Belongings don’t final indefinitely. They will solely help one throughout their utilization time period. Every thing in life has an expiration date. Nonetheless, strategies of extending sustenance have emerged, certainly one of which is insurance coverage. That is actually not information to the typical individual. A pricey vehicle may completely fail. Its harm could also be past restore, however whether it is insured, it might get replaced eventually. That’s precisely what insurance coverage does. Right here, we’ll see a evaluation of a number of the finest insurance coverage corporations in Nigeria.
Insurance coverage in Nigeria
Nigeria is a creating nation. She is studying and progressing via the levels of turning into an energetic member of the trendy world.
Whereas insurance coverage is a long-established act (2nd millennium earlier than Christ, Chinese language, Indian, and Babylonian commerce engaged in risk-distribution strategies), Nigeria started insurance coverage in 1958.
The preliminary insurance coverage companies in Nigeria had been primarily based on European fashions. The Royal Change Assurance Company is one instance.
Following Nigeria’s independence, European companies established Nigerian subsidiaries. Nonetheless, there was an issue with this improvement.
The income had been being transferred out of the nation and into the accounts of the European mother or father corporations. The Nigerian authorities acted shortly, supporting the institution of state-owned insurance coverage kinds.
This gave rise to the event of native non-public insurance coverage enterprises. The Nigerian authorities’s standardization of the insurance coverage enterprise resulted within the institution of The Nationwide Insurance coverage Fee in 1997.
Right this moment, we will confidently state that Nigeria has excelled within the area of insurance coverage. The data of the significance of securing all property has vastly benefited the nation and its sense of safety and accountability.
The nation’s infrastructure is less than par, but on a scale of provision and upkeep, it ranks third. Some areas of the nation profit from processing advances, which assist to offer inhabitants with a way of civilisation and order.
To call a number of, Lagos State/metropolis, Abuja FCT/metropolis, Port-Harcourt Capital/metropolis, Uyo Capital/metropolis, Calabar Capital/metropolis, Owerri Capital/metropolis, and others are identified for his or her infrastructural developments and civilisational efforts.
Insurance coverage is likely one of the luxuries that’s simply accessible. One ought to consistently attempt to have their valuables and even their kin lined. Insurance coverage protects every part, even people.
Greatest Insurance coverage Corporations in Nigeria
The next is an inventory of insurance coverage corporations in Nigeria, together with their providers and places:
#1. AIICO Insurance coverage Plc
That is positioned in Apapa Oshodi Expressway, 203-205, Oshodi Isolo Lagos. It’s considered the highest insurance coverage agency in each the state and the nation.
#2. Leadway Assurance
The handle is 121/123 Funso Williams Avenue, Iponri, Lagos. [email protected] is the e-mail handle. Other than having a extremely interesting commercial, Leadway is called a reliable insurance coverage agency.
#3. Anchor Insurance coverage Firm
It’s located on Ayo Jagun Avenue, Block 5A, Lekki Part 1. Lagos, Ajah. This firm provides building insurance policies.
#4. Custodian
It’s located in 16A Business Avenue, Sabo, Yaba, Lagos. This firm provides protection that cowl each enterprise and well being points.
#5. Cornerstone
It’s positioned at 21 Water Company Drive, Victoria Island, Lagos. It’s considered the primary insurance coverage agency to offer clients with on-line entry to insurance coverage transactions.
#6. Heirs Insurance coverage Restricted
Heirs Insurance coverage Restricted is a digital common insurance coverage agency that challenges conventional insurance coverage by offering easy and accessible safety for vehicles, houses, companies, and different property.
Her Motor, a bespoke product for ladies, was additionally lately launched by the corporate.
Her automobile Insurance coverage Plan is a low-cost, all-inclusive automobile insurance coverage coverage that gives protection and help for car technical breakdowns.
The bundle additionally consists of all-day protection for vehicles towards street accidents, theft, and hearth.
