Insurance is a contract in which an insurer promises to pay the insured party a sum of money if one or more specified events occur in the future, in return for regular small payments - known as premiums.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter.
Insurance is an interesting industry. It is there to protect you, but it sometimes seems like a huge waste of resources if you don’t end up needing it. Of course, if you do end up with a serious problem,
not having insurance could take an already difficult situation and turn it into a financial catastrophe.
not having insurance could take an already difficult situation and turn it into a financial catastrophe.
While you don’t need to insure against everything, there are a few insurance policies that you should have. The key is to recognize which insurance policies are the most essential to protect yourself and find a way to incorporate them into your budget. Not doing so is a gamble which can have a devastating financial impact if something happens.
Life Insurance is different from other insurance in the sense that, here, the subject matter of insurance is the life of a human being. The insurer will pay the fixed amount of insurance at the time of death or at the expiry of the certain period to the authorised family members.
The general insurance includes Property Insurance, Liability Insurance, and Other Forms of Insurance. Fire and Marine Insurances are strictly called Property Insurance.
Wondering how insurance company makes their money? Let me tell you.
To generate revenue, insurance companies will invest a portion of the small amount of money earned from annual premiums. By taking this money and putting it in low-risk investments, insurance companies can earn additional profits, which help improve their balance sheets and bottom line.
Let’s consider some basic insurance terms that you may encounter as you look into my list of best insurance companies in Nigeria, soon to be listed below.
*. Agent: Someone who represents one insurance company and sells its insurance products.
*. Broker: Person or company who sells the insurance products of several different insurance companies
*. Coverage: Amount of protection you have purchased.
*. Claim: Official notice you provide to your insurer requesting to be paid for a loss of event covered by your insurance policy.
*. Insured: Person(s) protected by the insurance policy.
*. Insurer: Insurance Company that issues the insurance policy
*. Policy: Legal contract between you and the insurer
Here are the top 6 Insurance Companies in Nigeria and their contact details.
1. AXA Mansad Insurance:
AXA Mansard is a member of the AXA Group, the worldwide leader in
insurance and asset management with 166,000 employees serving 107 million clients in 64
countries. Location is at 928A Aboyade Cole Street, Victoria Island, Lagos. You can also visit
their website via https://
AXA Mansard is a member of the AXA Group, the worldwide leader in
insurance and asset management with 166,000 employees serving 107 million clients in 64
countries. Location is at 928A Aboyade Cole Street, Victoria Island, Lagos. You can also visit
their website via https://
2. AIICO Insurance Plc
AIICO known as the American International Insurance Company is an Agency Office of
American Life insurance that commenced operation in 1963. It is one of the insurance
companies in Nigeria that provides quality products to their customers. AIICO Head office
address: Plot PC 12, Church Gate Street, Victoria Island, Lagos.AIICO Website:
http://
AIICO known as the American International Insurance Company is an Agency Office of
American Life insurance that commenced operation in 1963. It is one of the insurance
companies in Nigeria that provides quality products to their customers. AIICO Head office
address: Plot PC 12, Church Gate Street, Victoria Island, Lagos.AIICO Website:
http://
3. Leadway Assurance Company Limited:
In 1970, an insurance company which also provides
integrated insurance and financial services to customers was founded by sir (Dr) Hassan
Olusola Odukale. Leadway started operation in 1971. Leadway assurance management team
are simply tne: 01-2700700
In 1970, an insurance company which also provides
integrated insurance and financial services to customers was founded by sir (Dr) Hassan
Olusola Odukale. Leadway started operation in 1971. Leadway assurance management team
are simply tne: 01-2700700
4. Industrial and General Insurance Plc (igi)
Industrial and General insurance company was first incorporated as a private limited liability
insurance company in Nigeria, on 31st October 1991 and in 2007. Igi office in Lagos: No 2,
Agoro odiyan street, off Adeola Odeku street Victoria Island Lagos state. Please visit their
website for more information via http://
Industrial and General insurance company was first incorporated as a private limited liability
insurance company in Nigeria, on 31st October 1991 and in 2007. Igi office in Lagos: No 2,
Agoro odiyan street, off Adeola Odeku street Victoria Island Lagos state. Please visit their
website for more information via http://
5. Cornerstone Insurance PLC:
cornerstone insurance plc was incorporated on 26th July 1991 with registration number
RC163170. cornerstone insurance plc products include: Motor insurance, Travel insurance, Home insurance,
Life insurance, Annuity, Goods in transit, Combined fire and burglary, Marine Insurance, Mymoto
shield, Gadget Inspector Plan, Drone Insurance.
