Top 10 leading insurance companies in Nigeria in 2020
Well, guys, we are gonna discuss the topic: the top 10 leading insurance companies in Nigeria for the year 2020. We’ve been receiving lots of emails concerning this particular topic, and today we’ve decided to get it done so as to attend to the needs of our readers who believe in us. We apologize for the late post though, now let’s go straight to the matter of the day.
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Ok, let’s quickly note some simple terms in insurance to help us understand the entire page.
SOME INSURANCE TERMS AND IT’S MEANING
AGENT: an agent is a representative of an insurance company who sells insurance products to clients.
BROKER: a broker is an individual or insurance institution that sells insurance products for different insurance companies.
COVERAGE: coverage simply means the amount of protection you already purchased.
CLAIM: This is an Official notice a person(s) provide to an insurer requesting to be paid for a loss of event covered by your insurance policy.
INSURED: is an individual being protected by the insurance policy.
INSURER: Is the Insurance institution that issues the insurance policy
POLICY: This refers to the legal contract between the insured and the insurer
Now that we have noted the terms to help us understand top insurance companies in Nigeria and the world as a whole, it is time we proceed to the business of the day; TOP 10 BEST INSURANCE COMPANIES IN NIGERIA.
Leading insurance companies in Nigeria sell many kinds of insurance products which includes; car insurance, aviation insurance, life insurance, agricultural insurance, home insurance, contractor-All-risk insurance, disability insurance, business, and health insurance.
Here are the TOP 10 LEADING INSURANCE COMPANIES IN NIGERIA IN 2020
- AIICO Insurance Plc (American International Insurance Company).
AIICO is a division of American life insurance that started in early 1963 using AIICO as an agency office.
AIICO Insurance Plc aimed at providing health, life and general insurance, they also provide investment and pension management services as an avenue to protect individuals’ wealth, families and properties. They offer mortgage insurance plans, E-Insurance and many more.
AIICO has maintained its first position in the top 10 best insurance companies in Nigeria for a couple of years now as it maintained its tradition of providing quality insurance products to its clients.
AIICO BOARD OF DIRECTORS INCLUDES;
- Kundan Sainani
- Babatunde Fajemirokun
Managing Director/ Chief Executive Officer
- Adewale Kadri
Executive Director, Technical
- Olusola Ajayi
Executive Director, Group Retail Business
- Ademola Adebise
- S.D.A Sobanjo
- Samaila Dalhat Zubairu
- Folakemi Fajemirokun
AIICO INSURANCE PLC has branch offices scattered nationwide with its cool customer service and quality products.
You can as well contact AIICO Head office: Plot PC 12, Church Gate Street, Victoria Island, Lagos. Official Website: http://www.aiicoplc.com, Phone contact: 01 279 2930
AXA Mansard Insurance plc
AXA Mansard Insurance Plc is one of the top 10 leading insurance companies in Nigeria in 2020 and Africa at large, it has a solid foundation built on trust and offers quality insurance products across the globe.
AXA Mansard has a strong company profile and amazing team, it offers various insurance packages such as:
- Life insurance which includes life savings and instant plans.
- Auto insurance which includes AutoClassic, AutoPlus and many more.
- Travel insurance, general insurance, students’ insurance protection, health plans, pension plans and so on.
AXA Mansard has been in existence in Africa for over twenty years.
Head office address: 928A Aboyade Cole Street, Victoria Island, Lagos. AXA official website: https://www.axamansard.com/ AXA Hotline: 08150490199.
3. Leadway Assurance Company Limited
LEADWAY has been one of the top 10 insurance companies in Nigeria since it’s existence in Nigeria, leadway has a reputable service efficiency and client reliability. Leadway was found by Dr. Olusola Hassan O. in 1970 and became fully operational in early 1971. They have the best management team with good reputations.
Leadway Assurance Company Limited offers various insurance products such as Personal insurance, SME insurance, Corporate insurance such as; Marine insurance, accident policies, etc, They also sell health and life insurance protection, General insurance protection, investment plans, and savings, the list continues.
Leadway has branches in almost all the 36 states, Click to see all the branch addresses near you file:///C:/Users/Nuel%20Orchard%20Ltd/Downloads/Contact%20Us%20-%20Leadway%20Assurance%20Company.html
4. Mutual Benefits Assurance Plc
Mutual Benefits Assurance Plc is another reputable insurance company that has maintained its position in the list of top 10 insurance companies in Nigeria which emerged in April 1995 with full operational activities and well-equipped staffs.
MBA, as it is called by its customers, sell quality insurance products with many benefits for every insurance package purchased by its customer, some of their products include pure life insurance, auto insurance, investment schemes, kids education plans, travels, fire, and perils, etc.
You can easily contact MBA head office at Aret Adams House, 233 Ikorodu Road, Ilupeju, Victoria Island Lagos. Official Website: http://www.mbaplc.com hotline: 09054644444, 09054744444
Cornerstone Insurance PLC
Cornerstone Insurance Plc is another insurance company in Nigeria that we can trust for their efficiency and effective excellent service delivery.
Cornerstone has also barged different kinds of awards based on the high level of competency and professionalism. Cornerstone Insurance Plc has a management team that we can be proud of. Cornerstone was incorporated in July 1991 and will clock 29 years by July 2020.
