According to the Oxford definition of insurance, “Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium while Insurance Company is a company that provides and sell insurance.”Information Guide Nigeria
Over the years, insurance companies have emerged in Nigeria to provide different insurance services to Nigerians, such as Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance, etc.
Here is the list of 15 top insurance companies in Nigeria and locations:
1. AIICO Insurance PLC
AIICO Insurance PLC is a financial services institution which was established in 1963. It was formerly known as American Life Insurance Company (ALICO) but was renamed American International Company Limited (AIICO) when the Federal Government of Nigeria acquired 60% stake in the company and was listed on the Nigeria Stock Market in 1990. The current chairman of the company is Kundan Sainani while Babatunde Fejemirokun is the MD/CEO.
AIICO Insurance PLC corporate office is located at Plot PC 12, Churchgate Street, Victoria Island, Lagos, Nigeria.
2. Leadway Assurance Company Limited.
This company was founded in 1970 by Sir Olusola Hassan-Odukale and since then, it has been one of Nigeria’s foremost insurance service providers with over 24 branches in Nigeria and its corporate office located at 121/123 Funsho Williams Avenue, Iponri Surulere, Lagos State.INSURANCE COMPANIES IN NIGERIA
The current chairman of Leadway is Mr. Tunde Hassan-Odukale who took over from his stepbrother, Mr. Oye Hassan-Odukale on January 1, 2020.
3. Custodian And Allied Insurance Limited.
This insurance company is a subsidiary of Custodian Investment PLC. It’s a registered member of Nigerian Insurers Association (NIA) and it was approved by other regulatory services to offer insurance services. The company’s chairman is Mr. Johnnie Wilcox and the MD is Edeki Isujeh.
The company’s corporate address is 16A, Commercial Avenue, Sabo, Yaba, Lagos.
4. Cornerstone Insurance PLC.
Cornerstone Insurance PLC was incorporated on 26th July 1991 to operate as a private limited liability company, it became a Public Limited Liability and was quoted on the Nigeria Stock Market in 1997.HOW TO ADD FONTS TO MEDIBANG
Ganiyu Musa is the current MD/CEO of the company and also doubles as the chairman of Nigeria Insurers Association (NIA).
Cornerstone Insurance PLC Head Office is at 21, Water Corporation Drive, Off Ligali Ayorinde Street, Victoria Island, Lagos, Nigeria, with different branches and outlets across the country.
5. AXA Mansard Insurance PLC
AXA Mansard Insurance PLC is a subsidiary of the AXA group, with 166 employees in Nigeria and 153,000 employees around the world, with 105 million clients in 54 countries. AXA is present in Europe, Asia, Africa, Middle East, Central, South, and North America. AXA is not an acronym but was chosen because it is short and can be pronounced easily the same way in every language. The firm was incorporated in 1989 as a private limited liability company.
Its head office is at SANTA CLARA COURT, PLOT 1412 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS.10 Ways to Get Rid of Unwanted Odours
6. African Alliance Insurance PLC.
This insurance company was incorporated on May 6, 1960, by its founders Chief S.L. Edu (CON), Mr T. A. Braithwaite (CON), and Chief M.E.R. Okorodudu. As of today, African Alliance Insurance PLC operate a network of 18 branch offices across Nigeria, with its head office at 54 Awolowo Way, Ikoyi, Lagos.Npower recruitment
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7. LASACO Assurance Plc
This company commenced full operation on 1st August 1980 after being incorporated on 20th December, 1979 and licensed as an insurer on 7th July, 1980. It became a Public Liability Company in 1991 after being listed on the Nigeria Stock Exchange.Pounds to Naira
They can be contacted at LASACO House, Plot 16 Acme Road, Ogba, Ikeja, Lagos, Nigeria.
8. Anchor Insurance Company Limited.
This insurance company commenced operation in November, 1989 after being registered in June of the same year and licensed by the National Insurance Commission (NAICOM) as a general business (non-life) insurance outfit.
Anchor Insurance won the Insurance Company of the Year 2019 by Daily Independent Newspapers after earlier being decorated as the Fastest Growing Insurance Company of the Year award. The company is a member of international, regional, and local insurance organizations such as African Insurance Organization (AIO), West African Insurance Association (WAICA), and Nigerian Insurers Association (NIA).
Its corporate head office is at Plot 21, Ahmed Onibudo Street, Victoria Island, Lagos, Nigeria.
9. GoldLink Insurance PLC.
This insurance company was granted license to operate on 8th September, 1993 after being incorporated as a Private Limited Liability Company on 15th April, 1992. GoldLink was listed on the Nigeria Stock Exchange on 12th February, 2008 after conversion to a Public Liability Company on May 11th, 2007.
Goldlink has its head office at 6, Emmanuel Street, Maryland, Lagos State with 16 branches across the country.
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10. Continental Reinsurance PLC.
This insurance company was incorporated in 1985 and commenced business as a private reinsurance company. They converted to a Public Liability Company in 2000 and on May 30, 2007, was listed on the Nigeria Stock Exchange.
Continental Reinsurance Head Office is at Continental Re Centre, 17 Olosa Street, Victoria Island, Lagos P.O. Box 2401, Lagos, Nigeria.dollar to naira rate
11. FBN Insurance Ltd
FBN Insurance officially started operations on the 1st of September 2010, making it the youngest start-up insurer in Nigeria with offices in different strategic locations across the country. Despite being the youngest, FBN Insurance has won several awards such as Fastest Growing Insurance Company in Nigeria, Best Life Insurance Company in Nigeria, etc. Its chairman is Adenrele Kehinde while its MD/CEO is Val Ojumah.WAEC result
Its head office is located at 34 Marina Street, Old Nipost Building, Marina, Lagos.
12. NEM Insurance PLC
NEM INSURANCE PLC commenced its insurance business in Nigeria in 1948 making it one of the oldest insurance companies in Nigeria. It was incorporated in 1970 and was listed on the Nigeria Stock Exchange in 1989 following its Privatization by the Nigerian government.
NEM Insurance corporate office is at 199, Ikorodu Road, Obanikoro, Lagos, Nigeria.
13. Mutual Benefits Assurance PLC
The company was incorporated on the 18th April, 1995 and since then the company has been one of the leading insurance companies providing insurance services to Nigerians. Its chairman is Dr. Akin Ogunbiyi.JAMB form
Its head office is at Aret Adams House, 233 Ikorodu Rd, Ilupeju 100252, Lagos.
14. Niger Insurance PLC
This insurance company was established in August, 1962 and since then, it has been one of the leading insurance companies in Nigeria that transact all classes of insurance businesses. Its head office is at 48/50, Odunlami Street, Marina, Lagos.JAMB Result
Its chairman is Dr. Stephen Dike and its MD/CEO is Edwin F. Igbiti.
15. Consolidated Hallmark Insurance PLC.
It was incorporated on 8th February, 1991. Following a merger in 2007, Consolidated Hallmark Insurance Plc emerged as one of the top ten General Business and Special Risk Insurance underwriters in Nigeria. Its head office is Plot 33D Bishop Aboyade Cole S Victoria Island Lagos Nigeria.
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