Examples Of Insurance Companies In Nigeria

This is a world wide list of government owned companies this list can be considered as non exhaustive because of lack of space and time.

Examples of insurance companies in nigeria. Private ownership of insurance companies in nigeria. The public quoted composite insurance company presently operates with an asset base in excess of n21 billion and a fully paid up share capital of n2 868 307 000. As of 2015 nigeria is the world s 20th largest economy worth more than 500 billion and 1 trillion in terms of nominal gdp and purchasing power parity respectively. Fire and perils insurance professional indemnity insurance public liability insurance and so on.

28 source insurance brokers limited. The national insurance corporation of nigeria nicon was established in 1969 as a ploy by the nigerian government to check the operators of insurance business. Nigeria deposit insurance corporation ndic. In the early 90 s the african and nigerian economy faced opposing trend.

Using criteria three to determine the best insurance company in nigeria. Nigeria is a federal republic in west africa bordering benin in the west chad and cameroon in the east and niger in the north. Under the pressure of the world bank insurance markets began to move towards liberalization. Aiico insurance is one of the well recognised insurance companies in nigeria.

Life insurance companies are companies that help insure people s money and properties from unforeseen events. Currently aiico is the 2nd largest insurance company in nigeria. In the 1980s the number of insurance companies had increased to over 100 as some reinsurance companies were. Saham unitrust insurance nigeria limited offers a wide range of insurance services which includes but is not limited to motor and money insurance insurance bonds aviation and marine insurance burglary insurance fire and special perils insurance.

In addition the outfit also focuses on general and special risks life assurance annuity and health insurance as well. 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. Frankly most of the insurance companies would pass criteria 2. Since nobody can predict the future insurance helps and serve as a guard for individuals and their companies against inevitable hazards.

Shepherds insurance brokers sib nigeria is a company of insurance brokers who cover the following insurance services. The company started in 1963 as a pension and asset management group. For example as of october 2019 china alone has more than 350 individual entries in its government owned companies of china category page. In nigeria there are many life insurance companies that individuals can apply and secure their money and properties.

The paragraph that follows was paraphrased from a 1996 gao report which investigated only the 20th century american. It overtook south africa to become africa s largest economy in 2014.