Insurance

Ten leading insurance companies in Nigeria

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NIA Chairman, Eddie Efekoha

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Chuks Udo Okonta

At a time many insurance companies are struggling to remain afloat, ten firms have continued to distinguished themselves through hard work and proper planning, which had positioned them as market leaders in the industry.

The ten leading firms presently controlling the industry’s market share, according to the Nigeria Insurance Digest 2014, published by the Nigerian Insurers Association (NIA), are; Leadway Assurance Limited, which controls 13.29 per event share of the industry with N39.01 billion gross premium. It is followed by AIICO Insurance Plc, 11 per cent, N33.27 billion; Axa Mansard Insurance Plc, 5.77 per cent, N16.94 billion; Custodian & Allied Insurance Plc, 4.79 per cent, N14.06 billion; Mutual Benefits Assurance Limited, 3.87 per cent, N11.35 billion.

Others are, Niger Insurance Plc, 3.77 per cent, N11.06 billion; African Alliance Insurance Plc, 3.45 per cent, N10.31 billion; NEM Insurance Plc, 3.22 per cent, N9.45 billion; Zenith General Insurance Company Limited, 2.63 per cent, N7.72 billion and Sovereign Trust Insurance Plc, 2.48 per cent, N7.29 billion.

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