List Of Insurance Companies In Nigeria And Their Addresses


List of Insurance Companies In Nigeria

List Of Registered Insurance Companies In Nigeria And Their Addresses.

There are about 57 registered insurance companies in Nigeria. 14 of them are in the life insurance business while 43 are the non-life insurers. And there are also 2 reinsurance companies whose roles are to provide technical security and capacity for the insurance companies.

Their are other stakeholders of Insurance companies in Nigeria include agents (individual and corporate), brokers, surveyors and third party administrators servicing health insurance.


The main idea of insurance is that the insurer will ensure instalment for an unsure future occasion while another party, the insured or the policyholder, pays a small premium to the insurer in return for that security on that real uncertain future occurrence.

How Does Insurance work In Nigeria?

Basically, Insurance companies in Nigeria are available to help you pay for damage to your property or to pay others on your behalf when you injure someone or damage their property.

In a nutshell Insurance is a contract that transfers the risk of financial loss from an individual or business to an insurance company. The company collects small amounts of money from its clients and pools that money together to pay for losses.

The term Insurance is divided into two major categories,

Property and Casualty insurance (P&C) and
Life and Health insurance.

Property and casualty insurance provides protection to businesses and individuals for losses related to their belongings or assets, both physical and financial terms.

Life and health insurance in the other hand protects people from financial loss due to premature death, sickness or disease.

Insurance do use probability and the law of large numbers to determine the cost of insurance premiums and it charges its clients based on various risk factors. The rate must be sufficient for the company to pay claims in the future.

Now it goes this way the more likely an event will occur for a given client, the more insurance companies will need to collect to pay the anticipated claims.

Insurance companies market their products and services to consumers in different ways.
And the price companies charge for insurance coverage is subject to government regulation.

What Is An Insurance Company?

It simply means a company that offers insurance policies to the public, either by selling directly to an individual or through another source such as an employee’s benefit plan. An insurance company is usually made up of multiple insurance agents.

One insurance company can specialize in one type of insurance. An example is life insurance, health insurance, or auto insurance, or if possible offer multiple types of insurance.

List of insurance companies
List of 57 registered insurance companies in Nigeria, they include,

•AIICO Insurance Plc.

•NICON Insurance Plc.

•Leadway Assurance Company Limited

•African Alliance Insurance Company Ltd

•Alliance & General Insurance Plc.


•Anchor Insurance Company Ltd

•ARM Life Plc.

•AXA Mansard Insurance plc.

•Capital Express Assurance Limited

•Consolidated Hallmark Insurance Plc.

•Continental Reinsurance Company Plc.

•Cornerstone Insurance Plc.

•Custodian & Allied Insurance Limited

•Custodian Life Assurance Limited.

•FBN General Insurance Limited.

•FBN Insurance Limited

•Fin Insurance Company Limited

•Great Nigeria Insurance Plc.

•Guinea Insurance Plc.

•Goldlink Insurance Plc.

•International Energy Insurance Plc.

•Industrial & General Insurance Plc.


•KBL Insurance Limited

•LASACO Assurance Plc.

•Law Union & Rock Insurance Plc.

•Linkage Assurance Plc.

•Tangerine Life Insurance Ltd

•Mutual Benefits Assurance Plc.

•Mutual Benefits Life Assurance Ltd

•NEM Insurance Plc.

•Niger Insurance plc.

•Nigeria Reinsurance Corporation

•Nigerian Agricultural Insurance Corporation

•NSIA Insurance Ltd

•Old Mutual Nigeria General Insurance Company Limited

•Old Mutual Nigeria Life Assurance Company Limited

•Prestige Assurance Plc.

•Prudential Zenith Life Assurance Company Limited

•Regency Alliance Insurance Plc.

•Royal Exchange Prudential Life

•Royal Exchange Prudential Life

•Unitrust Insurance Nigeria Limited

•Sovereign Trust Insurance Plc.

•STACO Insurance Plc.

•Standard Alliance Insurance Plc.

•Sterling Assurance Nigeria Ltd

•SUNU Assurance Plc.

•UNIC Insurance Plc.

•Zenith General Insurance Company Limited

•GOXI Micro insurance.

•NOOR Takaful Plc.

•Cornerstone Takaful Insurance Co. Ltd

•Universal Insurance Plc.

•Veritas Kapital Assurance Plc.

•Coronation Insurance.


1. AIICO Plc

AIICO Insurance Plc is an insurance, pensions management, and asset management Group established in 1963. It is of the top insurance companies in the country its key focus on, General insurance and special risks, Life assurance and annuity, Health insurance, Asset management, and Pension management. Their services includes.

