The Nigerian insurance market is attracting many international players. Several South African insurers along with French Axa and Ivorian NSIA have showed up there .
The entry of these new players led to a competition that had been very poor and that is now particularly remarkable in corporate risks. New participants are targeting this market where supply has failed to meet demand in a satisfactory fashion.
In addition, market opportunities remain quite significant as the National Insurance Commission aims to increase insurance penetration rate in a market where the middle class is growing rapidly.