Top 10 Best Insurance Companies In Nigeria

More people are beginning to realize the importance of having insurance funds for them. As a result, many insurance companies are now being established in Nigeria. So, if one wants to sign up for an insurance policy, which companies can he sign up with? We have various insurance companies in Nigeria today but it will be advisable that you know more about the insurance companies before buying insurance. This article contains everything you should know about the best insurance companies in Nigeria.

An insurance company is a business that provides coverage,it can be in the form of compensation,as a result of loss, damages, injury, treatment or hardship etc in exchange for payments. The insurance company calculates the risk and then determines the amount of pay equivalent to the loss of their client. So, what are the top 10 best insurance companies in Nigeria today? Find out below.

Best Insurance Companies In Nigeria Today

let us look at the best insurance firms you can find in Nigeria today.

1. Aiico Insurance Plc

The full meaning is American International Insurance Company. They are the best among the insurance companies in Nigeria. Their aim is to offer life assurance and annuity, general insurance, health insurance, pension management, property insurance, E-insurance, Education plan, Mortgage protection plans, Term assurance and so on. This company provides comprehensive insurance services, and they are the largest insurance corporation operating in the country today.

2. Crusader Insurance

Crusader insurance (Nigeria) Plc is  renowned for its efficient service delivery and prompt claims settlement. It also has a national network of branches and full computerization and a crop of experienced and highly competent professional staff back up its operations.
It is also rated amongst the top 10 insurance companies in Nigeria.

3. NAICOM Insurance

This company is also amongst the best insurance companies in Nigeria.  They seem to have an outstanding understanding of modern insurance operations, which is one of the factors that make them the leader among other insurance companies operating in the country today.  They have been operating since 1988 and have several branches spread across the country.

4. Custodian & Allied Insurance PLC

They are also among the best insurance companies in Nigeria.  They have been in the insurance sector for a very long time and have branches spread across the country. Their unique services win them the 4th position among the best insurance companies operating in Nigeria.

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5. Leadway Assurance Company

In 1970, an insurance company which also provides integrated insurance and financial services to customers was founded by sir (Dr) Hassan Olusola Odukale. Leadway started operation in 1971. Leadway assurance management team are simply the best in the industry.

6. Lasaco Assurance PLC

It is one of the biggest players in the Nigerian insurance sector. They have been operating in the insurance sector for more than 20 years now and have made a big name for themselves as one of the best insurance companies in Nigeria. Experience and consistent quality of customer service delivery have won them lots of clients in Nigeria.

Also See: Requirements For PENCOM Compliance Certificate In Nigeria

7. Mutual Benefits Assurance PLV

Another insurance company that started operation on 18th April 1995 is Mutual Benefits Assurance Plc. Mutual benefits life assurance products includes pure lifew insurance, investment linked schemes like children education plans and pure investment. Others insurance products of mutual benefits assurance plc includes motor, marine, fire & perils, travel e.t.c.

8. Oasis Insurance Plc

This company has a capital base of N3 billion. This goes a long way to show that they have what it takes to provide their clients with top class insurance services. The series of exquisite insurance packages they offer has won them the 7th slot among the best insurance companies in Nigeria.

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9. Cornerstone Insurance PLC

Cornerstone insurance plc was incorporated on 26th July 1991 with registration number RC163170. The company is licensed and re-certified by the National Insurance Commission (NAICOM) to offer both general and life insurance. Cornerstone insurance plc management team is another one that we can boast of with excellent service delivery. This insurance company in Nigeria has received many award based on the level of professionalism. Cornerstone insurance plc 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.

10 . Industrial and General Insurance Plc (igi)

Industrial and General insurance company was first incorporated as a private limited liability insurance company in Nigeria, on 31st October 1991 and in 2007. It was later re-registered as a public limited liability. It started operating as a composite insurance company i.e life insurance and general which includes pensions, special risks in January 1992. Products include; Motor Insurance, Life products, Engineering/contractor risk, Marine, Travel and Health insurance, Fire Insurance, Aviation, Oil and energy and so on.

Which of these Insurance companies have you related with? Can you share your experience with insurance companies with us below? Let’s hear from you here.

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