Top Insurance Companies in Nigeria – 2024 Updated list

Finding the right insurance provider in Nigeria can be overwhelming. It could be that you are in need a of car, health, or life insurance, it is important to choose the specific insurance company that speaks to your needs.

To make this easier for you, we have created a comprehensive list of insurance companies in Nigeria highlighting their unique specialty.

In this guide, you will discover trusted insurance providers to help you protect what matters most to you.

What does an Insurance Company do?

An insurance company in Nigeria provides financial, health, life, car, and property protection to individuals and businesses by covering potential losses due to various risks.

When you buy an insurance policy, you enter an agreement with the insurer and they agree to cover certain costs if you experience a loss or an accident.

In 1958, the first indigenous insurance company in Nigeria was established and by October 1, 1960, when Nigeria gained its independence, there were about 4 ingeniously owned Insurance Businesses.

Ever since that time, the Insurance Industry has been growing at a quick rate.

In 1997, the Federal Government of Nigeria established the National Insurance Commission (NAICOM), which oversees and regulates insurance activities in the Nigerian insurance sector.

As of today, according to NAICOM, there are a total of 58 registered Insurance companies operating in Nigeria.

Here is a complete list of all the Insurance Companies in Nigeria along with their unique specialties to help you find the right provider for your insurance needs.

List of Insurance Companies in Nigeria

1. African Alliance Insurance Company Ltd
2. AIICO Insurance Plc. 004     
3. Alliance & General Insurance Plc.
4. ALLIANZ NIGERIA INSURANCE PLC
5. Anchor Insurance Company Ltd
6. ARM Life Plc.
7. AXA Mansard Insurance plc.
8. Capital Express Assurance Limited
9. Consolidated Hallmark Insurance Plc.
10. Continental Reinsurance Company Plc.
11. Cornerstone Insurance Plc.
12. Custodian & Allied Insurance Limited
13. Custodian Life Assurance Limited
14. FBN General Insurance Limited
15. FBN Insurance Limited
16. Fin Insurance Company Limited
17. Great Nigeria Insurance Plc.
18. Guinea Insurance Plc.
19. Goldlink Insurance Plc.
20. International Energy Insurance Plc.
21. Industrial & General Insurance Plc.
22. JAIZ TAKAFUL INSURANCE PLC
23. KBL Insurance Limited
24. LASACO Assurance Plc.
25. Law Union & Rock Insurance Plc.
26. Leadway Assurance Company Limited
27. Linkage Assurance Plc.
28. Tangerine Life Insurance Ltd        
29. Mutual Benefits Assurance Plc.
30. Mutual Benefits Life Assurance Ltd
31. NEM Insurance Plc.
32. NICON Insurance Plc.
33. Niger Insurance plc.
34. Nigeria Reinsurance Corporation
35. Nigerian Agricultural Insurance Corporation
36. NSIA Insurance Ltd
37. Old Mutual Nigeria General Insurance Company Limited
38. Old Mutual Nigeria Life Assurance Company Limited
39. Prestige Assurance Plc.
40. Prudential Zenith Life Assurance Company Limited
41. Regency Alliance Insurance Plc.
42. Royal Exchange Prudential Life
43. Royal Exchange Prudential Life
44. Unitrust Insurance Nigeria Limited
45. Sovereign Trust Insurance Plc.
46. STACO Insurance Plc.
47. Standard Alliance Insurance Plc.
48. Sterling Assurance Nigeria Ltd
49. SUNU Assurance Plc.
50. UNIC Insurance Plc.
51. Universal Insurance Plc.
52. Veritas Kapital Assurance Plc.
53. Coronation Insurance
54. Coronation Life Assurance Lt
55. Zenith General Insurance Company Limited
56. GOXI Micro insurance           
57. NOOR Takaful Plc.
58. Cornerstone Takaful Insurance Co. Ltd

Conclusion

Over the years, the Insurance industry in Nigeria has been growing from strength to strength. It is safe to say that this industry is one with many potentials that will be uncovered in time.