Assets don’t endure a lifetime. Through the course of their usage, they can only support one.
There is a time limit on everything in life. However, strategies for extending food supply have been discovered, and one of them is insurance.
For the typical male, this is undoubtedly nothing new. An pricey vehicle could entirely fall apart. Even if the damage is beyond repair, if it is covered, a replacement may be possible sooner or later.
Insurance operates in such manner. Security over assets is created via insurance. Own a piece of property, get it recorded and protected.
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Nobody wishes for a catastrophe to happen, yet unexpected and uncontrollable events do happen frequently in life. As humans, all we can do is guess, pray, and hope for good times and safe lives.
Insurance mostly refers to the use of contracts to safeguard property. The contract that specifies the terms under which payments are made is the insurance policy.
This covers both the circumstances and parties for whom compensations will be necessary. The insurance provider is referred to as an insured, whereas this individual is referred to as an insured.
A policyholder is the person who participates in the insurance process.
Insurance in Nigeria
Nigeria is a nation in development. She is gaining knowledge and moving through the steps necessary to participate in modern society.
Although the insurance law was created quite some time ago (2nd millennia before Christ, The Chinese, The Indian, The Babylonian traders engaged in methods of distributing risks.) In Nigeria, insurance was first offered in 1958.
N.B. In 1752, Benjamin Franklin founded the country’s first insurance firm.
European innovations were used by Nigeria’s earliest founded insurance firms. The Royal Exchange Assurance Agency is one illustration.
The European institutions established Nigerian subordinate firms after Nigeria attained independence. Nevertheless, there was a problem with this new development.
The earnings were being transferred out of the nation and into the parent businesses’ accounts in Europe. The swift action of the Nigerian government aided in the establishment of state-owned insurance companies.
This sparked the expansion of domestic private insurance companies. The National Insurance Commission was established in 1997 as a result of the Nigerian government’s standardization of the insurance sector.
Today, we must acknowledge that Nigeria has achieved great success in the insurance industry. The country and its sense of protection and responsibility have benefited greatly from the realization of the importance of establishing security over every asset.
Although the nation’s infrastructure is not up to par as it should be, it nevertheless rates a 3 on a scale of provision and upkeep. Some regions of the nation enjoy ongoing growth, which contributes to the feeling of civility and order among the populace.
Cities and states like Lagos State, Abuja Federal Capital Territory, Port-Harcourt, Uyo, Calabar, and Owerri, to name a few, are known for their attempts at civilization and infrastructure advancements.
Insurance is one of the things that are easily accessible. One should constantly make an effort to insure their belongings and even their family members. Everything is covered by insurance, even people.
Top Insurance Companies in Nigeria and their addresses
1. African Alliance Insurance Company Limited:
112 Broad Street, Lagos Island, Lagos.
-Telephone:
+234 1 2664373, 2664419, 2664300;
-Fax:
+234 1 2660943
2. AIICO Insurance Plc:
AIICO Plaza, Plot PC 12, Afribank St. Victoria Island, Lagos.
-Telephone:
+234 1 4753361-3, 2610651, 2612527, 2614049, 2614669; Fax: +234 1 2617433
3. Alliance & General Insurance Company Ltd:
BAICO Plaza, 12 Abibu Oki Street, Lagos..
-Telephone:
+234 1 2660678, 2663334, 2669825, 2644989, 2661406, 2669450;
-Fax:
+234 1 2661406
4. Anchor Insurance Company Limited:
7/13 Aka Road, Uyo, AkwaIbom State.
-Telephone:
+234 85 200912, 201633, 201583
5. Capital Express Insurance Company Limited
Crusader House, 23/25 Martins Str, Lagos Island, Lagos.
-Telephone:
+234 1 2660590, 2641519;
-Fax:
+234 1 2664526
6. Consolidated Hallmark Insurance Plc
266, Ikorodu Road, Obanikoro, Lagos.
-Telephone:
+234 1 4973165, 4938585
7. Continental Reinsurance Plc
St. Nicholas House 6, Catholic Mission Street, Lagos.
-Telephone:
+234 1 2665350, 2665354, 2665368;
-Fax:
+234 1 2665370
8. Cornerstone Insurance Plc
Commerce House, 1 Idowu Taylor Street, Victoria Island, Lagos.
Telephone:
+234 1 2806500;
-Fax:
+234 1 2806526-7
-Email:
enquiries@ciplcng.com
9. Crusader Insurance Plc
Crusader House, 23/25 Martins Street, Lagos.
-Telephone: +234 1 2662717, 2661507, 2667324;
-Fax:
+234 1 2660751
10. Custodian & Allied Insurance Ltd
Stillwater House, 14B Keffi Street, S.W. Ikoyi, Lagos
-Telephone:
+234 1 2707204-8, 0-4805963-4, 2694972;
-Fax:
+234 1 2707203
11. Equity Indemnity Insurance Plc
13-15th Fl. Eleganza House, 15B Joseph Street, Lagos.
Telephone:
+234 1 2637802, 2637337, 2637845;
-Fax: +234 1 2637479
12. Equity Life Insurance Co. Ltd
Eleganza house. 15B, Joseph Street, Lagos.
-Telephone:
+234 1 4812200, 3626800, 234 (0)802 320 2352;
-Fax:
+234 1 2637095
13. Fortune Assurance Company Limited
2 AgoroOdiyanStr, Off AdeolaOdeku, Victoria Island, Lagos
-Telephone:
+234 1 2623623-4
14. Goldlink Insurance Co Ltd
Goldlink Plaza, 6 Emmanuel Street, Ikeja, Lagos.