#7. African Alliance Insurance coverage Plc
Suite 6B, White Home Plaza 79, Adetokunbo Ademola Crescent, Wuse 2, Abuja FCT Nigeria. This group is understood for providing life, funding, and annuity insurance policies, amongst different issues.
#8. Allianz Insurance coverage
That is in 3, Port Harcourt Crescent, Space 11, Garki 2, Abuja. This firm provides private insurance coverage akin to life, financial savings, and so forth.
#9. Anchor Insurance coverage
That is positioned on the state liaison workplace in Akwa Ibom. Plot 816, Ahmadu Bello Approach, Central Space, Abuja, Federal Capital Territory of Nigeria. This company supplies safety providers for houses, companies, ships, and cargo.
#10. Chrome Insurance coverage Restricted
This enterprise might be discovered at No. 22 Lobito Crescent, Wuse 2, Abuja, FCT, Nigeria. This company provides a wide range of providers akin to biofuels vitality era, actual property, logistics, and so forth.
#11. Consolidated Hallmark Assurance
It’s located at Metro Plaza, Annex B, Plot 991/992, Zakariya Maimalari Avenue, Central Enterprise District, Abuja FCT Nigeria.
Consolidated Hallmark Insurance coverage Plc is likely one of the most well-known common insurance coverage companies in Nigeria, offering dangers and insurance coverage.
#12. Ark Insurance coverage Brokers
It’s at 20 Daniel Kalio Avenue, beforehand Ohaeto Avenue, D/line, Port Harcourt, Rivers State, Nigeria. Ark Insurance coverage Brokers is an insurance coverage agency that provides threat evaluation, administration, broking, life insurance coverage, and different providers.
#13. Fin Insurance coverage Firm Restricted
Fin Insurance coverage Firm is located on Plot 180 Aba Street in Port Harcourt, Rivers State, Nigeria. This insurance coverage agency is licensed to conduct common insurance coverage contracts and transactions for individuals and companies.
#14. Nice Nigeria Insurance coverage Plc
The handle is Plot 19, Stadium Street, Riz Plaza, Port Harcourt, Rivers State, Nigeria. Nice Nigeria Insurance coverage is a know-how cowl supplier that charges among the many biggest insurance coverage corporations in Nigeria.
#15. Guinea Insurance coverage Plc
Guinea Insurance coverage might be discovered at 174 Aba Expressway in Port Harcourt, Rivers State, Nigeria. The corporate provides providers that goal for worldwide requirements in areas akin to hearth and common accidents, amongst different issues.
#16. Industrial and Normal Insurance coverage
That is at 2 Ikwere Street, Port Harcourt, Rivers State, Nigeria. It’s an industrial, life, and common insurance coverage department service heart.
Pensions and particular threat providers are additionally lined.
#17. Linkage Insurance coverage
Linkage Insurance coverage might be discovered at 22 Wellington Basset Approach in Uyo, Akwa Ibom State, Nigeria. The corporate is the market chief by way of enterprise protection.
#18. Niger Insurance coverage
This can be discovered at 17, Udo Umana Avenue, off Oron, Uyo, Akwa Ibom State, Nigeria. Niger Insurance coverage Plc is the market chief within the provision of a various vary of life and non-life insurance coverage providers.
#19. Roseat Insurance coverage
That is at 11 Nyong Essien Avenue in Uyo, Akwa Ibom, Nigeria.
#20. Pentacle Insurance coverage Brokers
The handle of Pentacle Insurance coverage Brokers is 182, F line, Ewet housing, Uyo, Akwa Ibom Nigeria.
#21. Regulation and Union Rock Insurance coverage Plc
That is positioned at 164 Oron Street, Uyo, Akwa Ibom State, Nigeria.
#22. Staco Insurance coverage
That is positioned at 174 Ikotekpene Street, Uyo, Akwa Ibom State, Nigeria.
