Today we are going to discuss about the top insurance companies in Nigeria as well as their address and contact details but before we go into the details, let us first understand what the word ”insurance” means.
Insurance is an important service that opens up people’s families and colleagues and creates confidence and peace for future purposes. Life, property, health, goods, enterprises, and so on have been the major forms of insurance. Insurance has been in existence long before the country Nigeria became independent which has been bringing and imparting effective changes.
According to definition, insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
Insurance can also be defined as a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured.
Without wasting much time on introduction, let us go straight to the list of top insurance companies in Nigeria and their address.
Top Insurance Companies in Nigeria and their Address
Below is the list of top insurance companies in Nigeria and their address:
1. AIICO Insurance Plc
Aiico Insurance is one of the well recognised insurance companies in Nigeria and one of the top insurance companies in Nigeria. The company started in 1963 as a pension and asset management group.
In addition, the outfit also focuses on general and special risks, life assurance, annuity and health insurance as well. Currently, AIICO is the 2nd largest insurance company in Nigeria.
Address: Plot PC 12, Churchgate Street, Victoria Island, Lagos.
Phone no: 0700 2442 6682 28
2. Custodian And Allied Insurance Limited
The company is a brand under Custodian Investment Plc. Their offers include, general and life insurance products.
Address: 16A, Commercial Avenue, Sabo, Yaba, Lagos.
Contact: (+234) 12774000-9
3. Consolidated Hallmark
Consolidated Hallmark is one of the top ten general business and special risk companies in Nigeria. The company thrives on integrity and excellent service delivery.
In addition, they provide premium risk management solutions to their clients. Interestingly, the company is the second insurance company to receive ISO 9001:2015 (Quality Management System Certificate).
Address: 266, Ikorodu Road, Obanikoro, Lagos
Contact: 0700-2446-7887-2623, +234 1 2912543, +234 1 2912 532
4. Leadway Assurance Company Limited
Leadway began business in 1970 and is still one of the leading insurance companies in Nigeria.
Over the years, the company is known for giving clients prompt claims settlement and innovative services. Leadway products include personal, SME, and corporate offers.
Address: 121/123 Funso Williams Avenue, Iponri, Surulere, Lagos
Tel: 01-2700 700
Read Also: Top 10 Amazing Business Ideas to Start
5. Industrial And General Insurance (lGI) Plc
IGI started business in January 1992 as a composite insurer offering life and general insurance as well as pensions and special risks. After four years of operation, IGI appeared as the first private insurance company in Nigeria to post N1billion premium income.
In addition, IGI makes use of latest technology in their operation. You can get quotations and make payment directly from their website.
Address: 2, Agoro Odiyan Street, Off Adeola Odeku, Victoria Island, Lagos.
Phone: (01) 2918853, (01) 2918854, (01) 2918827
6. Gold Link Plc
Goldlink was registered on 15th April, 1992 but, got licensed on 8th September, 1993. The company has a head office in Lagos and 16 branches across the country.
Their product ranges from engineering policies to group life, individual life insurance and many more.
Address: 6, Emmanuel Street, Maryland, P.O Box 5987, Marina, Lagos, Nigeria
Contact: 070046535465, 0811792300-5
7. Niger Insurance Plc
Niger is another company in Nigeria involved in various classes of insurance business. Also, the company offers life and non life coverage to its clients.
At Niger, the product offers are flexible because they understand the diverse needs of their clients.
Address: 48/50, Odunlami Street, Lagos Island.
Tel: 08133244981, 08136053520
8. NEM Insurance
NEM Insurance Plc started business in Nigeria in 1948 through the agency of Edward Turner & Co. Their products and services includes corporate, personal and SME products.
Address: 199, Ikorodu Road, Obanikoro, Lagos. P.O Box 654, Lagos
Tel: +234 14489560-7
9. Mutual Benefits Assurance Plc
Mutual Benefits Assurance Plc was incorporated on 18th April 1995 as a private limited liability company but began operation on 2nd October, 1995.
The company offers life and general insurance business.
Address: Aret Adams House, 233, Ikorodu Road, Ilupeju-Lagos. P.O. Box 70986, Victoria Island, Lagos.
Tel: 09054644444, 09054744444
Read Also: Top 10 Personal Finance Rules to Follow
10. Staco Insurance Plc
Staco was incorporated in Nigeria on 10th October, 1991 but was licensed to carry out insurance business on 1st October, 1994. The company also carries out general and special risk insurance. In addition, Staco Plc upholds integrity and hard work in their operations.
Address: 209, Herbert Macaulay Way, Yaba, Lagos.
Tel: +234 806 410 3680, +234 816 0654035
11. Nicon Insurance
Nicon was originally owned by Federal Government of Nigeria. It was established to assist the development of insurance companies in Nigeria and to ensure that the Federal Government’s assets and properties are protected.
