Assets do not last forever. They only sustain one through their period of usage.
Everything in life does have an expiry date. But ways of prolonging sustenance have come to light, and one of them is insurance.
Certainly, this is not new to the average man. An expensive car could break down completely. Its damage could be beyond repair but if it is insured, it could be replaced; maybe soon or later.
That is what insurance does. Insurance creates security over assets. Purchase a property, own an asset, have it documented and safeguarded.
No one prays for a disaster to occur but there are a lot of uncontrollable and unforeseen things that take place in life. As humans, we can only guess, hope, and pray for pleasant times and secure lifestyles.
Primarily, insurance entails having properties protected through policies. The insurance policy is the contract that reveals the conditions in which settlements are made.
This includes the situations that will require the compensations and to whom the compensations will be made. This person is referred to as an insured while the provider of the insurance is called an insured.
The one who engages in the process of the insurance is referred to as a policyholder.
Table of contents
- Insurance in Nigeria
- Top Insurance Companies in Nigeria
- Top Insurance Companies in Lagos State
- Top insurance companies in Abuja FCT
- Top Insurance Companies in Port-Harcourt
- Top insurance companies in Uyo
- Top insurance companies in Calabar
- Top insurance companies in Owerri
- Wrap Up
Insurance in Nigeria
Nigeria is a developing country. She is learning and walking through spheres of becoming active in the modern world.
While insurance is an act that was established quite long ago, (2nd millennia before Christ, The Chinese, The Indian, The Babylonian traders engaged in methods of distributing risks.) Nigeria started insurance in the year 1958.
N.B Benjamin Franklin introduced and organized the first insurance company in America. 1752.
The first established insurance companies in Nigeria were of European implementations. An example was the Royal Exchange Assurance Agency.
After Nigeria gained its independence, the European establishments created Nigerian subordinate companies. Although there was an issue with this development.
The money made was leaving the country into the accounts of the European parent companies. The Nigerian Government acted fast; thereby encouraging the foundation of state-owned insurance forms.
This birthed the growth of indigenous private insurance firms. The standardization of the insurance industry by the Nigerian Government led to the foundation of The National Insurance Commission in 1997.
Today, we must say that Nigeria has indeed excelled in the insurance field. The awareness of creating security over every asset has given great benefit to the country and its sense of protection and responsibility.
The country’s infrastructure is not as standard as it ought to be but on a scale of provision and maintenance, well, it weighs 3. Some places in the country bask in processing developments and it helps to give citizens a sense of civilisation and order.
Places such as Lagos State/city, Abuja FCT/city, Port-Harcourt Capital/city, Uyo Capital/city, Calabar Capital/city, Owerri Capital/city, etc to mention but a few; are recognized for their infrastructural developments and attempts at civilisation.
Amenities are within a reach and one of these amenities is insurance. One should always endeavour to have their assets and even their kinsmen insured. Insurance covers everything; humans included.
Top Insurance Companies in Nigeria
Here is the list of insurance companies in Nigeria and their services plus locations;
Top Insurance Companies in Lagos State
Lagos State, Nigeria is a blossoming place filled with eye-catching infrastructure and an alarming height of excitement. Everyone in Lagos is excited and lives quite an active lifestyle. Lagos city hosts a lot of companies; locally founded and branches of international establishments.
Most say it is a place filled with opportunities. Among these companies are insurance companies; some of which are at the peak of their prowess and expertise. Companies such as
1. AIICO Insurance Plc
This is located at 203-205, Apapa Oshodi Expressway; Oshodi Isolo Lagos. It is recorded to be the best insurance company in the state and country as well.
2. Leadway Assurance
This is located at 121/123 Funso Williams Avenue, Iponri, Lagos. Email; [email protected]. Apart from having a really enticing advert, Leadway is recognized as an insurance company with reliable efficiency.
3. Anchor Insurance Company
It is located at Block 5A, Ayo Jagun street, Lekki phase 1. Ajah, Lagos. This company provides policies over construction.
Its Location is 16A, Commercial Avenue, Sabo, Yaba, Lagos. This company provides policies over businesses and health matters inclusive.
5. Cornerstone Insurance Plc
Its location is at Number 21, water corporation drive, Victoria Island Lagos. It is noted to be the first insurance company to grant customers online access for insurance transactions.
6. Heirs Insurance Limited
Heirs Insurance Limited is a digital general insurance company challenging traditional insurance by providing simple and accessible protection for vehicles, homes, businesses and more.
