Home Insurance Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services 
Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services 

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services 

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services

It is not enough to just choose an issuance agency while seeking coverage for your life or properties. Careful considerations must be made to ensure you are actually getting insurance and not extra problems, especially in a nation like Nigeria.

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But you don’t have to worry. I have done the work for you. In this article, I have listed the top 7 best insurance agencies in Nigeria which provide the best services. Before listing them, here are the 5 factors to consider when choosing an insurance agency.

How To Know A Good Insurance Agency In Nigeria 


1. Accreditation 

This is the foremost and most important factor to consider when choosing an insurance agency in Nigeria. They must be accredited by the government of Nigeria. Any insurance agency that is not accredited, can just fold up at any time and there is only so much you can do in getting your money back which will most likely not yield.

2. Quality, and Diversity of Services 

While there are insurance agencies in Nigeria that focus on just a single insurance plan e.g Life Assurance, a good insurance company should be able to cater to all your needs so you don’t have to keep monitoring your portfolios across several agencies.

3. Great Company History 

Time reveals everything. If an insurance agency is good, offers the best services, and delivers on its promises, it will remain in business for long. So checking the history of an insurance agency and how satisfied their past and present customers are, is the third metric to use in selecting this list of best insurance agencies in Nigeria.


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4. Financial stability 

Being a financial institution, your chosen insurance agency must have financial stability else your money is not safe. They must have a track record of constantly providing customers’ money once requests are made. If that is not available, the entire idea of having an insurance plan is defeated.

5. Good Customer Support 

Another index to consider when choosing the best insurance agency in Nigeria is their customer support strength. They must be able to answer customer complaints and provide clarifications as soon as possible without customers having to go through rigorous bottlenecks or waiting for long hours.

All the insurance companies listed below satisfy these requirements and include other special advantages which I will be identifying below.

The Top 7 Best Insurance Agencies in Nigeria 2022


  1. AIICO Insurance
  2. Leadway Assurance
  3. AXA Mansard Insurance
  4. Custodian and Allied Insurance
  5. Consolidated Hallmark Insurance
  6. Cornerstone Insurance
  7. LASACO Assurance PLC

1. AIICO Insurance

Established in 1963, AIICO (meaning American International Insurance Company) has built a great reputation for itself in the Nigerian insurance industry. For decades, they have powered the employee insurance plans of many top companies in Nigeria some of which are 7up Bottling Company, Julius Berger, and Baker Hughes. As of 2020, AIICO  paid over ₦39.7 billion in insurance claims to different clients.


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By providing life insurance, retirement services, risk underwriting, and other related services to a sizable and diverse clientele made up of Nigerian businesses, financial institutions, governments, and private citizens, AIICO aims to become the preferred insurer and the top insurance provider in Nigeria. 

AIICO majors are four insurance policies which are:

  • Life assurance and annuity
  • General insurance and special risks
  • Health insurance, and
  • Asset management.

You can visit AIICO’s website for more details.

2. Leadway Assurance 

Second, on our list of the best insurance agencies in Nigeria is Leadway Assurance. Leadway is another big player in the insurance industry that has been in existence since 1970. They have built their reputation on integrity, offering prompt claims payment and providing innovative service.

Leadway is big on clients’ convenience which is evident through their prioritizing of online services. The Leadway Assurance website and mobile app are fully customised to assist any person set up an insurance plan without hassle.


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Despite economic conditions brought on by the COVID 19 epidemic and other unfavorable economic consequences, the company paid its policyholders ₦43.5 billion in 2020, continuing to hold the industry record for the greatest annual claims payment year over year.

The insurance services offered by Leadway Assurance include:

  • Personal insurance
  • Business insurance
  • Asset management, and
  • Retirement annuity.

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services 

3. AXA Mansard Insurance 

The third best insurance agency in Nigeria is AXA Mansard Insurance. Established in 1989, AXA Mansard has served thousands of Nigerian families and businesses with diversified insurance plans.  She has built her reputation on stability. Owning several other financial business portfolios, AXA Mansard’s financial records are mostly on the greens and this gives customers security.

Being the topmost insurance company in the Nigerian stock market, she continues to attract more investors which allows her to continue to build on her reputation of stability. AXA Mansard is a subsidiary of the Mansard Group with a presence in over 60 nations across the globe.

Services offered by AXA Mansard Insurance include:

  • Non-Life business
  • Life business
  • Pension Funds Management
  • Asset management
  • Property Development,
  • Retirement Annuity and
  • Health management.

You can get more information on the AXA Mansard website.

4. Custodian and Allied Insurance

Custodian and Allied Insurance displays the impact offering dynamic and customer-focused services can have on a company’s success. Despite being established in 2007, she has made it to the list of the best insurance agencies in Nigeria. The distinctiveness of CAI’s service delivery is in its expertise to provide the industry with prompt, efficient, and highly skilled assistance. 