#23. Mansard Insurance coverage
This enterprise is positioned at 26 Aka Street, Uyo, Akwa Ibom, Nigeria.
#24. NEM Insurance coverage Plc
The handle is 26 Etta-Agbor street, Calabar, Cross River Nigeria. This firm provides each life and non-life insurance coverage. It’s a brokerage agency for insurance coverage.
#25. Royal Change Assurance Plc
This enterprise might be discovered at 103 Ndidem Usang Street, Calabar, Cross River State, Nigeria. Royal Change Assurance Plc supplies cash guard, housebreaking safety, and different providers.
#26. Intentional Power Insurance coverage Plc
The handle is Plot 38, First Flooring, MCC Street, Calabar, Cross River State, Nigeria. Worldwide Power Insurance coverage specializes on vitality sector insurance coverage.
It provides options for each offshore and onshore dangers, in addition to common insurance coverage.
#27. Hogg Robinson Nigeria Restricted
It’s positioned at 111 Ndidem Iso Street, Calabar, Cross River State, Nigeria. The Nationwide Insurance coverage Fee has licensed Hogg Robinson Nigeria Restricted to carry out monetary providers akin to evaluation, quantification, and so forth.
#28. Capital Categorical Assurance Restricted
Capital Categorical Assurance might be discovered at 3 Basset Duke Avenue, close to Chamly Junction in Calabar, Cross River State, Nigeria.
It is a monetary providers firm that gives group and particular person life insurance coverage.
#29. FBN Insurance coverage Restricted
That is at 14 Orlu Street in Owerri, Imo State, Nigeria. It is a life insurance coverage agency that gives protection to industrial and company purchasers via life, group, and welfare assurance, amongst different merchandise.
#30. Mutual Advantages Assurance Plc
This can be discovered at 6 Wetheral Street, Owerri, Imo State, Nigeria. Mutual Advantages Assurance Plc supplies protection for all times insurance coverage, marine insurance coverage, motor insurance coverage, and different merchandise.
#31. Nicon Insurance coverage Restricted
Nicon is positioned at 43 Okigwe Street, Owerri, Imo State, Nigeria. The corporate supplies third-party motor insurance coverage, journey insurance coverage, and different providers.
#32. Regency Alliance Insurance coverage
This can be discovered at 63 Wetheral Street, Owerri, Imo State, Nigeria.
Regency Alliance Insurance coverage supplies threat administration, medical insurance coverage, and different providers.
#33. Commonplace Alliance Insurance coverage Plc
This handle is 134 Wetheral Street, Owerri, Imo State, Nigeria. Commonplace Alliance Insurance coverage is devoted to offering the very best funding and insurance coverage providers in Nigeria and all through Africa.
Prime Well being Insurance coverage Corporations in Nigeria
Well being is a type of riches. We dwell in a world the place nearly all of your choices have an effect in your well being.
You’re already conscious of the standing of Nigeria’s health-care system. For instance, suppose it’s essential to do surgical procedure as shortly as possible. Contemplate not having sufficient cash to cowl the price of the operation. It is a compelling argument to acquire medical insurance.
The highest medical insurance corporations in Nigeria are as follows:
#1. AXA Mansard Well being Insurance coverage
AXA Mansard is likely one of the main corporations in Nigeria that provides a number of kinds of medical insurance. They provide in depth entry to over 400 well being suppliers throughout Nigeria. They embody hospitals, dental clinics, and eye clinics. Additionally, additionally they supply HMO plans and particular person plans for households.
#2. LeadWay Well being Insurance coverage
Leadway’s well being care insurance coverage protection is managed by an Affiliate agency known as Whole Well being Belief Restricted. They supply three completely different choices: silver, gold, and platinum.
#3. Clearline Well being Insurance coverage
They supply healthcare plans to people, teams, companies, and the governmental sector in Nigeria.