However, NICON was privatized in December, 2005. Currently, the company has 40 branches and six regional offices
Address: Ground Floor, NICON Plaza, plot 242, Muhammadu Buhari way, central district, Abuja
Tel: 09087260168, 08055084597
12. Lasaco Assurance Plc
Lasaco was incorporated on 20th December, 1979 but was granted license on 7th July, 1980. The company transacts life and non life insurance.
Address: Plot 16, Acme Road, Ogba, Ikeja, Lagos, Nigeria. P.O. Box 3724
13. Royal Exchange Plc
Royal Exchange began operations in Nigeria in 1918 and was represented by Barclays Bank DCO. Thereafter, in 1921, Royal Exchange converted to a full branch of its then parent company, Royal Exchange Assurance, London.
Their products include Royal money guard, Royal Burglary protection, Royal fire protection, Royal transit plan and many more.
Address: New Africa House, 31 Marina, Lagos.
14. Guinea Insurance Plc
The company is also a well sought after company in Nigeria. They began operation on December 3rd, 1958. Their product covers general accident, engineering and special risk.
Address: 33, Ikorodu Road, Jibowu, Lagos.
Tel: 01-4622050-2, 018446470, 07098212408
Read Also: 8 Best Ways to Save Money at Home
15. Anchor Insurance Plc
Anchor is a non-life insurance outfit registered and licensed in October, 1989, but started full operation in November, 1989.
Currently, Anchor has expanded to 19 branch offices across the country.
Registered Office: 7/13, Aka Road, Uyo, Akwa Ibom State
16. Wapic Insurance Plc
Wapic provides general and life insurance policies at competitive rates for both individual and corporate clients.
They started in 1958 and got licensed to carry out different classes of insurance including fire and special perils.
Address: 119 Awolowo Road, Ikoyi, Lagos, Nigeria.
Tel: 012774500, 0700342592742
17. Great Nigeria Insurance Plc
GNI has over 55years experience in underwriting, financial advisory and real estate investments. Also, GNI Plc employs state of the art information technology in its operation.
Product offers include: group life assurance, fire and special peril, workmen compensation and many others.
Regional Office: 8, Omo Osagie Street, off Awolowo Road, Ikoyi, Lagos.
Tel: +234 8142478829, +234 8052601713, +234 8023229210
18. Zenith General Insurance Company Limited
Zenith is another leading insurance institution in Nigeria. Their product ranges from corporate to personal and travel insurance.
Zenith is committed to giving peace of mind and creating values to people in a world of uncertainties.
Address: 13/14th floor, Civic Towers, Ozumba Mbadiwe Avenue, Eti-Osa, Lagos.
Tel: (+234) 0127811771, (+234) 012783421, (+234) 01 2783411
19. Sterling Assurance Plc
Sterling Assurance Plc was established in 1990 and offers all classes of general coverage. Importantly, their products are backed up by highly profiled reinsurance organisation like General Insurance Corporation of India (GIC), Africa Re, Continental Re, etc.
Also, the company’s product includes: Fire and Special Perils, Burglary and House, Motor, Money Insurance and many more.
Address: 284, Ikorodu Road, Anthony, Lagos, Nigeria
Tel: 08150643531-2, 08178000222, 08178000333, 08178000444
20. Law Union And Rock
Law Union and Rock pride in their experienced underwriters and automated processes.
Another thing that sets them apart is their partnership with re-insurers who give them the assurance they need to underwrite risks.
Address: Law Union House, 14, Hughes Avenue, Yaba, 1000001, Lagos, Nigeria
21. FBN Insurance Ltd
A company licensed to transact general insurance business in Nigeria. They are also one of the top insurance companies in Nigeria.
The company is jointly owned by FBN Holdings Plc and the Sanlam Group. They provide coverage for both individuals and corporates alike.
Head Office: 298, Ikorodu Road, Anthony b/stop, Lagos, Nigeria.
Tel: +234 1 9054810
22. Standard Alliance Insurance Company Limited
Standard Alliance is licensed by the National Insurance Commission (NAICON) to transact general and special risk business.
The company got registered as a private limited liability company in July, 1981 under the name Jubilee Insurance Company Ltd.
Their product covers, aviation, bonds, goods in transit and machinery breakdown as well.
Address: Plot 1, block 94, Providence Street, Lekki Scheme 1, Lekki-Epe Expressway, Lagos.
Tel: 09055694301, 0700-6678-72623
Read Also: Definition and Types of Financial Statements
Is your own insurance company among the top insurance companies in Nigeria but is missing among the list above and you wish to add it? Send us an email at [email protected] and we will update our top insurance companies in Nigeria list to add yours.