25 Best Insurance Firms for Your Businesses in Nigeria

Insurance firms for businesses in Nigeria is essential to guarantee that your company is covered from numerous dangers and uncertainties. In Nigeria, there are various insurance firms, each offering a variety of insurance products and services.

However, not all insurance companies are made equal, so do your homework before selecting an insurance provider for your business.

In recent years, the insurance firms for businesses in Nigeria has grown significantly, with a growing number of insurance companies joining the market. With this expansion, however, comes the necessity for consumers to be informed and make informed decisions when selecting an insurance firm.

The 25 insurance firms included in this article are among the finest in Nigeria for businesses. They have a solid reputation for offering high-quality insurance products and services, as well as a track record of dependability and integrity.

This article will give you with all of the information you need to make educated selections, whether you are an individual searching for personal insurance coverage or a business looking for insurance for your operations.

1) Leadway Assurance Company

Leadway Assurance Company is one the most well-known and finest insurance firms for businesses in Nigeria. It was created in 1970 and has since supplied people and companies with insurance services such as life, health, automobile, travel, and non-life insurance.

Leadway is well-known for its customer-centric approach and creative insurance solutions, and the company has received several honors for its work. With a network of branches and agents, the organization has a significant presence throughout Nigeria.

2) AIICO Insurance Plc

AIICO Insurance is a leading insurance company in Nigeria that provides a range of insurance products and services to individuals and businesses. The company was founded in 1963 and has grown to become one of the largest insurance companies in Nigeria.

Some of the insurance products offered by AIICO Insurance include life insurance, health insurance, motor insurance, and travel insurance.

3) Cornerstone Insurance Plc

Cornerstone Insurance is a Nigerian insurance company that provides a range of insurance products and services to individuals and businesses.

The company was founded in 1991 and has grown to become one of the leading insurance companies in Nigeria. Some of the insurance products offered by Cornerstone Insurance include motor insurance, fire insurance, marine insurance, and liability insurance.

4) NEM Insurance Plc

NEM Insurance is a Nigerian insurance company that provides a range of insurance products and services to individuals and businesses.

 The company was founded in 1948 and has grown to become one of the leading insurance companies in Nigeria. Some of the insurance products offered by NEM Insurance include motor insurance, fire insurance, marine insurance, and liability insurance.

5) Regency Alliance Insurance Plc

Regency Alliance Insurance is a Nigerian insurance company that provides a range of insurance products and services to individuals and businesses.

The company was founded in 1992 and has grown to become one of the leading insurance companies in Nigeria. Some of the insurance products offered by Regency Alliance Insurance include motor insurance, fire insurance, marine insurance, and liability insurance.

6) Goldlink Insurance Plc

Goldlink Insurance is a Nigerian insurance company that provides a range of insurance products and services to individuals and businesses. The company was founded in 1992 and has grown to become one of the leading insurance companies in Nigeria.

Some of the insurance products offered by Goldlink Insurance include motor insurance, fire insurance, marine insurance, and liability insurance.

7) AXA Mansard

AXA Mansard is a subsidiary of AXA, a global insurance company. It is based in Nigeria and provides insurance services such as motor insurance, life insurance, health insurance, property insurance, and travel insurance. The company is known for its customer-focused approach, innovative insurance solutions, and strong financial performance.

AXA Mansard has a wide reach in Nigeria, with a network of branches and agents, and provides insurance coverage to individuals and businesses across the country. The company has received recognition for its services and contributions to the Nigerian insurance industry.

8) Anchor Insurance

Anchor Insurance is a leading Nigerian insurance company, known for providing comprehensive and quality insurance solutions to its clients. It offers a wide range of insurance products including motor, fire, marine, oil and gas, aviation, and life insurance, among others.

Anchor Insurance is well-regarded for its efficient claims process and excellent customer service, which has helped it establish a strong reputation in the Nigerian insurance market. The company is committed to providing its customers with innovative and cost-effective insurance solutions, helping to protect their assets and secure their financial future.

9) Continental Insurance

Back in 1985, Continental Insurance started as a private insurance company. 5 years later in 1990, became a full-fledged insurer in Nigeria.

The company has recognition across many African countries for its amazing insurance services including non-life and life insurance. Continental Reinsurance also offers amazing customer service which made it one of the top players in the world of insurance in Nigeria.

10) A&G Insurance Company Limited

A&G Insurance Company Limited is a leading insurance company in Nigeria that offers a range of insurance products and services to individuals and businesses. It is known for providing quality insurance coverage and excellent customer service.

The company has been in the market for several years and has established a reputation for being reliable and trustworthy. It has a wide network of agents and branches across the country, which makes it easily accessible to its customers.

11) Goxi Microinsurance

Founded in 2017, The First Microinsurance Firm in Nigeria with a vision of breaking the barriers of poverty and giving meaning to the life of its customers through innovative risk management solutions.

12) YOA Insurance Brokers

Established in 1978, YOA Insurance Brokers is licensed for operation by NAICOM and is registered with the Financial Reporting Council of Nigeria (FRCN). The company actively collaborate with teeming clients and engages them with trusted advice in effective risk management, helping them make the right choices that uniquely fit their business needs.

13) Unitrust Insurance Nigeria Limited

Unitrust Insurance Nigeria Limited is a Nigerian insurance company that provides insurance services to individuals, families and businesses in Nigeria.

The company offers a wide range of insurance products, including motor insurance, life insurance, health insurance, property insurance, and liability insurance, among others.