In Nigeria, the corporate supplies many varieties of medical insurance. They’re as follows:
- Enterprise Well being Plan: For enterprise personnel, this medical insurance coverage covers frequent illnesses and medical procedures.
- Household Well being Plan: Members of this plan get entry to healthcare at any of their most well-liked suppliers in Nigeria.
- Particular person Well being Plan: This selection is for individuals who don’t have any pre-existing medical points.
#4. Hygeia Well being Insurance coverage
Hygeia HMO is certainly one of Nigeria’s most respected non-public medical insurance corporations. Particular person Plans, Household Plans, Senior Residents Plans, Pregnant Girls Plans, SME Plans, and Fitness center & Spa Plans are amongst their choices.
#5. HCI Well being Insurance coverage
The Nationwide Well being Insurance coverage Scheme (NHIS) has granted HCI Healthcare a license. They supply high-quality, low-cost well being care to Nigerians of all socioeconomic backgrounds.
Their medical insurance plans embody the next:
- Retail Well being Insurance coverage Plan: This plan supplies protection for people and households who require entry to high-quality, low-cost healthcare providers. Moreover, the bundle within reason priced.
- Company Well being Insurance coverage Plan: This plan is designed for workers of small to medium-sized companies.
- College Well being Insurance coverage Plan: This covers college students in any respect ranges of training’s well being wants.
- Senior Residents Well being Insurance coverage Plan: This plan is for individuals over the age of 60.
- Casual Sector Well being Insurance coverage Plan: This plan covers the well being necessities of people and organizations in casual sectors akin to artisans, markets, golf equipment, teams, and communities.
- Worldwide Well being Insurance coverage Plan: This medical insurance plan supplies protection for each emergency and non-emergency circumstances in over 100 international locations all through the world.
How Many Insurance coverage Corporations Are in Nigeria?
In response to NAICOM, Nigeria now has 58 insurance coverage corporations which might be divided into life and common insurance coverage companies.
What’s the First Insurance coverage Firm in Nigeria?
The Royal Change Assurance Company formally turned the oldest insurance coverage firm in Nigerian historical past.
What are the Most important Features of an Insurance coverage Firm?
The first operate of insurance coverage is to get rid of the uncertainty of a sudden and surprising monetary loss. That is certainly one of an organization’s principal issues. It replaces this uncertainty with the knowledge of standard cost, i.e. the premium to be paid.
Who Based Insurance coverage?
The primary life insurance policy had been bought within the early 1800s. The Amicable Society for a Perpetual Assurance Workplace, based in London in 1706 by William Talbot and Sir Thomas Allen, was the primary to supply life insurance coverage.
How A lot Is Insurance coverage Wage in Nigeria?
Folks working in insurance coverage in Nigeria sometimes earn between 80,392 NGN (lowest earnings) and 328,573 NGN (highest common, precise most compensation is larger). The full month-to-month compensation, together with bonuses, is proven beneath.
In Conclusion,
Having a property insured doesn’t indicate that an individual is anticipating the worst to occur.
A dwelling, respiratory, energetic particular person should at all times have a backup plan. It’s at all times useful to have a backup plan, particularly when calamity is imminent. Disasters happen extra incessantly than not, and this could encourage everybody to guard themselves in no matter method they’ll.
It makes no distinction how a lot an individual has executed in the event that they don’t have anything to point out for his or her efforts.
Many individuals would reasonably spend money on extra properties. They don’t take into consideration what may go improper in the event that they possess loads of houses with out safety. Searching for cash is just not a foul concept in and of itself. Nonetheless, a backup plan have to be developed. Safeguard what you personal, and safeguard what you don’t personal but. Life is a methodical course of, and people ought to take one step at a time; there isn’t a have to rush.
Other than safeguarding property, people must also make efforts to safe individuals, notably members of the family. If a tragic disaster happens, the one tears shed will likely be these of a liked one who has died. It could not be resulting from issues a few blemished future.
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