Which insurance company is the best in Nigeria

The life we live is full of uncertainties and unexpected events, Our life it self, our families, businesses and properties are exposed to many unseen dangers. In an attempt to protect us against these dangers, financial sector introduced Insurance

There are many Insurance companies in Nigeria that helps people who want to protect their lives and properties against unforeseen circumstances. However, some of these insurance companies renders special kind of services to their clients. This implies that the services you want for yourself will determine the type insurance company to sign up for. So it is advisable to always make a research to know the particular insurance company that renders the kind of service you are looking for.

In this article, we will list the top ten (10) best insurance companies in Nigeria and the type of services they offers. As we usually say in my mytmoro.com, our reviews are unbiased, this article is not influenced or sponsored by these insurance companies.

Our reviews are based on:

  • Our practice experience with these companies.
  • The company’s image(the track records of the company base on popular news and government accreditation).
  • The financial strength and price factor of the company
  • Certified and Legal accreditation by the government.

The above above listed factors are what you should consider when searching for insurance an company to sign up for. It is also advisable to go through stock ratings and business recourses to get more information about a particular company that you want to sign up for. This will give you full confidence of what you are about to go into.

Top 10 best Insurance Companies in Nigeria

mytmoro image
  • Lead Way Insurance company
  • Custodian and allied Insurance
  • Cornerstone Insurance plc
  • AXA Mansard Insurance
  • African Alliance Insurance plc
  • Goldlink Insurance plc
  • Continental Insurance
  • Industrial and General Insurance
  • Lasaco Assurance plc

Top Insurance Companies in Nigeria and the Policies they Offer

S/NInsurance companyPolicies/Services offers
1 AIICO Insurance plc

AIICO Insurance have been providing
a reliable policies to its customers since
1963 to help them live their life with confidence
and peace of mind.

1. Travel Insurance

2. Education Investment

3. Income Investment

4. Three payment plan

5. Corporate savings

6. Flexible endowment

7. Term Insurance plan

8. Electronic equipment policies.
2Lead Way Insurance

Leadway have been an insurance provider of choice
since 1970 with integrity, customer focus, openness,
respect for it policy holders, and excellence of service.



1. Family benefit plan

2. Lead way savings plan

3. Term Insurance plan

4. Money policy plan

5. Educational savings plan

6. Personal savings plan

7. Deferred Annuity plan
3Custodian and Allied Insurance

Custodian is a leading investment group in Nigeria.
They have been the Nigeria preferred partner in
creating and preserving wealth. Currently, the
company’s asset is worth $1.1billion as at 2021.
1. Investment plus plan

2. Immediate Annuity plan

3. Tuition protection plan

4. Auto Insurance plan

5. Travel Insurance

6. Capital Insurance
4Cornerstone Insurance plc

The company is licensed and recertified by National
Insurance Commission(NAICOM) to do both
life, business and general Insurance. They are the
first insurance company in Nigeria to provide
customers with an online platform for
Insurance transactions. Nigeria Tech Award in
2016 awarded the company as the
Best use of technology Insurance company.
1. Motor Insurance plan

2. Investment plan

3. Gadget protection plan

4. Halal Takaful

5. School fees guarantee plan

6. Goods in Transit protection plan

7. Home insurance

8. Life Insurance

9. Annuity plan

10. Travel Insurance

11. Marine Insurance
5AXA Mansard Insurance

AXA Mansard is a member of AXA Group of companies.
They are one of the world leading asset and investment
insurance companies, serving over 107 million customers
in 67 countries.
1. Student protection plan

2. Autoflex plan

3. Equity income plan

4. Auto classic plan

5. Money market plan

6. Easy care plan

7. Life savings plan

8. Instant plan

9. Health plan

10. Retirement savings plan

11. Business protection plan

12. Tourism protection plan

13. General Insurance
6African Alliance plc

They are widely recognized as the most experienced and strongest
specialist life assurance. Formerly African Alliance Insurance Limited
incorporated on may 6 1960. Presently, the company’s share holder
fund fund is estimated to N3.6BN and asset base of N41.35bn.
1. Annuity Insurance plan

2. Group life Insurance plan

3. Esusu plan

4. Direct debit form plan

5. Individual assurance

6. Investment assurance plan
7Goldlink Insurance

Goldlink have created a profitable enterprise in Nigeria. They are
committed to being among the top insurance companies in
Nigeria. Incorporated on the 15th April 1992 as public liability
company and licensed to operate as full insurance company in
1993.
1. Group life Insurance

2. School Safety plan

3. Compulsory insurance plan

4. Oil and gas plan

5. Engineering insurance plan

6. General Accident plan.

7. Individual life insurance plan

8. Reinsurance plan

9. Liability Policies plan

10. Marine insurance

11. Aviation insurance

12. Motor insurance
8Continental Insurance

Continental states that their vision is to provide credible reinsurance
security and services to their clients.
The company was incorporated in Nigeria in 1985.
Started as general reinsurance insurer in 1987.
1. Business insurance

2. General Insurance plan

3. Auto insurance

4. Home insurance

5. Pet insurance
9Industrial and General Insurance plc

First incorporated as a private limited liability company in 1991.
From the beginning, the company was recognized as specialist in
oil and gas, marine, Aviation, engineering and industrial risk management
1. Group life products plan

2. Mobile phone insurance

3. Aviation insurance

4. Engineering insurance

5. General business plan

6. Health insurance

7. Marine insurance

8. Oil and gas Insurance
10Lasaco Assurance pls

They are one of the fastest growing Insurance company in Nigeria.
Incorporated in 1979. They are the first insurance company in Nigeria to earn
to earn the ISO Certification. NIS ISO 9001
1. Motor insurance

2. Aviation insurance

3. Marine insurance

4. Professional indemnity

5. Fire and special insurance

6. Personal accident insurance

7. Bond insurance

8. Money insurance

9. House hold insurance
Top Insurance companies in Nigeria

The list above are top insurance companies in Nigeria, its now left for you to make your choice on the one with that specific service you are looking for. Insurance not only protect you against unexpected events, it also brings peace of mind.

The Roles of Insurance Companies

  • Provides safety and securities to individuals and organizations
  • Provides financial support and reduces uncertainties to individuals and businesses
  • Generates fund by way of premium from their policy holders
  • Promotes economic growth of a country
  • provides employment opportunities
  • Reduces lost and risk to its policy holders.

Conclusion

Apart from protecting people from potential losses and unexpected risk, insurance companies also help to grow our economy . It is advisable to sign up to an insurance company so that you can have a peace of mind knowing fully well that your risks are covered.

Related Article: Top 10 Best Bank to Bank with in Nigeria

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