There’s no need stressing that insurance is important for protecting one’s life, business or property against unfavourable unforeseen events such as death, fire, theft, damage, etc.

With the aid of appropriate insurance plans, businesses and individuals can avoid bearing the entire costs required for recovering lost or damaged assets.

In Nigeria, there are dozens of insurance companies but it isn’t all of these companies that are really worth considering for reliable insurance plans. Therefore, we have helped you conduct a thorough finding on the best insurance companies in the country.

What are the 10 best insurance companies in Nigeria?

LEADWAY Assurance Company

LEADWAY Assurance is a reputable insurance company concerned with a broad variety of services in the areas of Life & Pensions, General Business Insurance. Notably, some of the company’s ancillary services include Portfolio Management, Bond, Secured Credit and certain other allied financial services.

AIICO Insurance Plc

AIICO is a vibrant insurance company concerned with a number of essential services including Asset Management, Life Insurance & Annuity, General Insurance & Special risks, Pension Management and Health Insurance. Founded in 1963, AIICO Insurance is one of Nigeria’s most trusted insurance companies.

Cornerstone Insurance Plc

Under licensing by the National Insurance Commission (NAICOM), Cornerstone Insurance functions as a public limited liability company offering General Business Insurance and Life Insurance. Notably, Cornerstone Insurance previously operated as a private limited liability company and ever since its establishment, the insurance company has continually proffered solutions to the insurance challenges of its clientele.

Custodian and Allied Insurance

This insurance company is known for rendering a wealth of insurance plans which align with the demands of its clientele. Ranging from Travel Insurance down to Auto Insurance, Tuition Protection and Immediate Annuity, the insurance plans of Custodian and Allied Insurance speak well to clients’ needs.

African Alliance Insurance Plc

This insurance company is highly reputed for its dependable Life Assurance offering. A company incorporated in 1960, African Alliance Insurance prides on its acclaimed trustworthiness and efficiency in the delivery of essential plans some of which include Individual Assurance, Esusu, Annuity Assurance and Group Life Assurance.

AXA Mansard Insurance

AXA Mansard is well known for providing firms, organizations and individuals with non-life insurance and life insurance. Notably, this insurance company is a member of the AXA Group which is one of the major Nigerian companies in the areas of asset management and insurance.

Continental Insurance

Living up to its name, Continental Insurance proffers solutions to both life and non-life insurance needs of its clientele across the African continent. Notably, it’s regarded as the most prominent player in the private arm of the pan-African insurance sector. Some of the insurance plans it offers are Home Insurance, Pet Insurance, Auto Insurance and Business Insurance.

Goldlink Insurance Plc

Goldlink Insurance, which was formerly a private limited liability company, is an outfit offering insurance coverage in Life and General Businesses. The company offers a pretty number of insurance plans namely Travel Insurance, Oil & Gas, Fire and Special Perils, Life & Pension and Motor Insurance and several others.

Lasaco Assurance Plc

Regarded as Lagos State Assurance Company Limited at the point of incorporation in 1979, Lasaco Assurance is a Nigerian insurance outfit licensed in 1980. As one of Nigeria’s most reputable insurance companies, Lasaco Assurance guarantees its clientele trustworthiness in offering a broad range of insurance plans some of which include Bond Insurance, Fire and Special Insurance, Marine Insurance, Motor Insurance, Money Insurance, etc.

Industrial and General Insurance Plc

This insurance company offers insurance coverage in crucial areas including Pensions and Special Risks, General Insurance and Life Insurance. Incorporated as a private limited liability company in the early 1990s, Industrial and General Insurance was, in 2007, ultimately registered as a public limited liability company to offer a broad range of insurance plans including (but not limited to) Health Insurance, Marine Insurance, Engineering Insurance and Aviation Insurance.

Conclusion

The insurance companies up there are all reliable and over the years, they have remained operative in the Nigerian insurance industry. However, it’s advisable that you check out the insurance plans offered by your chosen insurance company before eventually buying its service.