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Top 10 Insurance Companies In Nigeria 2018/2019

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Top 10 Insurance Companies In Nigeria 2018/2019. Did you know that there are more than enough insurance companies in Nigeria? Yes, that makes it hard to know which ones are the best for you. Here we are going to see a list of the top best insurance companies.

Top 10 Insurance Companies In Nigeria 2018/2019

We all believe that life is good, yes life is good but sometimes it takes its face against each and every one of us isn’t it? What will you do? Learning how to deal with it is the trick.

One of the ways to deal with life is getting help through Insurance companies, as this can also help you cope with life anxiety. But what is insurance?

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What is Insurance?

Insurance is a way of reducing your potential financial loss or hardship. It can help cover the cost of unexpected events such as theft, illness or property and it can even provide families with a financial payment upon someone death.

All you need to do is just to pay a fee called a Premium, and in exchange the insurance company agrees to pay you a certain amount of money if the event you are insuring against is covered and happens during the term of the policy.

We have various insurance companies in Nigeria today but it will be advisable that you know more about the insurance companies before buying insurance.

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Basic Insurance Terms You Should Know

Let’s consider some basic insurance terms that you may encounter as you look into my list of best insurance companies in Nigeria, soon to be listed below.

Agent: Someone who represents one insurance company and sells its insurance products.

Broker: Person or company who sells the insurance products of several different insurance companies

Coverage: Amount of protection you have purchased.

Claim: Official notice you provide to your insurer requesting to be paid for a loss of event covered by your insurance policy.

Insured: Person(s) protected by the insurance policy.

Insurer: Insurance Company that issues the insurance policy

Policy:  Legal contract between you and the insurer

Insurance companies in Nigeria consist of different types of insurance which includes:

  • Life insurance
  • Health insurance
  • Business insurance
  • Property and casualty (General) insurance
  • Auto insurance .

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First, Here is a List Top 10 Insurance Companies in Nigeria

Yes, I promised you a list of 16 insurance companies in Nigeria and you’ll get it, but first, check out the top 10 below.

Talk about Pension, Gratuity or gratitude, these insurance coys have plans for that and all are licensed and certified by the National Insurance Commission.

1. AIICO Insurance Plc

AIICO known as the American International Insurance Company is an Agency Office of American Life insurance that commenced operation in 1963. 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.

It is one of the insurance companies in Nigeria that provides quality products to their customers.

AIICO Head office address: Plot PC 12, Church Gate Street, Victoria Island, Lagos.
AIICO Website:
AIICO Phone: 01 279 2930

APPLY AIICO LATEST JOBS: Financial Advisor Job Vacancy at AIICO Insurance Plc


2. AXA Mansard Insurance Plc

Guaranty Trust Assurance Plc is also rated as one of my best insurance companies in Nigeria. Their foundation is based on trust. Some of the products they offer include Auto insurance which includes; Autoflex plan, Auto Go, Auto Classsic and others. They also have easy care health plan, money market fund, equity income fund, general business and tourism protection, retirement plan inclusive.

Location is at 928A Aboyade Cole Street, Victoria Island, Lagos. You can also visit their website via Phone: 08150490199

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3. Leadway Assurance Company Limited

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

Leadway Assurance products includes;

General insurance, Life and Health Insurance, Savings and Investment Plan, Annuities and Pensions, Premium Finance, Leadway BOSS, Marine Insurance, Surety-ship, Agric Insurance, Motor Insurance, Property Insurance, Marine Insurance and Finally, Accident Insurance. The contact address of lead way assurance

Leadway is located at 121/123 Funso Williams Avenue Iponri, Lagos.
Visit leadway website for more information on
Phone: 01-2700700

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4. Mutual Benefits Assurance Plc

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 & periles, travel e.t.c.

mutual benefit assurance head office address: Aret Adams House, 233 Ikorodu Road,
Ilupeju, Victoria Island Lagos.
Phone: 09054644444, 09054744444

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5. 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.

Cornerstone insurance plc head office address: Water Corporation Drive off
Ligali Ayorinde Street, Victoria Island, Lagos.
Their website: https//
Phone: 0810 6000 800

SEE CONERSTONE INSURANCE PLC JOBS: Graduate Executive Financial Planner at Cornerstone Insurance Plc

6. Industrial and General Insurance Plc (igi)

ndustrial 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.

industrial and general insurance have subsidiaries and below is their contact and office address.

Igi office in Lagos: No 2, Agoro odiyan street, off  Adeola Odeku street
Victoria Island Lagos state.
Please visit their website for more information via

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7. Custodian and Allied Insurance Plc

It is one of the capitalized insurance companies in Nigeria. The company started operation on 13th of August, 1997 and they provide both life and general insurance.

Their insurance products include; auto insurance, health, travel, home shield, personal accident and wealth management

This insurance company ensures their customers have access to an independent dispute resolution system if you need to file a complaint.

Their address is at 16A, commercial Avenue Sabo,Yaba, Lagos.
custodian insurance portal online for more info: http://
Phone: 01 277 4000

8. NEM Insurance Plc

Another insurance company in Nigeria is NEM Insurance Plc. This insurance company commenced operation in 1948 through the agency of Edward Turner and CO.

This insurance company offers general insurance e.g. Travel insurance, fire insurance, motor insurance and many more.

nem insurance Lagos Office address: 199 Ikorodu Rd, Obanikoro Lagos state
and you can also visit their website at

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9. Consolidated Hallmark Insurance Plc

Consolidate Hallmark Insurance is also one of the leading insurance companies in Nigeria. This company offers personal insurance to help protect individuals from potential losses e.g motor insurance, gadget insurance, home insurance, business insurance.

This Nigerian insurance company has highly competent staffs and also has sufficient funds to fulfill the gratuity needs of their employees at the right time

Address: No 266, Moshood Abiola Way, Obanikoro, Lagos state.
you can also visit their website for more information via

10. Prestige Insurance Ltd

Prestige Insurance Ltd was founded in 1988. It is an insurance company in Nigeria that offers insurance and reinsurance. Their services include auto, business, home, life and provision of risks identification management, claim advisory/management and many more.

Their excellent provision of service to customers makes this insurance company to be elected as the insurance broker of the year.

They’re located at 19, Ligali Ayorinde Street Victoria Island, Marina Lagos.
Visit their website for information:

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Conclusion on the Top 10 Insurance companies in Nigeria

That’s all on top 10 best insurance companies in Nigeria and goes without saying that before accepting an insurance company recommended to you by an agent or broker, you need to contact the insurance regulator in your territory to confirm that the insurance company is licensed to do business.

If you’re going to be choosing yourself, be certain about the integrity and reliability of any insurance company and policies involved before you opt in.

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