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Illustrated portrait of Nigeria; geographic and cultural interpretation, not regulator premises.
← The regulatory atlasCOUNTRY PERSPECTIVE / Nigeria

Specialist insurance commission

NigeriaNAICOM

Insurance supervision in Nigeria.

AI-generated country illustrationSources checked

01 / The institution

National Insurance Commission

NIIRA 2025 is the new insurance-industry framework published by NAICOM. The commission regulates insurers and promotes policyholder protection and market stability.

How it is structured

Specialist insurance commission

Institutional source ↗

The legal foundations

Mandate, written into law.

Establishing legislation and the rules governing insurance may be different instruments.

02 / Market signals

The numbers, with context.

Figures retain the reporting period and accounting basis of their source. They are snapshots, not live indicators or directly comparable country rankings.

As at Q4 2025NGN 2,301.8bn

Gross premiums written

As reported at Q4 2025; 47.3% year-on-year growth. This is not labelled as a standalone three-month flow.

Introduction and Table 1, page 3 ↗
As at Q4 2025NGN 4,791.6bn

Insurance-sector assets

Stock at the close of the reporting period.

Table 5, page 10 ↗

Insurance penetration. A current premium-to-GDP ratio has not been independently verified for this profile. No estimate is substituted.

03 / The report notebook

A dated view of the market.

What we noted in the regulator’s publications. Each entry separates the period covered, publication date when known, and our review date.

ReviewedNOTE 01

As at Q4 2025

Bulletin of the Insurance Market Performance — Q4 2025 ↗

Premiums, market mix and assets reviewed. The cover and body identify 2025, although running headers incorrectly retain “Q4 2024”. The search index mentions Q1 2026, but the accessible publication listing supplied this Q4 2025 document; latest-report completeness is not confirmed.

Non-life share of premiums

68.4%

Life business accounted for the remaining 31.6%.

Bulletin of the Insurance Market Performance — Q4 2025Market mix, page 4 · Country illustration
Read the original publication ↗

04 / Official contacts

Reach the institution.

Public institutional channels, checked 17 September 2026.

Research trail

Sources you can follow.

Independent editorial research by Insurers Global. Source dates do not certify that a law includes every subsequent amendment.

  1. NIGERIAN INSURANCE INDUSTRY REFORM ACT, 2025 ↗Checked
  2. Official contact page ↗Checked
  3. Official institutional contact information ↗Checked
  4. Bulletin of the Insurance Market Performance — Q4 2025 ↗Checked

Country scenes are AI-generated illustrations made with OpenAI image tools, not official regulator photographs or endorsements. Quotations remain searchable text. Report figures and directory verification are maintained separately.