Top 10 insurance companies in Nigeria

Accidents can happen at any time and it can be in different forms. It may be a car accident, or you may lose your home or working place in a fire incident and you don’t know where to start from. These unforeseen circumstances can create a huge problem in the life of its victims. Or worst, it can lead to depression. Especially, if there is no money to start all over. However, it does not have to be so, that is if you have a good insurance company. An insurance company helps in reducing the cost of fixing damages caused by these unforeseen circumstances. So, if you are searching for the best insurance company, this list will make your work easier.

AIICO Insurance Plc

AIICO stands for American International Insurance Company. It is an Agency Office of American Life insurance and it was established in 1963. They help in providing life assurance and annuity, general insurance, health insurance, pension management, property insurance, E-insurance, Education plan, Mortgage protection plans, Term assurance and so on.

AXA Mansard Insurance Plc

AXA Mansard was incorporated in 1989 as a private limited liability company. It is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). Located in 64 countries with 166,000 employees, it is definitely one of the largest in the world. They offer products like Auto insurance which includes; Autoflex plan, Auto Go, Auto Classic and others.

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Leadway Assurance Company Limited

Leadway was founded by sir (Dr) Hassan Olusola Odukale in 1970. Generally, the company offers both Life and Pensions and General business insurance services. Furthermore, Leadway also offers allied financial services like Bond, Secured Credit, Miscellaneous financial losses and Fund / Portfolio management.

Mutual Benefits Assurance Plc

Mutual benefits assurance sits on the number 4 spot. It started operation on 18th April 1995 and offers products like pure life insurance, investment-linked schemes like children education plans and pure investment. Also, it provides insurance for motor, marine, fire, travel e.t.c.

Cornerstone insurance plc

Cornerstone insurance plc was incorporated as a private liability company on the 26th of July 1991. Afterward, it became a public liability company and was quoted on the Nigerian Stock Exchange in 1997. The company products include Motor insurance, Travel insurance, Home insurance, Life insurance, Annuity, Goods in transit, Combined fire and burglary, Marine Insurance, Mymoto shield, Gadget Inspector Plan, Drone Insurance.

Custodian and Allied Insurance Plc

The company started operation on 13th of August, 1997 with the purpose of providing both life and general insurance to its customers. For the most part, their insurance products include; auto insurance, health, travel, home shield, personal accident and wealth management.

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NEM Insurance Plc

NEM Insurance Plc commenced operation in 1948 through the agency of Edward Turner and CO. This insurance company offers travel insurance, fire insurance, motor insurance and many more.

Industrial and General Insurance Plc (igi)

Industrial And General Insurance Plc (IGI) started off as a private limited liability company on 31 October 1991. Then, it was later re-registered as a public limited liability company in 2007. Their services include; Motor Insurance, Life products, Engineering/contractor risk, Marine, Travel and Health insurance, Fire Insurance, Aviation, Oil and energy.

Consolidated Hallmark Insurance Plc

Consolidated Hallmark Insurance offers personal insurance to help protect people from unforeseen losses e.g motor insurance, gadget insurance, home insurance, business insurance. In addition, the company has competent staffs with sufficient funds to fulfill the needs of their employees and customers.

African Alliance Insurance Plc

African Alliance Insurance plc was founded by Chief S.L. Edu (CON), Mr. T. A. Braithwaite (CON) and Chief M.E.R. Okorodudu. Backed by world-class reinsurers and co-shareholders, Munich Reinsurance Company, the company was officially incorporated on May 6, 1960. Alliance Insurance Plc is widely known for their efficiency and trustworthiness. The company provides Life Assurance, serving thousands of customers as well as keeping them happy

Author: BF

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