Top 5 Insurance Companies in Nigeria [2019 Update]

Insurance

Top 5 Insurance Companies in Nigeria [2019 Update]

I was recently searching for the number #1 insurance company in Nigeria, and I came across this detailed list from GetInsurance.  I hope you find it educative.

Top 5 insurance companies in Nigeria

1. Lead Way Assurance company

LEADWAY offers insurance services in both Life and Pensions and General business.

Founded in 1970, LEADWAY also gives allied financial services like Bond, Secured Credit, Miscellaneous financial losses and Fund / Portfolio management; reinsurance back up from Swiss Re, Munich Re, Africa Re, and Continental Re.

It also offers simple and bureaucracy-free claim processing from all their branch offices in Nigeria.

They have an active social media presence and a highly Computerized operation that enhances efficiency.

The insurance policies they offer include:

  • Lead Way saving plan
  • Family Benefit plan
  • Personal saving plan
  • Educational saving plan
  • Term assurance plan
  • Deferred annuity plan
  • Money policy plan.

2. Custodian and Allied Insurance

Custodian & Allied Insurance’s purpose is to develop, package and deliver innovative insurance products that best satisfy customer needs, whilst operating a highly profitable, efficient, resourceful and ethical organization that will survive well into the future and be a valuable asset to its shareholders. They have several insurance plans to choose from.

The insurance policies they offer include:

  • Investment plus plan
  • Immediate annuity plan
  • Tuition protection plan
  • Auto insurance plan
  • Travel insurance plan
  • Capital plan

3. Aiico Insurance Plc

AIICO Insurance Plc was established in 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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The insurance policies they offer include:

  • corporate saving plan
  • Income investment plan
  • Education investment plan
  • Three payment plan
  • Electronics equipment policy plan
  • Term assurance plan
  • Travel insurance plan
  • Flexible endowment plan

4.  Cornerstone Insurance Plc

Cornerstone Insurance Plc. was incorporated on 26th July 1991 as a private limited liability company and became a Public Limited Liability, quoted on the Nigerian Stock Exchange in 1997.

The organization conducted Insurance business in a professional, ethical and customer-focused manner and has remained committed to these values over the years.

It is licensed and re-certified by the National Insurance Commission (NAICOM) to do both General and Life business insurance.

The insurance policies they offer include:

  • Motor insurance plan
  • Travel insurance plan
  • Halal Takaful plan
  • School fee guarantee plan
  • Investment plan
  • Home insurance plan
  • Life insurance plan
  • Annuity plan
  • Goods in transit plan
  • Marine insurance plan
  • Gadget protection plan

5. AXA Mansard Insurance Company

AXA Mansard is a member of the AXA Group, the worldwide leader in insurance and asset management with 166,000 employees serving 107 million clients in 64 countries.

The group is a conglomerate of independently run businesses, operated according to the laws and regulations of many countries.

The Company offers life and non-life insurance products and services to individuals and institutions across Nigeria.

It also offers 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.

The insurance policies they offer include:

  • Autoflex plan
  • Easy care plan
  • Auto classic plan
  • Money market plan
  • Equity income plan
  • Life savings plan
  • General ( business/ tourism) protection plan
  • Student protection plan
  • Instant plan
  • Health plan
  • Retirement savings plan
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Disclaimer: I work as a sales agent and investment adviser at Custodian Investment PLC. Nevertheless, the company is doing a great job and that’s why they deserve to be on the list. 

If you need any advise as regards insurance, I’m just a call away 👉 +234 810 0909.

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