Top 5 Nigerian insurers according to turnover in 2019
Figures in thousands
| Rank | Compagnies | 2019 turnover | 2018 turnover | 2018-2019 evolution * | 2019 shares | ||
|---|---|---|---|---|---|---|---|
| NGN | USD | NGN | USD | ||||
| 1 | Leadway Assurance | 90 596 192 | 248 234 | 87 519 720 | 239 804 | 3.52% | 18.05% |
| 2 | AIICO Insurance | 50 138 467 | 137 379 | 37 665 507 | 103 203 | 33.12% | 9.99% |
| 3 | Custodian & Allied | 47 203 260 | 129 337 | 36 722 146 | 100 619 | 28.54% | 9.40% |
| 4 | AXA Mansard Insurance | 43 620 265 | 119 520 | 33 923 949 | 92 952 | 28.58% | 8.69% |
| 5 | Mutual Benefits Assurance | 18 697 839 | 51 232 | 15 840 697 | 43 403 | 18.04% | 3.72% |
| Total top 5 companies | 250 256 023 | 685 702 | 211 672 019 | 579 981 | 18.23% | 49.85% | |
| Rest of the market** | 251 785 977 | 689 893 | 214 538 911 | 587 837 | 17.36% | 50.15% | |
| Total market | 502 042 000 | 1 375 595 | 426 210 930 | 1 167 818 | 17.79% | 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
