Top 20 Insurance Companies in Nigeria

Top 20 Insurance Companies in Nigeria are listed and explicated one by one in this article for your perusal.

List of insurance companies in Nigeria

Top 20 Insurance Companies in Nigeria
Insurance Companies in Nigeria – Photo Source:

In a developing economy like Nigeria, Insurance Companies have an important role to play and tend to be more considerable and recognized according to their significant characteristics.

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These 20 Insurance Companies have been rated as the most suitable or the best in Nigeria. This article will focus solely on the excellent services provided by these top Insurance Companies in Nigeria.

1. Leadway Assurance Company

This is a thriving insurance company in Nigeria. This company delivers insurance services on business, life, tourism, personal property, and casualty.

Aspect from this, Leadway Assurance Company presents additional subsidiary financial services like bonds, secured credit, various monetary losses, and fund/portfolio board and also proposes several insurance treatments like commercial and individual insurance services.

2. Great Nigeria Insurance Plc.

Provides several insurance treatments that cover unusual tragedies like life, fire, individual accident, car, cash, robbery, expert protection, and marine insurance services. It has an unceasingly set and structured reassurance treaty with a consortium of domestic and foreign upright reassurance companies by offering the obliged ability to be able to avoid any further or futuristic risk.

3. Standard Alliance Insurance

Is popularly recommended for its excellent service and great customer support. It provides shield and insurance treatments under home-based, individual, commercial, engineering, and other exclusive insurance services.

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4. Cornerstone Insurance Plc.

Provides several insurance treatments such as a motor vehicle, aviation, marine, and manufacturing all dangers associated with assets and other liabilities. This insurance also covers issues like oil and gas, loan protection, and other prosperity-creation products.

5. AIICO Insurance Plc.

Was founded in 1963 as a financial service group with a market-guiding view. AIICO Insurance Plc. has several insurance treatments which consist of life assurance and allowance, health insurance, business lines, health maintenance, and asset management.

6. Custodian and Allied Insurance

Aspect being an insurance company, Custodian and allied insurance are one of the guiding insurance companies in Nigeria that functions in a dual capacity both as an insurance company and as a financial service sector.

7. Niger Insurance Plc.

Is also another popular leading insurance company in Nigeria that is unique and known for performing excellent services like innovative and customer-oriented insurance products in life and non-life insurance to its esteemed and developing customers.

8. Continental Reinsurance

Also guarantees both treaty and facultative life and non-life reinsurance, with varied or expanded business mix and customer base system to attract more customers.

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9. AXA Mansard Insurance

Has listed as an amalgam company with the National Insurance Commission of Nigeria (NAICOM) and was established in 1989 as a private limited liability company.

10. Nicon Insurance Limited

Was founded as a public limited liability company and then restructures as a private limited liability company through privatization. This restructuring was done to ensure that it adds to the growth and development of the insurance industry.

11. African Alliance Insurance Plc.

Was established in 1960. Over the years, it has had a system of 18 branches with notable and recommendable years of experience in the financial industry.

12. Ark Insurance

Is a specialized Insurance broker certified by the National Insurance Commission (NIC). In the last 45 years, this insurance company has used its experience to deliver excellent services to both local and multinational clients.

13. Ark Insurance

Is rated as one of the best insurance companies as it assists its clients to prevent, control, ease or alleviate any associated risks

14. Lasaco Assurance Plc.

Was established in 1979 as a composite insurance company intended to meet the demands of its customers and other insurance and special risk business, high-impact financial service, etc.

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15. NSIA Insurance

Is a company with a great standard that believes in delivering suitable risk management for individuals and businesses.

Another top insurance company that operates as a private limited liability company was and was established in 1992. The insurance services offered include fire and special perils, travel insurance, motor insurance, life & pension, and oil & gas.

17. Consolidated Hallmark Insurance Plc.

Is one of the top 20 insurance companies that offer exclusive business and special risk insurance supporters in Nigeria.

18. Guinea Insurance Plc.

Has operated since 1948 under the British West African Corporation Limited (BEWAC) and was licensed in 1958, as a non-life insurance underwriting firm to provide first-rate insurance keys in the general commercial class.

19. Nem Insurance Plc.

Nem Insurance Plc. began the process in 1948 and was privatized by the Federal Government of Nigeria then a recapitalization in 2007.

The company was in partnership with a vigilant insurance company limited to handling and managing all classes of general insurance.

20. FBN Insurance

FBN Insurance is a Limited Liability Company that is certified to carry out business transactions, especially on life insurance.


These companies are classified as the best due to the fact that it is basically technologically driven and has prompt product and service delivery.

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There are certified by the National Insurance Commission (NAICOM) to handle overall and exclusive risk insurance businesses.

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