10 Best Insurance Companies in Nigeria

There are many insurance companies in the country and it would not be easy listing the best ten as there are many indices to use in drawing a conclusion as to which ones are the best. The best insurance companies must have the following features

They must be known to the public

No matter the name a company has made. Its better recognized in its industry. When you take about shoes, you remember Nike and timberland. When you talk about cars, you look for ford or Toyota. The same applies to the insurance industries. Any company known to the public when people are asking is still a reputable company.

They should have a track record

While I am not an insider in most of these companies, I have been fortunate to attend large organizations with thousands of employees where these insurance firms do business. You can always get subtle data as regarding the performance and record of insurance companies and with this sort out the best.

They must have testimonials

What do I mean by this? A testimony is also known as testimonials from satisfied customers. This testimonial gives anyone who is interested about the firm a knowledge of what to expect.

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Using the first criteria to choose the best insurance company in Nigeria, there are 16 insurance companies that meet the first criteria. Following the study conducted by GIZ, a German agency for development and Risk guard-Africa Limited. There are:

  • Aiico
  • Custodian Insurance plc.
  • Consolidated hallmark insurance
  • Lead way Insurance
  • IGI Insurance
  • Gold link Insurance
  • Niger Insurance plc.
  • NEM Insurance
  • Mutual Assurance plc
  • Staco Insurance plc
  • NICON
  • LASACO
  • Oasis
  • Mutual Benefits
  • Royal Exchange
  • Crusader

The report stated that other companies identified as underwriting firms include, Savana Insurance, Gateway insurance, Quality Insurance, Liberty Insurance.

Using criteria 2 – you would have to take a visit to each of this company or sign up with one of them. The ones I would vouch for are already listed but no special favour would be given to any as each customer experience differs.

Frankly, most of the insurance companies would pass criteria 2. I would rather move to the all-important three. Reason been that I have not tried all the insurance companies but there seem to be a lot of improvement going on in the industry.

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Using criteria three to determine the best insurance company in Nigeria

Testimonials are the lifeblood of any business aside adequate funding. If any business is going to succeed in the long run, then testimonials from satisfied customers are a must.

What do clients say about the insurance companies?

Some may say good other have their negatives but none is perfect. This criterion is meant to help your decision. You should not follow it if you don’t want. But I love getting to know more of what people have to say about this firms and their services.

Top 10 best insurance companies in Nigeria based on customer opinions

  • Aiico
  • Custodian insurance plc.
  • Consolidated hallmark insurance
  • Lead way Insurance
  • IGI Insurance
  • Niger Insurance plc.
  • Mutual Assurance plc
  • NICON
  • Oasis
  • Crusader

You may search for more information on each by Google. Hope you find this helpful.

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