The company also recently launched a bespoke product for women called Her Motor.
Her Motor Insurance Plan is an affordable and holistic comprehensive motor insurance plan offering coverage and support involving the mechanical breakdown of vehicles.
The plan also provides all-day protection and coverage for vehicles against road accidents, theft, or fire.
Other benefits include towing service, a free vehicle tracker and medical support in the case of an accident.
Heirs Life on the hand, is a digital life insurance company that provides simple, quick, accessible, and reliable life insurance, retirement, and children’s education protection plans to individuals, government agencies, and corporate businesses.
Top insurance companies in Abuja FCT
Abuja is a beautiful place. Reputed to be the residence area of several politicians in the country. Indeed it could be, as Abuja is the federal capital territory of Nigeria.
Abuja has an admirable infrastructure and is quite at the top of Nigeria’s s charts when it comes to civilisation.
Here are some top insurance establishments in Abuja;
1. African Alliance Insurance Plc
This is located at suite 6B, White House Plaza 79, Adetokunbo Ademola Crescent, Wuse 2, Abuja FCT Nigeria. This company is reputed to be a life, investment, and annuity policy provider but these are among other things.
2. Allianz Insurance
This is located at 3, Port Harcourt crescent, Area11, Garki 2 Abuja. This company provides personal insurance such as life, savings, etc.
3. Anchor Insurance Company Limited
This is located at the Akwa Ibom state liaison office. Plot 816, Ahmadu Bello Way, Central Area, Abuja FCT Nigeria. This company grants services on security, regarding house, fire, Hull and cargo.
4. Chrome Insurance Limited
This company is located at No 22 Lobito Crescent, Wuse 2, Abuja FCT Nigeria. This company provides a series of services; including biofuels energy production, real estate, logistics, etc.
5. Consolidated Hallmark Assurance
Its location is at the metro plaza, annex b, plot 991/992, Zakariya Maimalari Street, Central Business District, Abuja FCT Nigeria.
Consolidated Hallmark Insurance Plc is reputed amongst the well-recognized general insurance companies in Nigeria that grant risks and insurance.
Top Insurance Companies in Port-Harcourt
Port Harcourt is the fifth-largest city in Nigeria and it has a well-to-do infrastructure. Its level of civilisation is level 5.
Truth be told, living in Port Harcourt requires a lot of money. Once a person begins spending all this money; buying houses and cars, they would surely require insurance services.
Here are some fine insurance companies in Port Harcourt:
1. Ark Insurance Brokers
It is located at number 20, Daniel Kalio street, formerly Ohaeto street, D/line, Port Harcourt, Rivers State Nigeria. Ark Insurance Brokers is an insurance company that provides risk analysis, management, broking, life, etc.
2. Fin Insurance Company Limited
Fin Insurance Company is located at plot 180 Aba Road, Port Harcourt, Rivers Nigeria. This insurance company is authorised to carry out contracts and transactions of general insurance for individuals and corporate bodies.
3. Great Nigeria Insurance Plc
This is located at plot 19, stadium road, riz plaza, Port Harcourt, Rivers State Nigeria. Great Nigeria Insurance is a company that provides technological covers, and it ranks among the best insurance companies in Nigeria.
4. Guinea Insurance Plc
Guinea Insurance is located at number 174 Aba Expressway, Port Harcourt, Rivers State Nigeria. Guinea Insurance Plc provides services aiming at global standards in aspects regarding fire or general accidents; among other coverages.
5. Industrial and General Insurance
This is located at number 2 Ikwere Road, Port Harcourt, Rivers State Nigeria. It is a branch service centre that covers industrial, life, and general insurance.
It also covers pensions and special risk services.
Top insurance companies in Uyo
Uyo experienced a marvellous transformation which turned it into a deeply attractive environment. With jaw-dropping infrastructure and civilisation, why would insurance companies be amiss?
Here are the top insurance companies in Uyo:
1. Linkage Insurance
Linkage Insurance is located at number 22 Wellington Basset way, Uyo, Akwa Ibom state Nigeria. Linkage Insurance is the lead as regards covering businesses.
2. Niger Insurance Plc
This is located at number 17, Udo Umana Street, off oron, Uyo, Akwa Ibom State Nigeria. Niger Insurance Plc is in the lead as regards the provision of a wide range of both life and non-life insurance services.
