Top 10 Best Insurance Companies in Nigeria (2024)

These are the best insurance companies in Nigeria with track record that offer top insurance services that can be trusted and is dully registered with good customer reviews.

There are top insurance agencies in Nigeria that help people hoping to make sure about their future from some certain risks and disaster. A good number of these companies offer varied insurance services. Nonetheless, if you are hoping on to get one of these best insurance companies, you need to understand what you are searching for so as to pick the correct one. To do that, there are components to mull over prior to choosing an insurance agency. These elements are important to try not to be influenced to the other way. This article will highlight the top ten best insurance companies in Nigeria this 2024.

There many insurance companies existing in Nigeria but when it comes to picking the right insurance company to secure a policy from, certain things like reliability, integrity, and quick response of the insurance firm must be considered. The company must be well known by the masses, having a good track record and also having good testimonial from people insured with them.

The insurance companies listed below in this article, have been considered the top 10 registered insurance companies in the Nigeria with good track record based on customers opinion that you can start off with.

TOP 10 INSURANCE COMPANIES IN NIGERIA (2024)

Below is the rundown of the top ten most poluar insurance companies that are available in the country:

LEAD WAY ASSURANCE

Leadway Assurance is a top-rated insurance company that offers insurance services in both Life and Pensions. The insurance company was established in 1970, and they offers insurance plans in General business insurance and Life and Pensions. The Company additionally offers partnered monetary services, for example, Secured Credit, Bond, Miscellaneous monetary misfortunes and Portfolio management.

Leadway offer the following policies:

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

To depict Leadway Assurance’s versatility, they are dynamic on the web, across different web-based media channels and have computerized the majority of their tasks to help adequacy.

PRESTIGE INSURANCE LTD

Founded in 1988, Prestige Insurance Ltd is a prominent name in the Nigerian insurance industry. This is an insurance company that offers insurance and reinsurance services. These services include claim advisory/management, auto, business, home, life and provision of risks identification management and many more. Prestige Insurance Ltd was elected as a top insurance broker, which is due to their excellent provision of service to customers.

This insurance company is located at 19, Ligali Ayorinde Street Victoria Island, Marina, Lagos.

GOLDLINK INSURANCE PLC

Goldlink Insurance Plc is an insurance agency that was incorporated as a Private Limited Liability Company on March 15, 1992, It later changed over to a Public Liability Company on March 11, 2007, and was recorded on the NSE by a presentation on March 12 2008. The insurance approaches they offer include:

• Engineering Insurance
• General Accident plan
• Individual Life Insurance plan
• Reinsurance plan
• Compulsory Insurance plan
• Oil & Gas plan
• Marine & Aviation plan
• Motor Insurance plan
• Liability Policies plan
• Group Life Insurance plan
• School Safety plan

Moreover, Goldlink Insurance Plc is authorized to do both Life and General Businesses. These incorporate plans in areas like: Motor Insurance, Fire and Special Perils, Oil and Gas, Life and Pension, and Travel Insurance.

MUTUAL BENEFITS ASSURANCE

Mutual Benefits Assurance PLC is a notable insurance company in the country. The insurance agency has developed into a conglomerate which comprises of worth adding organizations with varied interests in different areas of the Nigerian economy through ventures, and other areas. Moreover, the company offers insurance strategy services, for example:

• General Insurance
• Life insurance
• Fire and Burglary insurance
• Personal Accident

Presently, with more than 3,000 staff and marketing executives in its business, Mutual Benefits Insurance is a main brand in the country’s Insurance industry.

CORNERSTONE INSURANCE PLC

Cornerstone Insurance PLC was consolidated on 26th March 1991 as a private restricted insurance organization and turned into a Public Limited Liability, by being listed on the Nigerian Stock Exchange in 1997. The Company is authorized by the National Insurance Commission (NAICOM) to do both General and Life organizations. Classes of their insurance include:

• Motor Vehicle,
• Aviation,
• Marine,
• Engineering All Risks,
• Asset Protection.

The complete resources of the organization are in excess of N24.1 billion which makes them perhaps one of the most profit-based insurance agencies in Nigeria.

