This is a detailed guide on the top 10 best insurance companies in Nigeria.

Are you insured against unexpected tragedies?

Your wealth and properties can be protected from abrupt difficulties and meltdowns.

But a trusted insurance policy is the key.

If you are in need of a reputable insurance company, here is the answer you seek.

In this post, I will show you the top 10 best insurance companies in Nigeria.

But before then, shall we talk briefly about insurance and its essence first?

What is Insurance?

Insurance is the noun form of the word ‘insure’.

And insure is defined by the Merriam-Webster dictionary as a process of “making certain especially by taking necessary measures and precautions”.

Insurance is an arrangement whereby an organization or the state agrees to provide a guarantee of compensating an individual for a specific loss, damage, illness, or death in exchange for the payment of a specific premium.

What does this imply?

What are we making certain?

To insure means to make certain that loss of assets, wealth, and personal belongings is brought to the minimum irrespective of any disaster that could bring a downturn.

Why Should We Insure?

You should have a grasp of this by now.

Nevertheless, when you have an insurance policy probably with any firm, you stand to enjoy compensations when there is damage to any of your insured properties or when you lose such properties.

So the major reason for insurance is to be under assured protection against unforeseen misfortunes.

When a car is involved in an auto-crash for example, sometimes the vehicle may be so damaged beyond repair or it may require a huge capital to replace such vehicles.

But if such vehicle is insured, the cost would be taken care of either partially or totally (depending on the policy plan) by the insurance agent or company.

How To Benefit From Insurance Companies.

You don’t wait till there is a problem before signing up for an insurance policy.

So you can access insurance benefits by registering with trusted companies all over the nation.

This way you will be making a pre-arrangement ahead of the unimaginable.

10 Best Insurance Companies In Nigeria.

In Nigeria, there are a number of top insurance companies that can help individuals to safeguard and secure their properties from future misfortunes.

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There are the competent ones and some that can’t be too trusted as we have in every sector.

Recognizing the best one for you now requires you to consider a few factors such as the image and reputation of the company, their legal accreditation by the government of the land, their prices, and their financial strength.

Of course you’ll also need to check if a company you may want to choose has enough coverage for your area of interest.

But the most important is their credibility.

The top ten best insurance companies in Nigeria follow hereafter.

Note that the list is not in any order.

1. Consolidated Hallmark Insurance

Consolidate Hallmark Insurance is a leading insurance companies in Nigeria that is trusted and efficient in carrying out their insuring responsibilities.

Although ranked tenth on this list, consolidated Hallmark offers satisfactory services to its customers.

They have various types of Insurance such as

  • motor insurance
  • gadget insurance
  • home insurance
  • business insurance.

Consolidated Hallmark Insurance has a very high profile. They are technology-driven and customer-oriented.

You will surely be pleased with how well they will serve you.

The company is located at No 266, Moshood Abiola Way, Obanikoro, Lagos state.

Click here for more info.

2.  Lasaco Assurance Plc

Lasaco Assurance Plc was known initially as Lagos State Assurance Company Limited.

It began its insurance policy as Lasaco in August 1980, and it is currently one of the top insurance companies in Nigeria.

The insurance policies they offer include:

  • 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

Click here for more info.

3. Goldlink Insurance PLC

Goldlink Insurance PLC is an insurance company that began in April 1992 as a Private Limited Liability Company.

15 years later, it was converted to a Public Liability Company. And that was in May 2007.

Goldlink Insurance Plc is also licensed to render both Life and General insurance services, it is also one of the best insurance companies in Nigeria.

A broader list of their services and plans includes:

  • Engineering Insurance
  • General Accident plan
  • Individual Life Insurance plan
  • Reinsurance plan
  • Oil & Gas plan
  • Marine & Aviation plan
  • Motor Insurance plan
  • Liability Policies plan
  • Group Life Insurance plan
  • School Safety plan
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Goldlink Insurance PLC is a highly capitalized insurance company in Nigeria.

Click here for more info.

4. African Alliance Insurance PLC

African Alliance Insurance plc is one of the best insurance companies in Nigeria and this company was incorporated in May 1960.

African Alliance Insurance PLC has a very good reputation for how efficient and trustworthy they are in Life Assurance.

Their insurance service is personalized and their products are tailored towards each stage of their clients’ lives.

They offer the following policies:

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

Click here for more info.

Also See: Top 10 Best Car Insurance Companies In Nigeria

5. Mutual Benefits Assurance PLC

This is another functional insurance company that started operation in April 1995.

Mutual Benefits Assurance PLC is a notable and reliable insurance company in the country.

The company have wide range of insurance products that includes motor, marine, fire & perils, travel e.t.c.

Moreover, the company offers insurance strategy services like:

  • General Insurance
  • Life insurance
  • Fire and Burglary insurance
  • Personal Accident

The company has grown to become a main brand in the country.

Click here for more info.

6. Custodian and Allied Insurance

Custodian and Allied Insurance began over 20 years ago, precisely August 1997.

Custodian and Allied insurance company from their years of operation has experience and always deal well with customers in providing a wide range of insurance plans the customers can choose from.

Some of the investment policy they offer are listed as follows:

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

7. AXA Mansard Insurance

AXA is a group of companies that is well ranked in insurance and asset management.

This group is a big gun when we talk of insurance.

They serve over 107 million customers in over 60 countries.

AXA Mansard Insurance is an affiliate company of the AXA group. And they offer the following policies:

  • Life savings plan
  • Instant plan
  • Health plan
  • Retirement savings plan
  • General ( business/ tourism) protection plan
  • Student protection plan
  • Autoflex plan
  • Equity income plan
  • Auto classic plan
  • Money market plan
  • Easy care plan
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Click here for more info.

8. Cornerstone Insurance plc

Cornerstone Insurance PLC began as a Private limited liability but was eventually consolidated in the year 1991 to become a Public Limited Liability.

Cornerstone is authorized by the National Insurance Commission (NAICOM) carry out General and Life Insurance policies.

Cornerstone Insurance is a dedicated organisation that puts their client’s interest first and  also creating solutions to meet the various needs of each client.

The Insurance policies they offer include:

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

Click here for more info.

9. Leadway Assurance PLC

Leadway Assurance PLC is not just ranked second on this list for no reason but for their effective operations since inception. They are very active online, across various social media channels and have computerised most of their operations to boost effectiveness.

They offer the following policies:

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

Click here for more info.


AIICO is an acronym for American International Insurance Company.

The company is an agency representing American Life Insurance.

AIICO has the objective of offering life assurance and annuity, general insurance, health insurance, pension management, property insurance, E-insurance, Education plan, Mortgage protection plans all on the highest level of Operation.

Visit AIICO at:

Plot PC 12, Church Gate Street, Victoria Island, Lagos.

Click here for more info.

That would be all of the top best insurance companies in Nigeria.

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