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Top 5 Nigerian insurers according to turnover in 2019

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Magazine Issue: 
2021, a transitional year for insurers [3]
Magazine date: 
Feb 2021
Figures in thousands
RankCompagnies2019 turnover2018 turnover2018-2019 evolution *2019 shares
NGNUSDNGNUSD
1
Leadway Assurance
90 596 192248 23487 519 720239 8043.52%18.05%
2
AIICO Insurance
50 138 467137 37937 665 507103 20333.12%9.99%
3
Custodian & Allied 
47 203 260129 33736 722 146100 61928.54%9.40%
4
AXA Mansard Insurance
43 620 265119 52033 923 94992 95228.58%8.69%
5
Mutual Benefits Assurance
18 697 83951 23215 840 69743 40318.04%3.72%
Total top 5 companies250 256 023685 702211 672 019579 98118.23%49.85%
Rest of the market**251 785 977689 893214 538 911587 83717.36%50.15%
Total market502 042 0001 375 595426 210 9301 167 81817.79%100%

* Evolution in local currency
** 53 companies in 2018
Sources: NAICOM, Swiss Re and company reports

Exchange rate as at 31 December 2019 : 1 NGN = 0.00274 USD | as at 31 December 2018 : 1 NGN = 0.00274 USD

Read also | Insurance market in Nigeria [4]

nigeria
Mon, 15/02/2021 - 12:41

Source URL: https://www.atlas-mag.net/en/category/tags/compagnies/top-5-nigerian-insurers-2019

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[3] https://www.atlas-mag.net/en/issue/2021-a-transition-year-for-insurers
[4] https://www.atlas-mag.net/en/article/the-insurance-market-in-nigeria