Top seven (7) Insurance companies in Nigeria

Insurance companies

Insurance companies are companies that provide insurance services to a person or an organization depending on the Policy agreed by both parties.

Insurance is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An insurance company provides coverage

Insurance companies helps to reduce the cost of fixing damages caused by destructive unpredictable events, like theft, fire outbreak, motor vehicle accident, health issues etc. are taken care of by insurance companies.

Factors to Consider When Selecting an Insurance Company

When choosing an insurance company, a lot of factors should be considered.

These Factors to consider are as follows:

  1. Price Factor
  2. Company history/reputation
  3. Ease of doing business
  4. Legal Accreditation
  5. The Company’s Reputation
  6. Financial Strength
  7. Available discounts
  8. Coverage

Here are the top 7 Insurance Companies in Nigeria

1. CORNERSTONE Insurance plc.    

Cornerstone Insurance Plc. was incorporated on 26th July 1991 as a private limited liability company but later grew into a Public Limited Liability, quoted on the Nigerian Stock Exchange in 1997.


Cornerstone Insurance is a leading insurance company in Nigeria that was established to carry out Insurance business in a professional, ethical and customer-focused manner and has stayed committed to these values over the years.

The Company is licensed and re-certified by the National Insurance Commission (NAICOM) to carry out both General and Life businesses insurance.

Policies offered by CORNERSTONE Insurance

  • Home insurance plan
  • Life insurance plan
  • Annuity plan
  • Halal takeful plan
  • School fee guarantee plan
  • Investment plan
  • Goods in transit plan
  • Marine insurance plan
  • Gadget protection plan
  • Motor insurance plan
  • Travel insurance plan

BRANCHES AND OUTLETS

  • ABEOKUTA
  • ILORIN
  • UYO
  • ABUJA
  • IKOTA SHOPPING COMPLEX
  • WARRI
  • APAPA
  • KANO
  • YABAFESTAC
  • LAGOS ISLAND
  • YENOGOA
  • IBADAN
  • PORT HARCOURT
  • IKEJA
  • SULEJA
  • IKORODU

2. Goldlink  Insurance Plc.

Goldlink Insurance Plc. was established on 15th April 1992 as a Private Limited Liability Company and given license to operate as a full-fledged insurance company on 8th September 1993. Goldlink was incorporated with an authorized share capital of N10million with fully paid-up capital of N10million.

Policies offered by Goldlink Insurance

  • Group Life Insurance plan
  • Individual Life Insurance plan
  • Liability Policies plan
  • Marine & Aviation plan
  • Motor Insurance plan
  • Compulsory Insurance plan
  • Engineering Policies plan
  • General Accident planOil & Gas plan
  • Re-Insurance plan
  • School Safety plan

3. Lasaco Assurance Plc.

Lasaco Assurance Plc. was established on 20th of December 1979 under the Companies Decree of 1968. The Company, then known as Lagos State Assurance Company Limited, obtained License as an Insurer on 7th July 1980 and started business operations on 1st of August 1980.

With the massive opportunities presented by increased capitalization for business expansion and growth, LASACO became a Public Liability Company in the year 1991 when its Shares were admitted for the first time to the Nigerian Stock Exchange (NSE) through listing by Introduction.

Policies offered by Lasaco Insurance

  • Householder’s Insurance plan
  • Bond insurance plan
  • Money insurance
  • Motor insurance plan
  • Marine insurance plan
  • Professional indemnity plan
  • Fire and Special insurance plan
  • Aviation insurance plan
  • Personal accident plan

4. LEADWAY Assurance Company.

LEADWAY Assurance Company was established in 1970. LEADWAY offers insurance services in both Life and pension and general businesses.

LEADWAY Assurance Company also known as Leadway, is a Nigerian insurance corporation headquartered in Lagos

At the same time, LEADWAY also offers allied financial services like Bond, Secured Credit, Miscellaneous financial losses and Fund / Portfolio management.

Policies offered by LEAD WAY Assurance Company

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

5. AXA MANSAERD Insurance Company

In 1989, AXA Mansard was incorporated as a private limited liability company and is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM).

The Company renders life and non-life insurance products and services to persons and institutions across Nigeria at the same time offering asset/investment management services, health management services and pension fund administration through its three subsidiaries AXA Mansard Investments Limited, AXA Mansard Health Limited, and AXA Mansard Pensions Limited.

Policies Offered by AXA MANSARD Insurance

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

6.  Industrial and General Insurance Plc

This company (IGI) was first established as a private limited liability company on 31 October 1991 and later re-registered as a public limited liability company in the year 2007. It started a business in January 1992 as a composite insurer to transact the business of Life and General insurance, including Pensions and Special Risks..

Policies offered by Industrial and General Individual Life

  • General Business Insurance plan
  • Health Insurance Plan
  • Marine Insurance plan
  • Oil & Energy Insurance plan
  • Group Life Products plan
  • Aviation Insurance plan
  • Engineering Insurance plan

7. Aiico Insurance Plc.

This company (AIICO) was established in the year 1963. It is an insurance, pensions management, and asset management Group in Nigeria with market-leading positions in its key business lines to Life assurance and annuity, General insurance and special risks, Pension management, Health insurance, and Asset management.

Policies offered by AIICO insurance

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

Here are seven Insurance companies that can be of help to you. The insurance companies are all trusted and can be easily accessed in Nigeria.

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