Cornerstone insurance plc head office address: Water Corporation Drive off Ligali Ayorinde
Street, Victoria Island, Lagos. Their website:
https//:www.cornerstone
Phone: 0810 6000 800
cornerstone insurance plc was incorporated on 26th July 1991 with registration number
RC163170. cornerstone insurance plc products include: Motor insurance, Travel insurance, Home insurance,
Life insurance, Annuity, Goods in transit, Combined fire and burglary, Marine Insurance, Mymoto
shield, Gadget Inspector Plan, Drone Insurance.
Cornerstone insurance plc head office address: Water Corporation Drive off Ligali Ayorinde
Street, Victoria Island, Lagos. Their website:
https//:www.cornerstone
Phone: 0810 6000 800
6. Custodian and Allied Insurance Plc
It is one of the capitalized insurance companies in Nigeria. The company started operation on
13th of August, 1997 and they provide both life and general insurance.
Their insurance products include; auto insurance, health, travel, home shield, personal accident
and wealth management
This insurance company ensures their customers have access to an independent dispute
resolution system if you need to file a complaint.
Their address is at 16A, commercial Avenue Sabo,Yaba, Lagos. custodian insurance portal
online for more info: http:// www.custodianpl
Phone: 01 277 4000.
It is one of the capitalized insurance companies in Nigeria. The company started operation on
13th of August, 1997 and they provide both life and general insurance.
Their insurance products include; auto insurance, health, travel, home shield, personal accident
and wealth management
This insurance company ensures their customers have access to an independent dispute
resolution system if you need to file a complaint.
Their address is at 16A, commercial Avenue Sabo,Yaba, Lagos. custodian insurance portal
online for more info: http:// www.custodianpl
Phone: 01 277 4000.
GUYS, WHAT DO YOU THINK?
DO YOU SUBSCRIBE TO ANY INSURANCE ?
DO YOU SUBSCRIBE TO ANY INSURANCE ?
.........
LINKS YOU MIGHT LIKE
....... ..
Follow Edeson News on Instagram & Twitter:.
@EndyEdesonNews
...............
Read More News Stories on my News Website
www.edesononlin
..........
Shop for Fashion Clothing with Discount at
www.FashionGarn
...............
Are you Looking For A Job?
Apply Now At : www.job247sure.
...............
If you love charity works and you want to be part of it
Visit: www.hopefoundat
.......
LINKS YOU MIGHT LIKE
....... ..
Follow Edeson News on Instagram & Twitter:.
@EndyEdesonNews
...............
Read More News Stories on my News Website
www.edesononlin
..........
Shop for Fashion Clothing with Discount at
www.FashionGarn
...............
Are you Looking For A Job?
Apply Now At : www.job247sure.
...............
If you love charity works and you want to be part of it
Visit: www.hopefoundat
.......
FACEBOOK COMMENTS
View previous comments…
Ayodipo Bilesanmi
Mr Endy Edeson,you made my day, posting about Insurance, I am a Insurance agent of Mutual Benefit Assurance, contact me for your Insurance,07086
Endy Edeson
@Ayodipo; That's good to know. Sure, I will contact you when I or anyone I know need insurance services. I will save your phone number . I believe it's your WhatsApp number as well, right?
Ayodipo Bilesanmi
Yes, thanks