3. Roseat Insurance Brokers
This is located at number 11 Nyong Essien Street, Uyo, Akwa Ibom Nigeria.
4. Pentacle Insurance Brokers
Pentacle Insurance Brokers is at number 182, F line, Ewet housing, Uyo, Akwa Ibom Nigeria.
5. Law and Union Rock Insurance Plc
This is located at number 164, oron road, Uyo, Akwa Ibom Nigeria.
6. Staco Insurance
This is located at number 174, Ikotekpene road, Uyo, Akwa Ibom Nigeria.
7. Mansard Insurance
This company is located at number 26, Aka Road, Uyo, Akwa Ibom Nigeria.
Top insurance companies in Calabar
Calabar, the capital city of Cross River State, has always been a beauty to behold.
Many good things have been said about it and its infrastructure is indeed a strong foundation. Nothing should go wrong with life in Calabar.
Below are the top insurance companies in Calabar;
1. NEM Insurance Plc
This is located at number 26 Etta-Agbor road, Calabar, Cross River Nigeria. This company insures over life and non-life insurance services. It is an insurance brokerage company.
2. Royal Exchange Assurance Plc
This company is located at number 103 Ndidem Usang road, Calabar, Cross River State Nigeria. Royal Exchange Assurance Plc grants services about money guard, burglary protection, etc.
3. Intentional Energy Insurance Plc
This is located at plot 38, First floor, MCC Road, Calabar, Cross River State Nigeria. International Energy Insurance is focused on the insurance of the energy sector.
It provides solutions for offshore and onshore risks and the general insurance business.
4. Hogg Robinson Nigeria Limited
This has its location at number 111, Ndidem Iso Road, Calabar, Cross River State Nigeria. Hogg Robinson Nigeria Limited is licensed by The National Insurance Commission to provide financial services such as analysis, quantification, etc.
5. Capital Express Assurance Limited
Capital Express Assurance has its location at number 3 Basset Duke street, by chamly junction, Calabar, Cross River State Nigeria.
This is a financial service firm that offers group and individual life insurance services.
Top insurance companies in Owerri
A place for lifestyle, a bubbling environment. These describe the capital/city of Owerri.
It has a fleet of business setups; hotels especially. Then, what’s not to secure in this city full of business activities?
Here are some quite potential insurance establishments in Owerri;
1. FBN Insurance Limited
This is located at number 14 Orlu road, Owerri, Imo State Nigeria. This is a life insurance company that grants coverage over industrial and corporate clients through life, group, welfare assurance, etc.
2. Mutual Benefits Assurance Plc
This is located at number 6 Wetheral Road, Owerri, Imo State Nigeria. Mutual Benefits Assurance Plc offers coverage over life insurance, marine insurance, motor insurance, etc.
3. Nicon Insurance Limited
Nicon has its location at number 43, Okigwe road, Owerri, Imo State Nigeria. Nicon Insurance Limited offers motor third-party insurance, travel insurance, etc.
4. Regency Alliance Insurance
This is located at number 63, Wetheral Road, Owerri, Imo State Nigeria.
Regency Alliance Insurance offers services on risk management, medical insurance services, etc.
5. Standard Alliance Insurance Plc
This is located at number 134, Wetheral Road, Owerri, Imo State Nigeria. Standard Alliance Insurance undertakes the task of providing the best investment and insurance services in Nigeria and Africa at large.
Of course, there are many other insurance companies in Nigeria. There are also many other cities in the country. However, the aforementioned ones have been arranged according to their levels of infrastructure and activities.
Having properties insured does not insinuate that a person is expecting the worst of things to happen.
Being a living, breathing, active individual, one must always have a contingency plan. It pays to always have something to fall back on; especially when disaster seems nigh.
Disasters happen more often than not and that should be a factor of encouragement to all individuals to secure themselves in every way possible.
It would not matter how much a person has accomplished if they have nothing to show for their struggles.
A lot of people would rather invest in owning more properties. They hardly consider what could go wrong with owning many properties without security. It is not an awful idea in its entirety to seek money. But a contingency plan must be made.
Secure what is owned, secure what is yet to be owned. Life is a systematic process and humans ought to take one step at a time; there is absolutely no need to rush.
Apart from securing properties, individuals should also make attempts to secure persons as well; family members especially. Should in case a heavy, unfortunate event takes place, the tears shed would only be that of having lost a loved one. It would not be over the fears of having a punctured future.