Top 10 Insurance Companies in Nigeria

Top 10 Insurance Companies in Nigeria
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1. LEADWAY Assurance Company.

LEADWAY offers insurance services in both Life and pension and general businesses. The company also offers allied financial services like Bond, Secured Credit, Miscellaneous financial losses and Fund / Portfolio management.

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Custodian & Allied Insurance is a solely owned Nigerian Company. CAIL’s main purpose is to develop, package and deliver innovative insurance products that best satisfy customer demand, at the same time operating a highly profitable, efficient, resourceful and ethical organization that will live well in the future and be a valuable asset to its shareholders.

The Insurance Policy gives the business owner the choice of selecting some or all of the insurance plans that meet the need of their business.

4. CORNERSTONE Insurance plc.    

Cornerstone Insurance Plc. was incorporated on 26th July 1991 as a private limited liability company but later grew into a Public Limited Liability, quoted on the Nigerian Stock Exchange in 1997. The organization was established to carry out Insurance business in a professional, ethical and customer-focused manner and has stayed committed to these values over the years.

The Company is licensed and re-certified by the National Insurance Commission (NAICOM) to carry out both General and Life businesses insurance.

4. AXA MANSAERD Insurance Company

AXA Mansard is a member of the AXA Group, the international leader in insurance and asset management with 166,000 workers serving 107 million clients in sixty-four countries. The group is a conglomerate of independently run businesses, operated according to the laws and regulations of many various countries.

The Company renders life and non-life insurance products and services to persons and institutions across Nigeria at the same time offering asset/investment management services, health management services and pension fund administration through its three subsidiaries AXA Mansard Investments Limited, AXA Mansard Health Limited, and AXA Mansard Pensions Limited.

5. African Alliance Insurance plc.

This company was officially incorporated on May 6, 1960, by the founders Chief S.L. Edu (CON), Mr. T. A. Braithwaite (CON) and Chief M.E.R. Okorodudu, supported by world-class reinsurers and co-shareholders, Munich Reinsurance Company.

Alliance Insurance Plc. is widely recognized for their efficiency and honesty in Life Assurance, serving thousands of customers with personalized insurance products tailored for each stage of their lives.

Today, African Alliance Insurance Plc. drives innovation in the 21st century and outstandingly positions itself to offer premium value to all its stakeholders, from its esteemed customers to its workers, partners, and shareholders.

6. Goldlink  Insurance Plc.

Goldlink Insurance Plc. was incorporated on 15th April 1992 as a Private Limited Liability Company and given license to operate as a full-fledged insurance company on 8th September 1993. Goldlink was incorporated with an authorized share capital of N10million with fully paid-up capital of N10million.

This company is owned by Nigerians and is licensed to underwrite both Life and General Businesses which including Fire and Special Perils, Motor Insurance, Life & Pension, Oil & Gas, Travel Insurance and many others, with suitable policies to meet the needs of its customers.

7. Continental Insurance

Continental insurance was incorporated in Nigeria in the year 1985. Continental insurance started business initially as a private insurance company. From January 1987, the company began operating as a general insurer and in January 1990, they turned out to become a composite insurer, offering both treaty and facultative life and non-life reinsurance, with a well-diversified business mix and customer base.

Continental insurance is the isolated sector champion of the pan-African insurance industry. The insurance company engages in the life and non-life insurance business across the continent, offering its customers with different policies to meet their demand.

8. Industrial and General Insurance Plc

This company (IGI) was first incorporated as a private limited liability company on 31 October 1991 and later re-registered as a public limited liability company in the year 2007. It started a business in January 1992 as a composite insurer to transact the business of Life and General insurance, including Pensions and Special Risks.

Supported by a strong capital base, first-class professionals and deployment of modern technology, the company immediately established a reputation for exceptional competence. The Company attention’s on understanding each individual client’s peculiar needs to assess the risks which the client is exposed to, in order to offer tailor-made insurance solutions.

9. Lasaco Assurance Plc.

This is composite insurance and financial services company incorporated on 20th of December 1979 under the Companies Decree of 1968. The Company, then known as Lagos State Assurance Company Limited, obtained License as an Insurer on 7th July 1980 and started business operations on 1st of August 1980.

With the massive opportunities presented by increased capitalization for business expansion and growth, LASACO became a Public Liability Company in the year 1991 when its Shares were admitted for the first time to the Nigerian Stock Exchange (NSE) through listing by Introduction.

10. Aiico Insurance Plc.

This company (AIICO) was established in the year 1963. It is an insurance, pensions management, and asset management Group in Nigeria with market-leading positions in its key business lines to Life assurance and annuity, General insurance and special risks, Pension management, Health insurance, and Asset management.


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