Income investment plan
Three payment plan
Travel insurance
corporate saving plan
Education investment plan
Flexible endowment plan
Term assurance plan
Electronics equipment policy plan
Address: Plot PC 12, Churchgate Street,
Victoria Island, Lagos.
Tel: 0700 AIIContact (0700 2442 6682 28)
Tel 2: 01 279 2930


2. Nicon Insurance

Nicon was originally owned by Federal Government of Nigeria. Established to assist the development of insurance companies in Nigeria and to ensure that the Federal Government’s assets and properties are protected. However, NICON was privatized in December, 2005. Currently, the company has 40 branches and six regional offices. Product includes:

Motor Insurance
Fire Insurance
Marine Insurance
Special Products Insurance
General Accident Insurance
Oil & Gas
Car Engineering
Life Insurance
Aviation Insurance
Address: Ground Floor, NICON Plaza, plot 242, Muhammadu Buhari way, central district, Abuja

Tel: 09087260168, 08055084597


3. Lead Way Assurance Company

LEADWAY offers services in both Life and Pensions and also
LEADWAY Assurance (founded in 1970) offers insurance services in General business insurance and Life & Pensions.

The Company also offers allied financial services such as Secured Credit, Bond, Miscellaneous financial losses and Portfolio management.
They are very active online, across various social media channels and have computerised most of their operations to boost effectiveness. Services includes:

Family Benefit plan
Lead way saving plan
Term assurance plan
Money policy plan.
Educational saving plan
Personal saving plan
Deferred annuity plan

4. Sterling Assurance Plc

Sterling Assurance Plc was established in 1990 and offers all classes of general coverage. Importantly, their products are backed up by highly profiled reinsurance organisation like General Insurance Corporation of India (GIC), Africa Re, Continental Re, etc. Also, the company’s product includes: Fire and Special Perils, Burglary and House, Motor, Money Insurance and many more.

Address: 284, Ikorodu Road, Anthony, Lagos, Nigeria

Tel: 08150643531-2, 08178000222, 08178000333, 08178000444


5. Law Union And Rock

Law Union and Rock pride in their experienced underwriters and automated processes. Another thing that sets them apart is their partnership with re-insurers who give them the assurance they need to underwrite risks.

Address: Law Union House, 14, Hughes Avenue, Yaba, 1000001, Lagos, Nigeria

Tel: 09036000066


6. FBN Insurance Ltd

A company licensed to transact general insurance business in Nigeria. The company is jointly owned by FBN Holdings Plc and the Sanlam Group. They provide coverage for both individuals and corporates alike.

Head Office: 298, Ikorodu Road, Anthony b/stop, Lagos, Nigeria.

Tel: +234 1 9054810


7. Standard Alliance Insurance Company Limited

Standard Alliance is licensed by the National Insurance Commission (NAICON) to transact general and special risk business. The company got registered as a private limited liability company in July, 1981 under the name Jubilee Insurance Company Ltd. Their product covers, aviation, bonds, goods in transit and machinery breakdown as well.


Address: Plot 1, block 94, Providence Street, Lekki Scheme 1, Lekki-Epe Expressway, Lagos.

Tel: 09055694301, 0700-6678-72623


8. Custodian And Allied Insurance

Custodian and Allied insurance company provide a wide range of insurance plans to choose from. Each plan is tailored to the needs of their clients. Services includes:

Investment plus plan
Immediate annuity plan
Tuition protection plan
Auto insurance plan
Travel insurance plan
Capital plan

9. Cornerstone Insurance Plc.

Cornerstone Insurance company was incorporated as a private limited liability company on July 26, 1991. Eventually, it became a Public Limited Liability and was quoted on the Nigerian Stock Exchange(NSE) in 1997.

Since its inception, Cornerstone Insurance has remained dedicated, putting their client first and creating solutions that meet their needs.
It is licensed by NAICOM -the National Insurance Commission – to do both Life and General business insurance. Services includes:

Motor insurance plan
Gadget protection plan
Investment plan
Halal Takaful plan
School fee guarantee plan
Goods in transit plan
Home insurance plan
Life insurance plan
Annuity plan
Marine insurance plan
Travel insurance plan

10. AXA Mansard Insurance

AXA Mansard is a member of the AXA Group. AXA Group is a top player in insurance as well as asset management. The group of companies serves 107 million clients in over 60 countries.
The Company provides life insurance as well as on-life insurance solutions to individuals and organisations in the country. Services includes:

Student protection plan
Autoflex plan
Equity income plan
Auto classic plan
Money market plan
Easy care plan
Life savings plan
Instant plan
Health plan
Retirement savings plan
General ( business/ tourism) protection plan

11. African Alliance Insurance Plc

African Alliance Insurance plc., was incorporated on May 6, 1960. The insurance Plc company has a reputation for being efficiencies and trustworthy in Life Assurance. In addition, they personalise their insurance products tailored for each stage of their clients’ lives. Services includes:

Annuity assurance plan
Group life assurance plan
Esusu plan
Direct debit form plan
Individual assurance plan
Investment assurance plan

12. Goldlink Insurance Plan

This insurance company was incorporated as a Private Limited Liability Company on April 15, 1992, It later converted to a Public Liability Company on May 11, 2007, and was listed on the NSE by an introduction on February 12 2008.
Goldlink Insurance Plc is licensed to do both Life and General Businesses. These include plans such as Motor Insurance, Fire and Special Perils, Oil & Gas, Life & Pension, and Travel Insurance. Services includes:

Group Life Insurance plan
School Safety plan
Compulsory Insurance plan
Oil & Gas plan
Engineering Insurance
General Accident plan
Individual Life Insurance plan
Reinsurance plan
Liability Policies plan
Marine & Aviation plan
Motor Insurance plan

13. Continental Insurance

Continental Insurance is the private sector leader of the pan-African insurance industry. The Company provides life and non-life insurance solutions to its clients across the continent. Services includes:

Business Insurance plan
Insurance plan
Auto Insurance plan
Home Insurance plan
Pet Insurance plan

14. Zenith General Insurance Company Limited

Zenith is another leading insurance institution in Nigeria. Their product ranges from corporate to personal and travel insurance. Zenith is committed to giving peace of mind and creating values to people in a world of uncertainties.

Address: 13/14th floor, Civic Towers, Ozumba Mbadiwe Avenue, Eti-Osa, Lagos.

Tel: (+234) 0127811771, (+234) 012783421, (+234) 01 2783411

15. Lasaco Assurance Plc

Lasaco Assurance Plc was incorporated on December 20, 1979, under the Companies Decree of 1968.
At that time, the Company, was called Lagos State Assurance Company Limited. Eventually, they got License as an Insurer on July 7, 1980, and commenced operations on August 1 1980. Services includes:

Motor insurance plan
Aviation insurance plan
Marine insurance plan
Professional indemnity insurance
Fire and Special insurance plan
Personal accident plan
Bond insurance plan
Money insurance
Householder’s Insurance plan

16. Lasaco Assurance Plc

Lasaco was incorporated on 20th December, 1979 but was granted license on 7th July, 1980. The company transacts life and non life insurance.

Address: Plot 16, Acme Road, Ogba, Ikeja, Lagos, Nigeria. P.O. Box 3724

Tel: 07000527226

17. Royal Exchange Plc
Royal Exchange began operations in Nigeria in 1918 and was represented by Barclays Bank DCO. Thereafter, in 1921, Royal Exchange converted to a full branch of its then parent company, Royal Exchange Assurance, London. Their products include Royal money guard, Royal Burglary protection, Royal fire protection, Royal transit plan and many more.

Address: New Africa House, 31 Marina, Lagos.

Tel: +234-1-4606690-9

18. Guinea Insurance Plc
The company is also a well sought after company in Nigeria. They began operation on December 3rd, 1958. Their product covers general accident, engineering and special risk.

Address: 33, Ikorodu Road, Jibowu, Lagos.

Tel: 01-4622050-2, 018446470, 07098212408

19. Anchor Insurance Plc
Anchor is a non-life insurance outfit registered and licensed in October, 1989, but started full operation in November, 1989. Currently, Anchor has expanded to 19 branch offices across the country.

Registered Office: 7/13, Aka Road, Uyo, Akwa Ibom State

Tel: 08067107569


20. Wapic Insurance Plc
Wapic provides general and life insurance policies at competitive rates for both individual and corporate clients. They started in 1958 and got licensed to carry out different classes of insurance including fire and special perils.

Address: 119 Awolowo Road, Ikoyi, Lagos, Nigeria.

Tel: 012774500, 0700342592742

21. Great Nigeria Insurance Plc

GNI has over 55years experience in underwriting, financial advisory and real estate investments. Also, GNI Plc employs state of the art information technology in its operation. Product offers include: group life assurance, fire and special peril, workmen compensation and many others.

Regional Office: 8, Omo Osagie Street, off Awolowo Road, Ikoyi, Lagos.

Tel: +234 8142478829, +234 8052601713, +234 8023229210


14. Industrial And General Insurance Plc
The insurance company was incorporated as a private limited liability company on October 31, 1991. The Company got registered as a public limited liability company in 2007. After that, they commenced operations in Life and General insurance, in addition to Pensions and Special Risks in January 1992.

Industrial and General Insurance Plc offer tailor-made insurance solutions to match their client’s unique needs. Services includes:

Group Life Products plan
Mobile Phone Insurance Plan
Aviation Insurance plan
Engineering Insurance plan
General Business Insurance plan
Health Insurance Plan
Marine Insurance plan
Oil & Energy

Finally the above are the list of registered insurance companies in Nigeria and their addresses.

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