Professionals with a proven track record of achievement in their various disciplines make up the board that governs CAI. They contribute comprehensive and insightful viewpoints to the company’s direction based on their many years of rewarding and diverse experience.


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The company’s customer support is unique. Unlike others where you have to put a call through, you can simply input your phone number on the company’s website and they will give you a call to answer your complaints.

Services offered by Custodian and Allied Insurance include:

  • Auto insurance
  • Travel insurance
  • Event insurance
  • Life Assurance
  • Wealth management, and
  • Safety insurance.

5. Consolidated Hallmark Insurance

Coincidentally, Consolidated Hallmark was also established in 2007. Their reputation has been established by professionalism, integrity, and top-notch service. They provide consumers with top-notch risk management solutions by using the capacities and specialties of the entire group. They are Nigeria’s second insurance firm to receive the esteemed ISO 9001:2015 certification (Quality Management Systems Certification) only after LASACO Assurance PLC.

Consolidated Hallmark Insurance is popular in the industry for offering a very wide variety of insurance options for clients which puts her on this list of best insurance agencies in Nigeria. Her services include:

  • All Risks Insurance
  • Burglary Insurance
  • Goods-In-Transit
  • Home Insurance
  • Motor 3rd Party
  • Motor Comprehensive
  • Personal Accident
  • Travel Insurance
  • Aviation
  • Bonds Insurance
  • Consequential Loss
  • Contractors-All-Risk
  • Machinery Breakdown
  • Marine Insurance
  • Money Insurance
  • Plant-All-Risk, and
  • Professional Indemnity.

Breakdowns of each of these services plus a guide on how to create an account with them are all available on the Consolidated Hallmark Insurance website.

Top 7 Best Insurance Agencies in Nigeria With Their Offers & Services 


6. Cornerstone Insurance

Next on the list of best insurance agencies in Nigeria is Cornerstone Insurance Plc. Cornerstone Insurance was founded in 1991 with the goal of conducting insurance business in a way that was professional, moral, and customer-focused, and she has stayed true to these ideals over time. 

Most of her services are powered by the internet and other automation systems. She is the first insurance provider in Nigeria to provide customers with a web-based platform for purchasing insurance. It is not surprising that Cornerstone Insurance Plc. won the 2016 Nigerian Technology Awards for “Best use of Technology, Insurance Company.”

Not only does Cornerstone Insurance make use of technology in offering her services. She also offers an insurance plan that covers electronic gadgets which other insurance companies do not offer. Cornerstone insurance is the best insurance company in Nigeria for the youths. 

Other services offered by Cornerstone Insurance include:

  • Motor insurance
  • Travel insurance
  • School free guarantee
  • Home insurance
  • Goods in transit insurance
  • Fire and Burglary insurance, and
  • Marine insurance.

You can sign up for any of these plans on the Cornerstone Insurance website.

7. LASACO Assurance PLC

The seventh best insurance agency in Nigeria is LASACO Assurance established in 1979, LASACO (meaning Lagos State Assurance Company) offers composite insurance services (full of varieties). As stated earlier, because of two cardinal upper hands they have upheld since inception, they are the first to be awarded the ISO 9001:2015 certification from the Standard Organisation of Nigeria (SON).

LASACO has an upper hand in quick response customer service, you can be sure of being attended to at whatever time of the day you put a call across; and prompt claims payment to clients. 

Being an indigenous company that has been in business for so long, LASACO Assurance is currently not concerned only about increasing its profit margins. They are actively involved in giving back to society through different recurrent humanitarian services across Nigeria. 

While choosing an insurance plan with them, you are indirectly contributing to nation-building while partnering with an institution that puts you first.

LASACO Assurance offers several services categorised under personal and business plans. Some of their services include:

  • Motor insurance
  • Bonds
  • Contractors-all-risk insurance
  • Fire insurance
  • Burglary insurance
  • Aviation insurance
  • Marine insurance
  • General accident insurance
  • Life insurance
  • Pension schemes
  • Engineering and oil and gas.

You can get a breakdown of these services and sign up on the LASACO Assurance website.


There you have the 7 best insurance agencies in Nigeria. Your choice of which to go for is dependent on the specific insurance plan you desire or the service perks you desire the most. While there are several other insurance companies, you can be sure of any of these 7 to satisfy your needs while not facing challenges with delayed claims or loss of money.

AllInsuranceHUB is a blog for everyone who seeks an informative, educative, and knowledge-based online insurance and investment community. We share Biographies, Top-notch investment tips, finance news, insurance policy details and much more. You can read and share thoughts, ideas, and opinions on the finance market and get real-time updates from around the globe.

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I Am a financial analyst, Economist, Entrepreneur, Blogger and Businessman. With 10 years of Consultancy Experience in Finance, Management and Insurance. I write on finance tips, news, journals and how to article that will aid your decision in making the right investments and insurance policies for your personal and business financial security.

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