• Business - Companies
  • Updated: June 09, 2022

Top Five Insurance Companies In Nigeria

Top Five Insurance Companies In Nigeria

According to Wikipedia, Insurance is a means of protection from financial loss, a form of risk management primarily used to hedge against the risk of a contingent loss, while an entity that provides insurance is known as an insurance company or an underwriter.

Insurance is a very crucial service that helps to protect oneself against unexpected events.

To be protected against potential risks or you are on the lookout for an insurance policy, below is a list of the top five insurance companies in Nigeria that offer a variety of insurance plans.

AIICO Insurance

AIICO Insurance is an insurance, pension management, and asset management group in Nigeria which was established in 1963.

AIICO Insurance serves corporations, financial institutions, governments, and individuals in Nigeria as they focus mainly on special risks, general insurance, pension management, asset management, and life assurance.

As an underwriter, the company’s goal is to be the insurer of choice and the leading insurance company in Nigeria

LASACO Assurance

Lasaco Assurance is one of the oldest insurance companies in Nigeria as it was incorporated in 1979.

Since its establishment, it has proven itself to be of high reliability and quality.

It specialises in all forms and types of insurance such as householder’s insurance, motor, burglary, marine, aviation, professional indemnity, personal accident and life insurance.

Cornerstone Insurance

Cornerstone Insurance Plc is a private limited liability company that was incorporated in 1991.

It undertakes insurance policies such as liability to the third party, oil and gas, group life, credit life, mortgage protection, term assurance, wealth creation products, aviation, motor vehicle, marine, engineering risk, asset protection and takaful (Islamic Insurance).

Cornerstone insurance is also the first insurance company to provide customers with an online platform for insurance transactions.

Leadway Assurance

Leadway Assurance is one of Nigeria’s foremost insurance service companies. It was established in 1970.

It offers insurance plans such as family benefit plan, leadway saving plan, deterred annuity plan, educational saving plan, money policy plans, and term assurance plan.

Leadway Assurance has a reputation for service efficiency and customer liability which makes it one of the best insurance companies in Nigeria.

AXA Mansard Insurance

AXA Mansard Insurance is a member of AXA Group which was incorporated in 1989 as a private limited liability company.

It offers both life and non-life insurance products and services that specialise in asset/investment management services, pension fund administration and health management funds.

The company was also rated B+ for Financial Strength by A.M. in 2016.

AXA Mansard Insurance has a 24-hour qualified and dedicated Customer Interface team that attends to customers’ enquiries and complaints. 

Conclusively, for the purpose of unforeseen occurrences, it is important to sign up for an insurance contract.

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