15. Mutual Benefits Assurance Plc.

Mutual Assurance has grown over time to become one of Nigeria’s most trusted brands. They are essentially an organization with interests in several sectors of the Nigerian economy. They have about 3,000 employees and a customer base of 250,000.

16. Staco Insurance Plc.

They established Staco in Nigeria in October 1991. They did, however, enter the insurance sector in 1994, under a new name. They granted them a license to conduct all types of insurance transactions. This encompasses both General Insurance and Special Risks.

17. Nicon Insurancer

NICON is one of Africa’s top insurance Companies. They were technically held by the Federal Government of Nigeria to help strengthen the insurance market. However, in 2005, they were privatized. They have offices in all 36 states of the country. Furthermore, they provide different policies geared to fit your insurance requirements.

19. Guinea Insurance Plc.

Guinea Insurance has always lived true to its name by providing risk management solutions that are ahead of the competition. In reality, they are one of the leading providers of high-quality financial risk solutions in General Insurance and Special Risks. Guinea Insurance has a robust capital foundation, highly qualified staff, and operates with cutting-edge technology.

20. Coronation Insurance Plc.

Coronation Insurance is one of the top companies in the West African insurance Industry. They were founded in 1958 and have gained extensive experience in risk management and underwriting. Furthermore, they provide a diverse range of products and services for life, general, and special risk industries.

21. Great Nigeria Insurance Plc.

The goal of GNI is to generally live true to their business philosophy, which is represented in its principles. Over the years, they’ve assembled a dynamic and purposeful staff of highly experienced individuals. Their core principles include professionalism, empathy, teamwork, innovation, integrity, and excellence.

22. Standard Alliance Insurance Company Limited

Standard Alliance is a high-profile technology and customer-focused insurance company in Nigeria. They are among the best and most regarded in the insurance market due to their superior product and service performance. They specialize in both general and special risk insurance.

23. Law Union and Rock Insurances

Law insurance unions have existed for a while. They are one of the earliest insurance companies to establish offices in Nigeria. They began operations in 1951 and have worked tirelessly to become one of Nigeria’s premier insurance companies. Law and Union specializes in general insurance products.

24. Sovereign Trust Insurance Plc.

Sovereign Trust began operations in 1985, following a restructuring as Grand Union Assurance Limited. They have a nationwide network of branches. Sovereign Trust specializes in a wide range of goods and services tailored to your needs.

25. Regency Alliance Insurance Plc.

With over 20 years of experience in the Nigerian insurance Companies, Regency Alliance is virtually unequaled in the General Insurance Company Market. They cultivate the greatest insurance service possible through their extensive underwriting experience. They also provide a range of customized insurance solutions in partnership with their intermediaries and technical partners.

Conclusion

Some notable insurance companies. did not make the list. You may also want to look into them or read about them to see which ones interest you. Some notable insurance businesses are left from the list. You may also want to learn more about them and determine whether they best match your needs. Examples include Veritas Capital Assurance, Sunu Assurance Limited, and Linkage Assurance.

Finally, it is crucial to know that insurance is a reliable way to protect oneself from potential threats. As a result, you can use any of insurance companies. mentioned in this article to protect yourself, your family, your business, and your property from any unforeseen events.