Top 10 Best Insurance Companies in Lagos (2024)

Last updated on August 4th, 2023 at 09:23 pm

There are factors in rating the best insurance firms. Lagos is a state in Nigeria with many registered insurance companies offering various services. But which of these are considered the best to start with.


To know a top insurance company, they must be popular among the public, must have a good track record and most of all, must have excellent customer rating.

In no particular order, here is a list of top 10 insurance companies in Lagos and their contact details that are considered to be the best based on clients recommendation;

1. AIICO Insurance Plc

Aiico insurance is a leading player in general Insurance businesses. Many Lagos company see Aiico Plc as the best in the country. This company provides comprehensive insurance covers. They possess unique capabilities and skills to bring insurance as a risk management tool to their clients.

Address: 203-205, Apapa Oshodi Expressway, Oshodi Isolo, Lagos.
Phone numbers: 08023226903, 01-6600715.

2. Leadway Assurance

Leadway Assurance company limited is another best insurance company in Lagos that offers insurance services in both life and pensions and general business. This registered firm is one of Nigeria’s foremost insurance service providers, with a reputation for service efficiency and customer reliability.

Head Office Address: 121/123 Funso Williams Avenue, Iponri, Lagos
Telephone: 01-2700700, 01-2800700

3. Anchor Insurance company

Anchor insurance limited offers building insurance services and are also a provider of general and special risks insurance services in the country. Example is the Ancho auto insurance which is one of their best products.

Address: Block 5A, Ayo Jagun Street, Lekki Phase 1, Ajah, Lagos.
Phone numbers: 08089374025, 08020921594, 01- 8974201, 01-8417820.

4. Custodian

Custodian and Allied Insurance is one of the top insurance companies in Lagos that provides personal and business cover. Based on customer rating, they are very reliable especially if you want health insurance.

Address: 16A, Commercial Avenue, Sabo, Yaba, Lagos
Phone: +234 1 2707206-7, 01-2793740, 01-27937401, 01-2707203

5. Capital Express Assurance

The company is reckoned to be among the fastest growing life assurance companies in the country. They have a robust clientele cutting across various sectors amongst which are Government Agencies and Parastatal, Banking and Investment, Multi-nationals, Military and Para-military, Clubs and Association, Manufacturing, Finance and Regulatory Bodies, Aviation, Pharmaceuticals, Educational Institutions, Hospitality industry, various other corporate organizations in Nigeria, as well as numerous individuals.

6. African Alliance Insurance Company Ltd

African Alliance Insurance Plc was incorporated as a Private Limited Liability Company on March 6th 1960 and was the first Indigenous Insurance to carry out the business of Life Assurance in Nigeria.

Address: 61 Marina Street, Lagos Island.
Phone number: +234 806 630 9476, +234 703 229 4082.

7. Cornerstone Insurance Plc

Cornerstone is a financial and insurance management firm based in Lagos quoted on the Nigerian Stock Exchange in 1997. Cornerstone Insurance Plc, was also the first insurance company in the country to provide customers with an online platform for insurance transactions.

This company has also been licensed and re-certified by the National Insurance Commission (NAICOM) to do both General and Life businesses and the classes of Insurance business which includes: Motor Vehicle, Aviation, Marine, Engineering All Risks, Asset Protection, Liability to Third Party, Oil & Gas, Group Life, Credit Life, Mortgage Protection, Term Assurance, Wealth Creation Products and Takaful (Islamic Insurance).

Address: 21, Water Corporation Drive, Victoria Island, Lagos State
Phone: 08106000800, 01-2806526, 01-2806500, +234-1-2806526

8. FBN Insurance

FBN Insurance is a life insurance business providing coverage for Individual and corporate clients. They have their offices in strategic geographical locations across the country.

With FBN Insurance products, when the unexpected happens you will have peace of mind that comes from managing the risks of everyday life.

Address: 34, Marina, Lagos Island.
Phone numbers: 01-905 4364, 08080479319, 07098123827, 01-905 4365.

9. Mutual Benefit Assurance Plc

Mutual Benefit Assurance Plc is one of the trusted insurance companies in Lagos that cover motor fire/theft, all risk, burglary, fire, individual and group business insurance. With this firm, you are guaranteed the following:

  • Saving to Finance Children Education from Primary to University Level
  • Guaranteed Sum Assured
  • Flexibility in Premium Payment
  • Gradual Fund disbursement at various Levels
  • Bulk Payment on Commencement of NYSC
  • Payment for Higher Degree (Masters, Phd)
  • Payment for Rent and Marriage Ceremony
  • Payment on the Birth of First Child
  • Total Permanent Disability Cover

Address: 233, Ikorodu Road, Ilupeju, Lagos.
Telephone: +234 07045251029, +234 08083333151, 01-555 6957.

10. United Metropolitan Nigeria Life Insurance

Formerly known as UBA Metropolitan Life Insurance, this is a firm that emerged following the successful recapitalization and change of name of erstwhile HEIRS Life Assurance Company Limited. This unique and potentially powerful strategic alliance has a market capitalization in excess of N3 billion.

The company has developed very unique products specifically for the Nigerian market which has improved economic growth and development. With comprehensive risk management skills, the firm ensures that the issues affecting life insurance in Nigeria are managed in a way that protects the interests of policyholders and shareholders alike.

Address: UBA House 57 Marina, Lagos Island, Lagos.
Phone numbers: +234 01 2772520, +234 01 9068800, +234 01 2772523

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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