AFRICAN ALLIANCE INSURANCE PLC

One of the best insurance companies in Nigeria is African Alliance Insurance PLC. This Insurance company is broadly regarded as the most experienced and most grounded Specialist Life Assurance Office in Nigeria. The organization serves a huge number of clients with customized protection products custom-made for each phase of their lives. They offer assortments of protection and monetary products like:

• Annuity Plans
• Kids Education Plan
• Mortgage Protection Plan

On the whole, African Alliance Insurance Plc at present deals with a Shareholders’ Fund assessed at N3.6bn.

ACEN INSURANCE COMPANY

This is a composite insurer: issuing life and non-life policies. They have good track record and are cosidered one of the best in the country

ADIC INSURANCE

This company insures personal, Car, Home and Life Insurance in Nigeria.

AIICO INSURANCE PLC

Aiico has been rated the most popular Nigerian insurance company. It has also become the largest Life Insurer in Nigeria and a major player in General Insurance business. The company’s success has been the result of its ability to evaluate its potentials, set realistic goals and take necessary actions to achieve them. Strategies may change, objectives and organizational structures of the company can be reviewed from time to time, the end result is to ensure Optimum Performance.

Set up in 1963 as an independent insurance agency, AIICO Insurance Plc is a protection, annuities the board, and resource the executives Group . It is of the top insurance agencies in the nation, with its critical spotlight on: general insurance and special risk, Life insurance and annuity, Health insurance, Asset management, and Pension management.

This insurance company offer the following policies:

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

AXA MANSARD INSURANCE

AXA Mansard is an affiliated company from the AXA Group. The latter is a top part in insurance just as resource the board. The group of companies serves 107 million customers in more than 60 countries in the world.

AXA Mansard Insurance offer the accompanying policies:

• Life savings plan
• Instant plan
• Health plan
• Retirement savings plan
• General ( business/ tourism) protection plan
• Student protection plan
• Autoflex plan
• Equity income plan
• Auto classic plan
• Money market plan
• Easy care plan

The Company gives life insurance just as on-disaster protection answers for people and associations in the country.

A&G INSURANCE

A&G Insurance has combine 20 years experience and safety of an underwriting company with the efficiency and innovation of the next generation risks and financial solutions provider.

CONSOLIDATED HALLMARK INSURANCE

Consolidated Hallmark Insurance Plc is a high-profile, technology-driven and customer oriented company conceived by its stakeholders to be among the first five risk underwriters in Nigeria within a very short period of time.

CONTINENTAL REINSURANCE

Continental was registered in 1985 as a professional reinsurance company under the Companies Act 1968 and obtained license to transact Non-Life Reinsurance business on March 10, 1986. It commenced business in December, 1987. Life Reassurance business was commenced in March 1990, the requisite license having been obtained in March 1989. In 1999, Continental Re was converted to a Public Limited Company (PLC).

CORNERSTONE INSURANCE PLC

Cornerstone is a dynamic insurance company, offering services in line with modern realities. The Company was at inception registered to undertake some classes of Insurance business.

CRUSADER INSURANCE PLC

Crusader insurance (Nigeria) Plc is a highly reputable company renowned for its efficient service delivery and prompt claims settlement. It has a national network of branches and full computerization and a crop of experienced and highly competent professional staff back up its operations.

CUSTODIAN AND ALLIED INSURANCE

Custodian and Allied insurance agency give a wide scope of insurance intends to browse. Rated among the best 10 insurance companies in Nigeria, Custodian Insurance company stands out among the competition. Each plan is custom-made to the necessities of their customers. Moreover, Custodian and Allied insurance company offer the accompanying strategies:

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

While there are other insurance firms like Lead way Inusrance, Mansard, NIICO, Standard Insurance e.t.c that you can start off with, these ones listed above stand out from the rest.

NEM INSURANCE PLC

NEM insurance company is another in the list of the top insurance company in Nigeria. This insurance company started operation in 1948 through the agency of Edward Turner and CO. They offers general insurance e.g. Travel insurance, fire insurance, motor insurance and many more.

NEM insurance can be located at their Lagos Office address: 199 Ikorodu Rd, Obanikoro, Lagos state.

CONCLUSION

Nigeria has a lot of insurance companies that has been operating to service their clients. With this great number of the organizations, looking for the best option might be quite hard.  This article highlighted the top ten of the insurance companies that are in the country.