Hey fam! 🙌
Let’s be honest—when you hear the word “insurance” in Nigeria, what’s the first thing that comes to your mind?
Exactly! “Wetin concern me with insurance abeg?” 😂
For real though, most of us grew up seeing insurance as something meant for old people, rich uncles with potbellies and three cars, or some oyibo stuff that doesn’t really fit our “Naija realities.” But here’s the thing: insurance is not just some boring adult stuff. It’s your safety net. Your plan B when life tries to show you pepper. And trust me, in Nigeria, life dey show people pepper every day! 🌶️
So, instead of waiting for “village people” to catch up with you before you start thinking about security, let’s talk about 10 insurance companies in Nigeria that are actually reliable. I’m talking about the real MVPs in the game — the ones that pick your calls, pay claims without turning it to family meeting, and don’t disappear when you need them the most.
Ready? Let’s dive in. 💃
1. Leadway Assurance Company Limited
Ah! If you’ve been hearing about insurance in Nigeria and you’ve never heard of Leadway, where you dey since?
Leadway is like that responsible firstborn that always shows up — reliable, organized, and respected. Established in 1970, this company has built mad credibility over the years. They offer everything from life insurance to motor insurance, fire, burglary, travel… name it, they’ve got it!
They’re also tech-savvy. You can get quotes, buy insurance, and even file claims online. No long thing. So whether you’re a Gen Z boss, a remote tech bro, or an upcoming influencer, Leadway got your back.
✅ Why we trust them: Quick claims settlement, digital service options, and a long track record of not messing up.
2. AIICO Insurance Plc
AIICO sounds like one posh name from abroad, but they’re as Nigerian as Agege bread. 😄
Founded in 1963, AIICO is not new to this life. They’ve been around for decades, paying claims and building trust. They provide a wide range of policies — life, health, travel, motor, and even pension plans.
These guys don’t just sell you a policy and ghost you. Their customer service is solid, and they keep improving their digital services so you can reach them from your phone while sipping zobo in your sitting room.
✅ Why we rate them: Legacy brand, trustworthy services, and excellent policy options.
3. AXA Mansard Insurance Plc
AXA Mansard is like that fine girl with brains. Internationally backed (shoutout to AXA Group, France), but locally active. They have swag, structure, and solid services.
Whether it’s health insurance (hello, HMO peeps 👀), travel insurance for your japa dreams, or car insurance for your sweet ride, they’ve got juicy packages.
Also, their mobile app makes it super easy to manage your policies. Imagine renewing your insurance while chilling at Chicken Republic with your spicy wings — technology is sweet abeg.
✅ Why we love them: International standard, user-friendly digital experience, and modern vibe.
4. Custodian and Allied Insurance Plc
If AXA Mansard is the fine girl with brains, Custodian is the steady boyfriend that always shows up and pays the bills on time. 😂
This firm is known for being dependable. Like really dependable. They’ve been operating since 1997 and have established themselves as one of the key players in Nigeria’s insurance space.
Custodian offers everything: life, general, and even investment-linked insurance (because who no like soft life?). And the good thing is, their staff won’t talk to you like you're doing them a favor. They’re professional and super responsive.
✅ Why we stan: Consistency, smooth claims process, and respectful service.
5. Cornerstone Insurance Plc
Let’s just say Cornerstone doesn’t come to play.
Founded in 1991, they were one of the first to fully embrace online insurance in Nigeria. Their website is clean, easy to use, and you can get policies without stepping out of your house — introverts, rejoice! 🙌
They cover motor, travel, gadget insurance (yes o, your iPhone 15 Pro Max can be insured), marine, and more. Their service is quick, and they’re known for honoring claims faster than some banks respond to complaints. No shade. 😅
✅ Why they make the list: Tech-driven, affordable options, and reliable claim settlements.
6. Mutual Benefits Assurance Plc
Mutual Benefits is like that humble achiever. Not too loud, but steady delivering results.
They’ve been around since 1995 and cater to a wide audience, from SMEs to big corporations and everyday Naija hustlers. They’re also big on microinsurance — meaning you don’t need to be Dangote’s cousin to afford coverage.
Their car insurance plans are especially popular. And guess what? They even help with vehicle tracking and recovery in case of theft. Omo, that's advanced security levels!
✅ Why we salute them: Budget-friendly, microinsurance champions, and great for SMEs.
7. NEM Insurance Plc
You know that quiet guy in class that always passes his exams and never causes wahala? That’s NEM Insurance. 😎
They may not make the loudest noise on social media, but they’re legit one of the most respected firms in Nigeria. Established in 1948 (yes, before independence!), these people have seen it all and still stand tall.
They’re known for general insurance, especially car and marine insurance. So if you’re planning to import that dream car from Cotonou or buy one off Jiji, this is one company to consider.
✅ Why they’re solid: Long history, customer satisfaction, and timely payouts.
8. Industrial and General Insurance Plc (IGI)
Don’t let the “Industrial” in their name scare you o. IGI is for everyone!
Founded in 1992, IGI made insurance popular when others were still figuring things out. They’ve insured everything from schools to churches, individuals to multinational companies. That’s range, my people!
Although they’ve had ups and downs in recent years, they’ve still got street credibility for being one of the OGs that laid the foundation for modern insurance in Nigeria.
✅ Why they made the cut: Long legacy, diversified coverage, and a resilient brand.
9. Lasaco Assurance Plc
Lasaco sounds like one of those Yoruba big men’s names, but it’s actually a rock-solid insurance firm. 😂
Established in 1979, Lasaco is especially big on government and corporate insurance, but they’ve also been extending to individual policies. If you’re looking for a firm with integrity and a no-nonsense approach to claims, this is one to consider.
Plus, their motor insurance plans are pretty flexible, even for Uber/Bolt drivers. Talk about supporting the hustle!
✅ Why we rate them: Government trust, straightforward services, and expanding personal insurance.
10. Prestige Assurance Plc
Last but not the least, Prestige Assurance is like that mature friend that knows how to keep calm in the storm. 🧘♀️
These guys have been operating in Nigeria since 1952. That’s like your grandpa’s age, but in the insurance world, age = experience = fewer stories that touch.
They’re known for their straightforward motor, travel, and fire insurance packages. If you own property or plan to buy one someday (we claim it in Jesus name!), you might want to bookmark these guys.
✅ Why we appreciate them: Experience, maturity, and strong reliability.
FAQs (Because I Know You Still Get Questions)
Q: Is insurance in Nigeria even legit?
A: 100%! As long as you’re dealing with NAICOM-licensed companies (like the ones listed here), you’re in safe hands.
Q: Which insurance is best for beginners?
A: Try third-party motor insurance or gadget insurance. They’re affordable and straightforward.
Q: Do I need insurance if I don’t own a car or house?
A: Absolutely. There’s life insurance, health insurance, travel insurance, and even personal accident coverage for you.
Q: How do I know which company to choose?
A: Look at their customer service, claims history, and online reviews. Or just pick from our top 10 list above.
Final Thoughts (Because Adulting is Real)
See ehn, insurance may not be as exciting as the latest Netflix series or as trendy as a viral TikTok dance, but trust me, it’s one of those things you’ll thank yourself for later. It’s not about expecting bad things to happen, but about being prepared just in case they do.
As Nigerians, we face enough uncertainty every day — from fuel prices doing gymnastics, to the power holding doing “hide and seek” with our electricity. Why not take one worry off your plate by choosing a solid insurance firm?
Whether it’s your car, your phone, your business, your life, or even that expensive laptop you bought with your whole salary — get it covered.
Start small if you have to. But start smart.