Unitrust Insurance is committed to providing quality customer service and has a team of experienced and professional insurance experts who are always available to provide clients with the guidance and support they need.

14) NSIA Insurance Limited

 NSIA Insurance Limited is a Nigerian insurance company that provides a range of insurance products and services to individuals and businesses. The company was founded in 2016 and has grown to become one of the leading insurance companies in Nigeria.

Some of the insurance products offered by NSIA Insurance Limited include motor insurance, fire insurance, marine insurance, and liability insurance.

15) Afriglobal Insurance Brokers Limited

Afriglobal is a company that serves as an intermediary between buyers of insurance products and insurance underwriters otherwise known as insurance companies.

This company’s partnership with other insurance companies in Nigeria helps provide a wide range of insurance services to clients and also helps make sure they get the best value for their money.

16) Colenson Brokers Nigeria

Colenson Brokers Nigeria is a Nigerian insurance brokerage business. They assist companies and individuals discover the finest insurance coverage for their unique requirements by providing insurance brokerage services.

Property insurance, liability insurance, automobile insurance, and health insurance are all available via the organization. They collaborate with a variety of insurance carriers in Nigeria to deliver the finest insurance alternatives to their consumers.

17) Orange Insurance Brokers Limited

Orange Insurance Brokers Limited is a Nigerian insurance brokerage firm that serves people, families, and companies in Nigeria.

The organization collaborates with numerous insurance companies in Nigeria to provide clients with a diverse variety of insurance products such as vehicle insurance, life insurance, health insurance, and property insurance.

18) Nigerian Agricultural Insurance Corporation

The Nigerian Agricultural Insurance organization (NAIC) is a government-owned organization in Nigeria that was founded to offer insurance coverage for farmers, fishermen, and other agricultural players in the country.

19) Bastion Health Limited

Bastion Health Limited is a Nigerian health insurance firm that offers a variety of health insurance services to individuals and organizations around the country. To cover policyholders’ medical expenditures, the firm provides a variety of health insurance products, including individual and group health insurance.

Bastion Health Limited also provides health management services such as preventive health programs, risk assessments, and referrals to reputable healthcare professionals.

20) SBG Insurance Brokers Ltd

SBG is a market-leading insurance brokerage business in Nigeria, providing insurance intermediation services, structuring insurance plans for customers, and convincing insurers to cover risks at low premium price. The organization also ensures effective and efficient managing of customers’ insurance portfolios, offering claims management as well as consulting services that will be required on all claims.

21) FBS Reinsurance Limited

FBS Reinsurance Limited is a Nigerian reinsurance firm. Reinsurance is a type of insurance that businesses buy to lessen the financial risks associated with their core insurance activities. FBS Reinsurance Limited provides reinsurance services to Nigerian insurance firms, covering a variety of insurance risks including as property damage, liability, and life insurance.

22) Hogg Robinson Nigeria Limited

Hogg Robinson Nig. Ltd. is a Nigerian company that was registered by the Corporate Affairs Commission in 1974 as an Insurance Broker with the authority to conduct all types of insurance business.

The company has a strong reputation in the insurance industry, with a large number of specialists operating in all critical sites throughout Nigeria and with partners in many African nations.

The creation and construction of specialised divisions such as Oil and Gas, Marine & Aviation, Construction and Engineering, Industrial & Commercial, Reinsurance, and Multinational Risks Management are key to Hogg Robinson’s business strategy.

23) Intentional Energy Insurance Plc

Intentional Energy Insurance Plc is a Nigerian insurance firm that specializes in oil and gas exploration, production, and distribution. The firm provides insurance for a variety of energy-related hazards, including property damage, liability, and environmental risks.

24) Linkage Insurance

Linkage Assurance Plc was founded in 1991 and was granted a license to provide non-life insurance business in 1993. The company’s headquarters are in Lagos, Nigeria, and it has branch offices in 13 states around the country.

Linkage Assurance Plc is one of Nigeria’s premier insurance service providers, with a reputation for providing great services and timely real claims payout that exceeds clients’ expectations.

25) Allianz Nigeria Insurance Plc.

Allianz Nigeria Insurance Plc is a subsidiary of Allianz SE, a global leader in financial services. It provides people and companies in Nigeria with a variety of insurance products and services, including life insurance, general insurance, and asset management. Allianz Nigeria Insurance Plc is based in Lagos, Nigeria, and maintains a nationwide network of branches and agents.

There are various aspects to consider when selecting insurance firms carrier for your businesses in Nigeria.

These are some examples:

Look for an insurance provider that has a solid reputation for offering high-quality insurance goods and services.

Select an insurance firm with a solid track record of financial success and financial stability.

i) Financial stability

Look for an insurance provider that provides a variety of insurance products to match the unique demands of your business.

Choose an insurance provider that provides good customer service and assistance and is attentive to your demands.

ii) Claims procedure

Look for a business that has a clear and uncomplicated claims process, as well as one that is prompt and fast in addressing claims.

By taking these aspects into account, you can make an informed decision when selecting an insurance carrier for your Nigerian business.

Conclusion

insurance firms coverage is critical for businesses in Nigera since it protects them from numerous risks and uncertainties. Choosing the proper insurance provider for your business might be difficult with so many insurance firms operating in Nigeria.

However, by conducting research and taking into account the variables stated in this article, you may select an insurance provider that fulfills the unique demands of your business while also providing the finest coverage for your risks.