Best Insurance Companies 2023 – Insurance means protecting oneself against financial loss, in case there is a breakdown of events such as fire outbreaks, car accidents, motorcycle accidents, health disasters, and other forms of natural disasters that may deprecate your finances.
Insurance is usually a contract between the issuer or company and the beneficiary or individual. The insurance company compensates the individual in case there is a loss of valuable assets. The company bears the risk, while the individual in most cases smiles at the bank.
There are basically four types of insurance schemes which include: Home, Motor, Travel & Health insurance; they are explained below:
Home insurance: Since a home is an important asset for us, it is advised to Insure our home in case of fire outbreak, bugle, or demolition. You can insure your home with a proper home insurance policy as agreed upon by the insurance company.
Motor Insurance: This provides coverage against loss or damage, when you apply for a car insurance policy you will be able to get your car back in full condition even if there is a loss or damage.
Travel Insurance: Travel insurance covers damages such as loss of baggage, trip cancellation, or delays in flight. The travel insurance also covers hospital bills in case one is hospitalized during traveling.
Health Insurance: Health insurance covers hospital bills and any emergency health emergency issues.
On this note, we have listed the best top ten insurance companies in Nigeria in 2023 and their portfolios.
Below are the complete lists of the top 10 best insurance companies in Nigeria.
Top 10 Best Insurance Companies in Nigeria 2023
Leadway insurance company
Leadway insurance is one of the best Insurance companies as of 2023 in Nigeria. The company started way back in 1970 and has so far earned a reputation, honesty, and integrity. The company has proven to maintain a competitive advantage by showcasing its outstanding customer experience service and work efficiency.
Over the years, Leadway Insurance Company has built an effective ecosystem that has provided prompt settlement and innovative services to its customers.
Leadway Assurance offers 3 types of insurance policies; which include personal insurance, business insurance, and auto insurance.
Leadway Personal insurance allows you to enjoy financial security no matter what life throws at you, your loved ones, or cherished possessions. They include General Insurance, Health & Life, Savings & Investments, Annuities & Pension, Travel Insurance, and Property Insurance.
Also, the Leadway Assurance drives and insures your automobiles. Enjoy a hassle-free bouquet of auto insurance products specially crafted to meet your insurance needs which include Comprehensive, Third Party (Scratch Card), and Third Party (Auto Base).
Leadway Insurance business also protects businesses from losses due to events that may occur during the normal course of your business(es). They provide services for Marine Insurance, Accident Policies, SME Insurance, and Property Insurance. Visit Leadway Insurance Official Website.
Stanbic IBTC Insurance
Stanbic IBTC Insurance is one of the most reputable insurance companies in Nigeria, they have shown team dedication and mastered the creativity of Insurance brokers, and the company has created a good working atmosphere with outstanding work ethics and employees from different fields of study. Stanbic IBTC insurance has been in existence for more than 20 years and has provided an assurance product that provides prospective placeholders with an insurance policy.
When you talk about Insurance, you talk about Stanbic IBTC, working hard to get what you have now isn’t an easy job that and you need to ensure it is protected in the event that any unfortunate happens. Stanbic IBTC will help you equip and tailor your needs and circumstances.
Some of the benefits you get from Stanbic IBTC Insurance include Affordability, Flexibility, Track Record, and Innovation.
Stanbic IBTC has the following insurance policies: Educational Trust Insurance Policy, Variable Life Insurance Policy, Home Owners Insurance Policy, and Whole life insurance policy. To find out more and how to get started with Stanbic IBTC Insurance Policy, kindly visit the official website to learn more.
Prudential Zenith Insurance
Prudential Zenith Insurance is among the top 10 best insurance companies in Nigeria, the company offers insurance policies tailored for the Nigerian family of any stature and caliber.
The company was acquired by Zenith Life Assurance which later gave rise to a new company name called Prudential Zenith Insurance, According to Prudential Zenith Insurance’s vision and mission statement, they are out to touch lives and provide access to life insurance to everyone and also give peace of mind to the individual while helping them plan for a better and brighter future.
Some of their core values include being curious, nimble, courageous, ambitious, and empathetic. The company is headed by Chuks Igumbor who is now the Managing Director and Chief Executive Officer with other distinguished persons with world-class experience in insurance and business management.
Prudential Zenith Insurance offers insurance policies to individuals and corporate organizations.
You can find more information regarding the Prudential Zenith Insurance policy and how to get started by visiting the official website to learn more.
Axamansard Insurance is a member of AXA Group, the leading worldwide insurance and asset management agency with over 166,000 employees serving more than 100 million clients in 64 countries.
Axamansard Insurance is also available in Gabon, Ivory Coast, Senegal, Morocco, Algeria, and Cameroon and has been serving for over 20 years.
Axamansard Insurance has received multiple rewards over the years, in 2011 they were awarded Brand Excellence in Insurance, in 2012 they received One of the Best Companies to Work for in Nigeria, and Insurance Brand of the year.
As of 2013, they emerged the overall winner in the Insurance and pension organizational award and Best Corporate Stewardship Award for Outstanding Work in CSR and creating Share value In 2017, they also received the Most innovative Insurance Company of the year.
Axamansard Insurance’s corporate head office is at Santa Clara Court, Plot 1412 Ahmadu Bello Way, Victoria Island, Lagos, Nigeria. They have mastered innovative skills and have proven consistent and exceptional service to stakeholders.
Axamansard Insurance offers life insurance, motor insurance, travel insurance, and other forms of insurance policy. Axamansard is a leading provider of life and non-life insurance products and services.
You can learn more about Axamansard Insurance via the official website.
AIICO Insurance Company
AIICO Insurance Company is a leading industry Insurance Company with over 50 years of insurance policy management. The company was established in 1963 and has proven work ethics and outstanding performance with exceptional customer experience.