Some of their products include Motor insurance, Travel insurance, Home Insurance, Life insurance, Annuity, Goods in transit, Combined fire and burglary, Marine Insurance, Mymoto shield, Gadget Inspector Plan, Drone Insurance, etc.
Cornerstone Insurance Plc has branches and outlets scattered nationwide, some of the locations they have branches and outlets include:
- PORT HARCOURT (Branch), Phone: 01-2806500
- ABUJA (Branch), Phone: 0803 502 6956
- UYO (Branch), Phone: 0813 045 5433
- IKORODU (Sales outlet), Phone: 01-2806500
- OWERRI (Sales outlet), Phone: 0803 541 8019
- ILORIN (Sales Outlet), Phone: 0802 060 3197
- IKEJA (Branch), Phone: 0802 306 9814
- YABA (Branch), Phone: 01-2806500
- LAGOS ISLAND (Branch), Phone: 01-2806500
- YENOGOA (Sales Outlet), Phone: 0803 741 1444
- IBADAN (Branch), Phone: 0802 909 4320
- KANO (Branch), Phone: 0703 343 8119
- FESTAC (Sales Outlet), Phone: 01-2806500
- APAPA (Sales Outlet), Phone: 01-2806500
- IKOTA SHOPPING COMPLEX (Sales Outlet), Phone: 01-2806500
- SULEJA (Sales Outlet), Phone: 0805 511 1604
- ABEOKUTA (Sales Outlet), Phone: 0802 874 8810
- WARRI (Branch)Phone: 0803 388 9679
Head office address at Lagos: Water Corporation Drive off Ligali Ayorinde Street, Victoria Island, Lagos. Official website: https//:www.cornerstone.com.ng Hotline: 0810 6000 800
- Industrial and General Insurance Plc (igi)
Industrial and General Insurance Plc became fully operational as a composite institution early 1992 after it re-registration as a public limited liability
Industrial and general insurance Plc is growing rapidly and has regularly clichéd its position in the top 10 best insurance companies in Nigeria with thousands of customers nationwide.
Products include; car Insurance, Life protection insurance, Engineering/contractor risk insurance, Marine, Travel and Health insurance, Fire Insurance, Aviation, Oil and energy, and many others.
Igi also operates with subsidiaries.
IGI was the first private insurance institution in Nigeria to post N1 billion premium income just after four years of its existence with other landmark achievements.
Igi Lagos office: No 2, Agoro odiyan street, off Adeola Odeku Street Victoria Island Lagos Nigeria. For more information visit igi official website via http://www.iginigeria.com
- Custodian and Allied Insurance Plc
Custodian and allied insurance plc is one insurance company with the management team we can boast of with a high level of professionalism. It is one of the capitalized insurance companies in Nigeria with thousands of customers. Custodian and allied insurance plc deliver at any point in time.
It was found in 1977 and became fully operational on August 13th, 1997 with the capacity to provide general and life insurance.
CAI insurance products include; auto insurance, health insurance, travel, and home shield, personal accident and wealth management insurance.
They have the best customer support for their clients.
Office Address: 16A, Commercial Avenue Sabo, Yaba, Lagos. visit the official website: http:// www.custodianplc.com.ng Phone contact: 01 277 4000
- NEM Insurance Plc
NEM Insurance Plc is a well-known company in Nigeria insurance industry. NEM came in as a Nigerian company in 1970. NEM later in 2007 merged with Vigilant Insurance Company Ltd and became bigger, better and stronger.
It was formally focused on life and non-life business till after the merge in 2007 they were able to offer general insurance protections e.g. Travel insurance, fire insurance, motor insurance and many more.
NEM Lagos Office address: 199 Ikorodu Rd, Obanikoro Lagos state. NEM official website www.nem-insurance.com
Consolidated Hallmark Insurance Plc
Consolidate Hallmark Insurance still fall under the list of the leading insurance companies in Nigeria in 2020.
Consolidated hallmark insurance plc has a great commitment to keeping up to international standards and maintaining excellent service delivery.
They offer various types of insurance products to protect their customers from losses, products include property insurance, business, and gadget insurance vehicle insurance and so on.
Office Address: No 266, Moshood Abiola Way, Obanikoro, Lagos state. The official website for more information www.chiplc.com
- Prestige Insurance Ltd
Prestige insurance plc is another insurance company in the top 10 rankings of Nigerian insurance companies, the excellent service provided for its clients had won her award and was selected as the insurance broker of the year last year.
Prestige Insurance Ltd was founded in 1988. It is an insurance company in Nigeria that offers insurance and reinsurance.
The services they offer include motor, business, home, life and provision of risks identification management, claim advisory/management, etc..
Contact Head office via 19, Ligali Ayorinde Street Victoria Island, Marina Lagos.
Official website: http://www.prestigeassuranceplc.com
With all indications, above is the list of leading insurance companies in Nigeria in 2020.
I hope we‘ve been able to answer your questions on “Top 10 Best Insurance Companies In Nigeria in 2020 and its likes.
Thanks for reading
Best regards, Infoglobe Media Team