List of Insurance Companies in Nigeria – 2022
We are able to mainly hyperlink the inception of Insurance coverage in Nigeria to the arrival of British Buying and selling corporations. These corporations needed to handle the dangers related to their companies.
Due to this fact, they needed to set up insurance coverage companies that bought their licenses from overseas. These licenses enabled these firms to facilitate problem cowl and claims facilitation.
Throughout this period, the insurance coverage trade in Nigeria started to develop at a quick fee. However, in the course of the 1919s and 20s, it witnessed sluggish development due to the impression of the Second World Conflict.
Nevertheless, as soon as the conflict was over, the insurance coverage enterprise picked up and grew at a quicker fee.
In 1958, they established the primary indigenous firm in Nigeria. By October 1st, 1960, when Nigeria gained its independence, there have been about 4 ingeniously owned Insurance coverage Companies.
Ever since that point, the Insurance coverage Trade has been rising at a fast fee.
Moreover, in 1997, the Federal Authorities of Nigeria created the Nationwide Insurance coverage Fee (NAICOM).
They saddle them with the duties of overseeing and organizing insurance coverage actions in Nigeria.
As of at this time, in keeping with NAICOM, there are a complete of 58 Insurance coverage firms in Nigeria.
Here’s a full record of all of the Insurance coverage Corporations in Nigeria.
List of Insurance Companies in Nigeria
- African Alliance Insurance Company Ltd
- AIICO Insurance Plc. 004
- Alliance & General Insurance Plc.
- ALLIANZ NIGERIA INSURANCE PLC
- Anchor Insurance Company Ltd
- ARM Life Plc.
- AXA Mansard Insurance plc.
- Capital Express Assurance Limited
- Consolidated Hallmark Insurance Plc.
- Continental Reinsurance Company Plc.
- Cornerstone Insurance Plc.
- Custodian & Allied Insurance Limited
- Custodian Life Assurance Limited
- FBN General Insurance Limited
- FBN Insurance Limited
- Fin Insurance Company Limited
- Great Nigeria Insurance Plc.
- Guinea Insurance Plc.
- Goldlink Insurance Plc.
- International Energy Insurance Plc.
- Industrial & General Insurance Plc.
- JAIZ TAKAFUL INSURANCE PLC
- KBL Insurance Limited
- LASACO Assurance Plc.
- Law Union & Rock Insurance Plc.
- Leadway Assurance Company Limited
- Linkage Assurance Plc.
- Tangerine Life Insurance Ltd
- Mutual Benefits Assurance Plc.
- Mutual Benefits Life Assurance Ltd
- NEM Insurance Plc.
- NICON Insurance Plc.
- Niger Insurance plc.
- Nigeria Reinsurance Corporation
- Nigerian Agricultural Insurance Corporation
- NSIA Insurance Ltd
- Old Mutual Nigeria General Insurance Company Limited
- Old Mutual Nigeria Life Assurance Company Limited
- Prestige Assurance Plc.
- Prudential Zenith Life Assurance Company Limited
- Regency Alliance Insurance Plc.
- Royal Exchange Prudential Life
- Royal Exchange Prudential Life
- Unitrust Insurance Nigeria Limited
- Sovereign Trust Insurance Plc.
- STACO Insurance Plc.
- Standard Alliance Insurance Plc.
- Sterling Assurance Nigeria Ltd
- SUNU Assurance Plc.
- UNIC Insurance Plc.
- Universal Insurance Plc.
- Veritas Kapital Assurance Plc.
- Coronation Insurance
- Coronation Life Assurance Lt
- Zenith General Insurance Company Limited
- GOXI Micro insurance
- NOOR Takaful Plc.
- Cornerstone Takaful Insurance Co. Ltd
Conclusion: Through the years, the Insurance coverage trade in Nigeria has been rising from power to power. It’s secure to say that this trade is one with many potentials that will likely be uncovered in time.