Today i'm going to share with you guys the best 10 reliable insurance companies in Nigeria. Please if you know any insurance firm that is reliable and not listed here, mention them via the comment box. You are also free to share your experience with any of these firms. Thanks you!


1. Nigeria Deposit Insurance Corporation (NDIC)

Nigeria Deposit Insurance Corporation (NDIC) has its origin in the report of a committee set up in 1983 by the Board of the Central Bank of Nigeria (CBN), to examine the operations of the banking system in Nigeria.


2. ANCHOR INSURANCE COMPANY LIMITED

Anchor Insurance Company Limited was registered and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit and started business in November of the same year.

The Company commenced operations at its registered office in Uyo, Akwa Ibom State and later, for business reasons, joined its fellow underwriting outfits in Lagos. While it has its Victoria Island office in Lagos as its Corporate Head Office, its Uyo office remains its registered office. At the moment, Anchor Insurance Company Limited has expanded to not less than nineteen branch office network located at strategic cities across the country.

The Company has constantly been showing strength and innovation in product and customer service delivery, yearly bottom line performance and timely claims administration. As at year ended 31st December, 2017, the company’s gross written premium was N2.2bn, total assets stood at N6.2bn, shareholders’ funds was N5.1bn and solvency margin amounted to N5.1bn.

As a general business insurer, this solvency status as assessed by the National Insurance Commission (NAICOM) placed Anchor Insurance Company Limited in Tier 2 category of the Tier-Based Minimum Solvency Capital (TBMSC) policy (now suspended) for insurance companies in Nigeria. Not comfortable with the Tier 2 status which the organisation’s current solvency margin has put it, the Board of Directors responded with a deliberate decision to place the company on the TBMSC Tier 1 list.

Though NAICOM has suspended the implementation of the TBMSC policy, the Directors are resolute on their decision as the assigned Company’s financial consultants are currently working to achieve this feat within the deadline set by the Board.


3. INSURANCE BROKERS OF NIGERIA LIMITED

Insurance Brokers of Nigeria Limited (IBN) is Nigeria’s premier insurance broking and risk advisory firm established in 1955 as C. T. Bowring & Company (Incorporated Insurance Brokers).

Our corporate culture is built on our vision, promise and commitment to create and deliver innovative risk and insurance management solutions that make our clients more successful.

This commitment is focused on our core values of professionalism and integrity that has endured since our establishment with more than 60 years of respected continuous service.


4. FBNINSURANCE

FBNInsurance is a life insurance business providing coverage for Individual and Corporate Clients. We are the youngest startup insurer in Nigeria with presence in strategic geographical locations across the country, capitalizing on our relationship with FBN Holdings Plc.

Our products help our customers enjoy the peace of mind that comes from managing the risks of everyday life. With us, they can save for a comfortable future and protect what matters to them.

One of our primary objectives is to help people, businesses and communities get back on their feet when the unexpected happens. It is therefore our responsibility to make sure we are there for our customers both today and in the future.

FBNInsurance is a Limited Liability Company licensed to transact Life Insurance businesses in Nigeria.

The Company is jointly owned by FBN Holdings Plc (65%) and the Sanlam Group, one of the largest financial institutions in South Africa (35%) and it officially commenced operations on the 1st of September 2010.

Drawing from the knowledge and experience of our owners, we intend to play a significant role in the development of the insurance industry in Nigeria. To achieve this, we are anchoring our operations on product innovation, efficient service delivery and prompt claim settlement.

In 2014, we acquired a General insurance business – Oasis Insurance, now known as FBN General Insurance (a subsidiary of FBNInsurance) – and overturned the loss position of the newly acquired company within one year.


5. AIICO INSURANCE PLC

Aiico has become the largest Life Insurer in Nigeria and a major player in General Insurance business.

The company’s success has been the result of its ability to evaluate its potentials, set realistic goals and take necessary actions to achieve them. Strategies may change, objectives and organizational structures of the company can be reviewed from time to time, the end result is to ensure optimum performance.


6. PRESTIGE INSURANCE BROKERS LIMITED

Established in 1988, Prestige Insurance Brokers Ltd was duly registered as Insurance Brokers by the National Insurance Commission (NAICOM) to transact all classes of insurance business.


7. ZENITH ASSURANCE COMPANY

Zenith Life Assurance Company is a member company of the Zenith Bank Group and is fully capitalized to the tune of N2 billion in line with the recapitalization requirements of NAICOM. Zenith Life core values and qualities focus on product innovation and excellent customer services.


8. STERLING ASSURANCE NIGERIA LIMITED

Sterling Assurance Nigeria Limited was incorporated in 1990 and provides competitive services for all categories of General Insurance. The authorized share capital is presently N5 billion with N3.81 billion as shareholders’ fund.

This company emphasizes excellent, prompt and efficient underwriting and claims service delivery and has gained the confidence of major intermediaries and corporate insurance buyers by reason of these virtues.

The Company’s Head office is at Sterling Assurance House, 284, Ikorodu Road, Anthony, Lagos.

Our Insurance covers are backed up by adequate reinsurance arrangements with highly reputable reinsurance organisations among which are General Insurance Corporation of India (GIC), Africa Re, Continental Re, BEST Re, Tunis Re and AON Group.

For our Energy business, we have Energy package Treaty arranged by JLT Re with Lloyd’s underwriters and ACE European Group Limited. Sterling Assurance Nigeria Limited is focused on providing sound risk management services, wealth creation and profit optimization as well as being socially responsible.

Our professional responsibilities are primarily handled by the Technical Division, which is staffed by highly qualified personnel. The primary underwriting, reinsurance and claims operations within the Technical Division are backed by a capable, responsive Marketing and Business Development Division.

This Division always seeks to match our technical capabilities to the specific insurance requirements of each of our clients. We should also mention that all the company’s operations are fully automated, giving us an edge in speed and efficiency of response to clients’ needs.

We are kept on the straight-and-narrow financial path by our Finance Division that exercise prudent management of the company resources.


9. LEADWAY ASSURANCE COMPANY LIMITED

Leadway Assurance Company Limited was founded in 1970. It has a history of being a company with close attention to relationships, having started operations as a direct motor insurance company.


10. AFRICAN ALLIANCE INSURANCE COMPANY LTD

African Alliance Insurance Company Ltd. has been known in Nigeria over the years for its good reputation.


Source: https://play.google.com/store/apps/details?id=com.insurerance

Oga the best insurance company in Africa is AIIICO Period.