Top 5 Insurance Companies In Nigeria and their Specifications

Top 5 Insurance Companies In Nigeria

It is one thing to get insurance, and it is another to get it from the right company. Most people are often misled into insuring their assets and lives with swindlers who pose as insurance companies.

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One major cause of this is branding. Some brandings are so deceptive that even the most careful of persons can fall victim. In this article, we’ll explore the top five insurance companies in Nigeria.

Before we proceed, take a look at our article that talks about 5 Reasons Why You Should Get Insurance For Your Small Business.

See the Top 5 Insurance Companies In Nigeria below:

1. AIICO Insurance Plc

AIICO Insurance Plc has been in existence since 1963. Yes, since Nigeria became a republic. This insurance company is famous for its professionalism, staff dedication and effective claim settlements.

AIICO performs a lot of insurance duties to individuals and group. Below are the top services they offer.

  • Life Assurance
  • Auto Insurance
  • Business Insurance(Big and small business inclusive)
  • Agricultural Insurance.

2. Lead Way Assurance Company Limited

This is yet another great insurance company in Nigeria. Lead Way has been operating in Nigeria since 1970, and it has been a very wonderful experience. This company has its headquarters in Maryland, Lagos.

But this is no impediment as they offer services to anyone wherever they are all thanks to their state of the art website.

Not only does Lead Way offer insurance services, but they are also into pension management and savings for retirees in Nigeria.

Below is the list of insurance services they offer.

  • Fire Insurance
  • Motor Vehicle Insurance
  • Employee Insurance

3. Cornerstone Insurance Plc

This insurance company was established on 26th July 1991. It was a private limited liability company at the time of its establishment.

In 1997, the company officially became a public limited liability company after it got licensed by NAICOM(National Insurance Commission).

This company is known to pay attention to small businesses. Not only do they offer amazingly affordable insurance services, they also give financial advice.  This insurance company is very advanced in the use of technology.

This is very evident in the 2016 Nigerian Technology Wards. Cornerstone Insurance Plc was announced as the best insurance company in terms of tech usage.

4. AXA Mansard Insurance

AXA Mansard Insurance Company is one great insurance company that has earned the trust of both Nigerians and foreigners alike.

This company has different branches all over the world. It has branches in Europe, North America, Europe, Asia, Cameroon, Senegal, Gabon and other countries.

It is the perfect insurance company you should employ for your travels, life, business, and financial counselling.

5. GoldLink Insurance Plc

This Insurance Company has been in Nigeria since 1992. This company is well versed in business insurance, life assurance, auto insurance and a plethora of others.

They make customer satisfaction a priority and do not delay in claim settlements as well. They are very considerate and affordable.


Insurance has become a necessity for every business and individual. But like we said at the beginning of this article, a lot of greedy people swindle people under the guise of insurance.

But you do not have to worry anymore about the authenticity of an insurance company after reading this article. These insurance companies we’ve talked about in this article offer nothing but the best!

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