AIICO Insurance Company specializes in Life assurance and annuity, Health insurance, Asset Management, and General insurance. One of the company’s goals is to be the leading insurance company in Nigeria that provides life insurance and retirement service pension.
AIICO Insurance offers insurance policies to both individual and corporate bodies. Individual Policy plans include Annuity plans, Auto Insurance plans, Endowment plans, Investment plans, Life plans, Personal Accident plans, Travel Insurance plans, and Pure Risk Plans. The corporate policy includes Marine Insurance, Manufacturing Insurance, Oil and Gas, and Agric. Insurance and General Business Plan.
AIICO Insurance is headed by Kundan Sainani, who is the chairman, and Babatunde Fajemirokun as the Chief Executive officer with other outstanding board of directors who has put it into their heart to deliver the best optimum Insurance services to Africa. You can learn more about AIIC Insurance Company via the official website.
STACO Insurance Company
Staco Insurance was founded in July 1994, they are poised to be a world-class provider of insurance and other financial services. Because of its outstanding performance, STACO Insurance received 3 awards in 2018 for INSURANCE COMPANY OF THE YEAR (THISDAY AWARDS, 2008, INSURANCE COMPANY OF THE YEAR (GLOBAL EXCELLENCE AWARD, 2008) and INSURANCE COMPANY OF THE YEAR (IKEJA CITY AWARDS, 2008.
They have reputable and good customer services that work really hard to satisfy customers from any part of the nation. Thinking of securing your future? You can start with STACO Insurance Company and you will never regret what you did.
Staco Insurance offers services in the following areas; ACCIDENT: Fidelity Guarantee Professional Indemnity, Goods-In-Transit, Employer Liability, Burglary, Public Liability, Group/Personal Accident TRANSPORTATION: Motor Marine, Hull & Cargo Aviation, FIRE & BOND: Fire & Special Perils, House Owner/Holder, All Risks Engineering Bond, ENERGY & SPECIAL RISKS: Oil & Gas Pollution and Liability.
Find out more about Staco Insurance Company via the official website
ARM Life Insurance Company
ARM Life Insurance Company which offers financial services which include life insurance policies, pensions, educational policies, mortgage,s and retirement plans, was founded in 1983.
ARM asset management and best practices have shown that they play a major role in the life of investors by providing a solid foundation for brand ideas.
They offer services to private sectors, public sector organizations, and public and individuals in retail and high-worth individuals. AMR specializes in Private Wealth Management, Institutional Asset Management, Retail Asset Management (Mutual Funds), and Alternative Investments.
Visit the official website to find an investment plan and more opportunities to explore, you will just be on your way to saving your future and that of your family.
FBN Insurance Company
FBN Insurance Limited is managed by First Bank Nigeria Plc which is licensed to transact life insurance businesses in Nigeria. The company is a member of Sanlam Group, a leading financial group in Africa, it officially commenced its operation on 1st September 2021.
Adenrele Kehinde is the Chairman of FBN Insurance and is also headed by other members of the board of directors with smart and experienced employees trained to provide too notch services to stakeholders.
FBN Insurance provides coverage for both individual and corporate clients.
FBN is the newest and youngest insurance company at the time of writing a post. Its core vision is to be the first-choice insurer in financial security and a wealth creator in Nigeria.
According to FBN, the company is created to safeguard individual assets while delivering value to all stakeholders. Its core values include respect, integrity, innovation, sustainability, and customer-centricity.
FBN Insurance offers a policy on Credit Life Assurance Plan, Group Welfare Plan, Group Life Assurance Plan, KeyMan Assurance Plan, Mortgage Protection Plan, SmartHealth International Plan, Term Assurance Plan, Tuition Protection Plan, and Welfare Protection Assurance Plan.
Find out more about FBN Insurance via the official website.
NICON Insurance Company
NICON Insurance Limited was founded in 1969, formally owned by the Federal Government of Nigeria, and later privatized in December 2005. NICON has 40 branches and six regional offices including offices in Sao Tome and Principe and Central London.
NICON Insurance is widely known and poised to be the most populous Insurance Company in Nigeria because of its widespread offices in the 36 states of the federal and the Federal Capital territory.
Its core values include work ethics, excellent service, professionalism, customers-focus, innovation, and integrity. NICON Insurance has coverage on travel insurance, burglary private dwelling, motor third party insurance, and target savings insurance.
You can find out more about NICON insurance by visiting the official website.
Prestige Assurance Insurance Company
Prestige Assurance is one of Nigeria’s leading financial and insurance companies and offices nationwide, with 65 years of top-notch and excellent service. The company is led by Mr. Sarbeswar Sahool an Indian citizen who is now the Managing Director and Chief Executive Officer. They are other board members who have taken it upon themselves to deliver the best services to stakeholders and ensure clients’ satisfaction is met at all times.
Its core values include professionalism, reliability, empathy, service, transparency, innovation, goal-oriented, and excellence.
Services Offered by Prestige Assurance Plc include
- Prestige Salary Protection Shield (PSPS)
- Prestige Mediclaim Policy
- Motor (Automobile)
- Group Personal Accident
- Money Policy
- Householder Policy
- Personal Accident Policy
- All Risks
- Burglary (BP)
- Other Personal Insurance
- ICA Mediclaim Offer
- Overseas Mediclaim (Travel Insurance)
- PRESTIGE DEVICE INSURANCE
If you are looking for where to begin to secure your future and have coverage over your life and property, Prestige Assurance is a place to begin. Find out more about their services and workflow via the official website.
Above is a list of the Best Insurance Companies in Nigeria in 2023, you can choose from any of the stated lists above to help you cover for loss or damage that may arise in case of accident or death. Find the right Insurance company that best suits your needs.