Insurance in Nigeria

Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Findings

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts


Essential resource for top-line data and analysis covering the Nigeria insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Reasons to Buy

What was the size of the Nigeria insurance market by value in 2015?

What will be the size of the Nigeria insurance market in 2020?

What factors are affecting the strength of competition in the Nigeria insurance market?

How has the market performed over the last five years?

What are the main segments that make up Nigeria’s insurance market?

Key Highlights

The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.

The Nigerian insurance market had total gross written premiums of $1.4bn in 2015, representing a compound annual growth rate (CAGR) of 3.1% between 2011 and 2015.

The non-life Insurance segment was the market’s most lucrative in 2015, with total gross written premiums of $1.0bn, equivalent to 72.2% of the market’s overall value.

A potential increase in capital requirements for Nigerian insurers is under discussion.


Ken Research
Ankur Gupta, Head Marketing & Communications


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