Insurance, in a simple language is simply a financial platform created to compensate the owner, an insurer against loss arising from a variety of risks, which he anticipates to his life, property and business.
In a developed country like USA, insurance forms an integral part of a man’s life. Here, virtually everything you do is attached to insurance and on the other hand, the companies are well managed and highly productive. It is an engine of protection against everyday risks to your health, home, education, business and financial misfortune.
In Nigeria for instance, this is often not the case. We have several insurance companies doing business of indemnifying an insurer against any loss. Sadly, as many as these insurance companies in Nigeria, not all of them are viable enough to qualify for doing business of an insurance company.
In this post, we shall bring you the top 10 most viable insurance companies in Nigeria, putting into consideration long years of experience in business, capital base, track records, testimonies and others.
The top 10 most viable insurance companies in Nigeria are:
- AIICO Insurance Plc.
AIICO insurance is one of the oldest and top 10 most viable insurance companies in the Nigerian Insurance Industry. The company was established in the year 1963 with strong capital base. Since its inception, AIICO has moved up the ladder of the insurance industry to be one of the top players.
The company focuses majorly on General Insurance, Life assurance, special risks, Health, Asset management, and pension management.
- Custodian Insurance Plc.
Custodian Insurance Plc is one of the leading Insurance companies in Nigeria. Its aim is to cover its customer’s innovative insurance products needs. This they believe will help guarantee customer’s satisfaction.
The company offers a wide range of insurance plans aimed at meeting all your needs.
- Consolidated Hallmark Insurance
Consolidated Hallmark Insurance is also one of the leading insurance companies and top 10 most viable companies in Nigeria. They have the determination to change the way people see insurance in Nigeria through the help of advanced technology and professionals they have acquired over the years.
Like other top insurance companies in Nigeria, Consolidated Hallmark has several good insurance plans tailored to meet your needs.
- Lead Way Insurance
Leadway Assurance is another good and leading insurance that made the list of top 10 most viable insurance companies in Nigeria. The company came into existence in the year 1970 and has since been very active in the insurance business.
The company has several insurance offers ranging from business, life, and pension insurance and allied financial services. This includes portfolio management, credit bond, and miscellaneous and financial losses.
- Cornerstone Insurance Plc.
Cornerstone Insurance is another insurance company that made the top 10 most viable insurance company in Nigeria. It came into being in 1991 as a private limited liability company. The company became a public limited liability in the year 1997.
The company is known to be dedicated and puts its customers’ needs first as far as doing business of insurance is concerned.
- Niger Insurance Plc.
Niger Insurance is a fully computerized insurance company and top 10 most viable insurance companies in Nigeria. The company majors generally in all classes of insurance and offer a wide range of customer-oriented and innovative services.
The company also has a highly experienced and competent management team that have really tread on the path of success over the years of its existence.
- NEM Insurance
NEM Insurance has had long years of existence with track records. The company started off in Nigeria as Edward Turner and co. and has since become one of the leading top 10 most viable insurance companies in Nigeria.
It has since 2007 merged with Vigilant Insurance Company to transact all forms of general insurance majorly basically in general insurance and special risks.
- Mutual Benefits Assurance Plc.
Mutual Assurance is also one of the big and leading insurance companies that made the list of top 10 most viable insurance companies in Nigeria. The company with staff strength of about 3,000 and a customer base of over 200,000 is dependable, with an interest in different sectors of the Nigerian economy.
- AXA Mansard Insurance
AXA Mansard belongs to the AXA Group. The company is rated one of the worldwide leaders in asset management and insurance with well over 160,000 employees.
The company is known to serve about 107 million clients in over 60 countries of the world.
- African Alliance Insurance Plc.
African Alliance Insurance Plc is another leading insurance that made the list of top 10 most viable insurance companies in Nigeria. It came into existence in the year 1960. The company has since its inception maintained a good reputation in the business of insurance focusing generally on insurance products like investment insurance plan, Annuity plan, Annuity Assurance, Group life assurance and others that are tailored to meet your needs.
In summary, insurance is a sure way to secure oneself, an insurer against eventual risks. We must make it a point of duty to insure our business, health, family, education and properties by counting on any of the top 10 insurance companies in Nigeria listed in this article to provide coverage.