Licensed list · Africa · West Africa · NG

Licensed insurance companies in Nigeria (2026)

PartialPartially verified against the NAICOM register, checked 2 Sept 2026.

The 51 insurance companies licensed in Nigeria in 2026, as recorded by the National Insurance Commission (NAICOM), with the class of business and ownership each one is registered under.

51Licensed operators

12Life24% of entities 28General (non-life)55% of entities 17Cross-border groups33 domestically owned · 1 multilateral

By class of business

Each company is counted once, under the class its register row records. The supervisor’s own tally counts licences, so a company licensed for more than one class appears more than once there.

By ownership

Domestic private33 65%
Pan-African group14 27%
Foreign multinational3 6%
Regional / multilateral1 2%

“Cross-border groups” counts foreign multinationals and pan-regional groups; “domestically owned” counts domestic private, state-owned, mutual and captive entities. The register records the parent’s type, not its home market. How ownership is recorded

Licensed insurers in Nigeria

Showing 25 of 51 entities. The full, filterable table is on the country page; every row is in the JSON below.

Insurer	Class	Ownership	Group	Verification
AXA Mansard Insurance Plc	CComposite	Foreign multinational	AXA	Partial
Prudential Zenith Life Insurance	LLife	Foreign multinational	Prudential plc	Partial
Sanlam-Allianz General Insurance Nigeria	GGeneral (Non-life)	Pan-African group	Sanlam Allianz	Partial
Sanlam-Allianz Life Insurance Nigeria	LLife	Pan-African group	Sanlam Allianz	Partial
African Reinsurance Corp (Africa Re) - HQ	RReinsurer	Regional / multilateral	Africa Re	Partial
Continental Reinsurance Plc	RReinsurer	Pan-African group	Continental Re	Partial
Coronation Insurance Plc	GGeneral (Non-life)	Pan-African group	Coronation Group	Partial
Coronation Life Assurance	LLife	Pan-African group	Coronation Group	Partial
Enterprise Life Assurance Co (Nigeria)	LLife	Pan-African group	Enterprise Group	Partial
Leadway Assurance Co	CComposite	Pan-African group	Leadway Group	Partial
Mutual Benefits Assurance Plc	GGeneral (Non-life)	Pan-African group	Mutual Benefits	Partial
Mutual Benefits Life Assurance	LLife	Pan-African group	Mutual Benefits	Partial
NSIA Insurance	GGeneral (Non-life)	Pan-African group	NSIA Group	Partial
Prestige Assurance Plc	GGeneral (Non-life)	Foreign multinational	New India Assurance	Partial
Stanbic IBTC Insurance	LLife	Pan-African group	Standard Bank Group	Partial
Sunu Assurances Nigeria Plc	GGeneral (Non-life)	Pan-African group	Sunu Group	Partial
AIICO Insurance Plc	CComposite	Domestic private	AIICO	Partial
Alliance & General Insurance Plc	GGeneral (Non-life)	Domestic private	Independent	Partial
Anchor Insurance Co	GGeneral (Non-life)	Domestic private	Independent	Partial
Capital Express Indemnity Insurance	GGeneral (Non-life)	Pan-African group	Capital Express	Partial
Capital Express Life Assurance	LLife	Pan-African group	Capital Express	Partial
CHI Life Assurance	LLife	Domestic private	Consolidated Hallmark	Partial
Consolidated Hallmark Insurance	GGeneral (Non-life)	Domestic private	Consolidated Hallmark	Partial
Cornerstone Insurance Plc	CComposite	Domestic private	Cornerstone	Partial
Custodian and Allied Insurance	GGeneral (Non-life)	Domestic private	Custodian Investment	Partial

Full table for Nigeria ↗

Regulatory intelligence: Nigeria

Read from the register, not written for this page: the supervisor’s regime, the source the list was checked against, and the market notes recorded alongside it.

Supervisor: National Insurance Commission NAICOM
Regime: Insurance Act 2003; NIIRA 2025 recapitalisation
Register source: NAICOM NIIRA 2025 recapitalisation notices, 31 Jul and 13 Aug 2026 - full post-recapitalisation register
Verification: Partially verified against the regulator register · NAICOM notices 31 Jul, 13 Aug and 24 Aug 2026 (NIIRA 2025 minimum capital compliance); NAICOM takaful operators register (naicom.gov.ng/takaful-operators)
Profile: NAICOM — mandate, law and metrics

Recorded market events

NIIRA 2025 recapitalisation closed 31 Jul 2026; 48 insurers + 2 reinsurers confirmed compliant (NAICOM notices 31 Jul, 13 Aug 2026)
Effect on directory: Register reduced from ~58 to 50 operators; non-compliant firms omitted
Nigeria Reinsurance Corp licence revoked; receiver/liquidator appointed 3 Aug 2026
Effect on directory: Removed from Reinsurers sheet
Universal Insurance licence revoked; litigation pending (Aug 2026)
Effect on directory: Omitted pending court outcome
NSIA Insurance exited life business; portfolio transferred to CHI Life (Sep 2026)
Effect on directory: NSIA listed as non-life only

Governing legislation

Nigerian Insurance Industry Reform Act 2025 · Institutional and insurance framework
NIIRA 2025 is the new insurance-industry framework published by NAICOM. The commission regulates insurers and promotes policyholder protection and market stability.

Verification log

51 rows = NAICOM's 50 confirmed compliant operators (48 insurance + 2 reinsurance) plus African Reinsurance Corporation, a multilateral outside the NIIRA recapitalisation. Partial, not full: the compliance list is a subset of NAICOM's licensed population. Five licensed takaful operators (Crown, Hilal, Jaiz, Noor, Salam - licences RTC-097, RTC 003, RTC 092, RTC 091, RTC 004) and the licensed microinsurers are separately licensed and are not itemised here, so a carrier absent from this market may still be licensed by NAICOM. Removed as not on the compliance list: Universal (licence revoked with effect from 14 Aug 2026 and a receiver appointed, but a Federal High Court restraining order extended 4 Sep 2026 stays enforcement pending the company's suit), Staco, Old Mutual Nigeria, Royal Exchange Life, African Alliance, Goldlink and others. Nigeria Re and NICON are absent from the compliance list rather than revoked: the Federal Ministry of Finance directed NAICOM to suspend the disputed N680m recapitalisation fees and the CBN escrow demand against both pending a petition (letter 6 Aug 2026, ref F/LEG/0608/2026/22). Added NPF Insurance, Rex, Unitrust, emPLE, Fortis Global, IGI, CHI Life

For B2B teams and AI agents

The same rows as static JSON, no key, CORS open, CC BY 4.0. Paged files stay under 96 KB so an agent’s fetch tool never truncates them.

curl -s https://insurers.global/api/v1/countries/nigeria.json
curl -s https://insurers.global/api/v1/countries/nigeria/insurers/pages/1.json

MCP: connect https://insurers.global/mcp and call get_country_summary with { "country": "nigeria" }, or list_insurers with country, limit and offset for paged rows.
OpenAPI 3.1: /api/v1/openapi.json · WebMCP: /.well-known/webmcp.json · Guide: /ai/ · llms.txt
Dataset version 2026-09-08+3f3925fad259; every response carries version, verified and licence.

Snapshot