-Telephone:
+234 1 8153328, 8153322, 4979567-9;
-Fax: +234 1 4979568
15. Great Nigeria Insurance Plc
GNI Complex, 8 Omo-Osagie Street, off Awolowo, S.W. Ikoyi, Lagos.
-Telephone:
+234 1 2670425-6, 2665359, 26958053;
-Fax:
+234 1 2666942
16. Guaranty Trust Assurance Plc
928a Aboyade Cole Street, Victoria Island, Lagos.
-Telephone:
+234 1 2701560-5
17. Guardian Express Assurance Limited
2B Gbagada Expressway, Gbagada Phase 1 Opp. Anthony Village, Lagos
-Telephone:
+234 1 8048656, 5551005, 5551026, 5551027
18. Guardian Trust Insurance Co. Ltd
39A, Saka Tinubu Street, Victoria Island, Lagos.
-Telephone:
+234 1 2625682-5, 2880499, 3452003;
-Fax:
+234 1 4617536
19. Guinea Insurance Plc
Wema Towers, 54 Marina, Lagos Island, Lagos.
-Telephone:
+234 1 2660630, 2665201, 2664693, 266667;
-Fax:
+234 1 2668258
20. Industrial And General Insurance Plc (IGI)
Plot 741, Adeola Hopewell, Victoria Island, Lagos
-Telephone:
+234 1 6215010-14, 2622174-5, 4611020-4;
-Fax:
+234 1 2621146, 2610406, 6215049
-Email:
info@igi-insurers.com
21. Intercontinental WAPIC Insurance Plc
Wapic House, 119 Awolowo Road, Falomo, South West Ikoyi, Lagos.
-Telephone:
+234 1 4615153, 4611637, 8119857 ;
-Fax:
+234 1 2693838
22. International Energy Insurance Company Limited
Plot 171a MoshoodOlugbaniStr, Victoria Island Extn, Victoria Island, Lagos.
-Telephone:
+234 1 4616972-4;
-Fax:
+234 1 2707770, 2705695, 2705696
23. Investment & Allied Assurance Co. Ltd
Block 10 Ikorodu Road, Beside 7th Day Adventist Church, Maryland, Lagos.
24. Kapital Insurance Company Limited
Plot 171a MoshoodOlugbaniStr, Victoria Island Extn, Victoria Island, Lagos.
-Telephone
+234 9 2344631
25. Lasaco Assurance Plc
13 Alhaja Asabi Cole Street, Alausa, Ikeja,, Lagos.
-Telephone:
+234 1 2600820-9
26. Law Union And Rock Insurance Plc
Plot 209 MuriOkunola Street, Victoria Island, Lagos.
-Telephone:
+234 1 7742073, 8044793, 2882257-8;
-Fax:
+234 1 3200486
27. Leadway Assurance Company Limited
121/123, Western Avenue, Iponri, Surulere, Lagos.
-Telephone:
+234 1 2700700;
-Fax:
+234 1 2700800, 5837187, 5834169
28. Linkage Assurance Plc
Linkage Plaza, Plot 94, Block 20, Lekki-Epe Expressway, Lagos.
-Telephone: +234 1 2716560 1,2716562-5, 2716566-70;
-Fax:
+234 1 2716571
Email:
info@linkageassurance.com
29. Mutual Benefit Assurance Plc
233, Ikorodu Road, Ilupeju, Lagos.
-Telephone:
+234 1 5556970-5;
-Fax:
+234 1 555 6957
30. None-Life Insurance
138/146 Broad Street, Lagos.
-Telephone:
+234 1 2664759
31. Niger Insurance Plc
Niger Insurance Plaza, 48/50 Odunlami Street, Lagos
-Telephone:
+234 1 2631329
32. Nigerian Agricultural Insurance Corporation
Plot 590, Zone A, Central Area, Abuja.
-Telephone:
+234 9 2342721, 2342675, 2342806;
-Fax:
+234 9 2342820
33. Oasis Insurance Plc
Oasis House, 298 MoshoodAbiola Road, Anthony, Lagos.
-Telephone-
+234 1 4932448, 7916039, 4965069, 8182870;
-Fax:
+234 1 4937537
34. Prestige Assurance Plc
Prestige House, Plot 19 Block XI LigaliAyorindeStr, Victoria Island, Lagos.
-Telephone:
+234 1 3204681-3;
-Fax:
+234 1 3204684
35. Regency Alliance Insurance Plc
2B Ebun Street, Gbagda Expressway, Gbagada, Lagos.
-Telephone:
+234 1 4726957, 4726958, 5550761, 5821418;
-Fax:
+234 1 5552423
Email:
info@regencyalliance.com
36. Royal Exchange Assurance (Nigeria) Plc
New Africa House, 31, Marina, Lagos.
-Telephone:
+234 1 2663120, 2663143, 2663191, 2663197;
-Fax:
+234 1 2664431
37. Sovereign Trust Insurance Plc
35, AdetokunboAdemola Street, Victoria Island, Lagos.
-Telephone:
+234 1 2619011, 2623940, 4615006-9;
-Fax:
+234 1 4617200, 4615817
38. Standard Life Assurance Plc
285B Ajose Adeogun Street, Victoria Island, Lagos.
-Telephone:
+234 1 7748195, 01-3200254
Email:
standardlife@standardalliancegroup.com
39. Standard Trust Assurance Plc (STACO)
209 Herbert Macaulay Street, Ebute Metta, P.M.B. 1018 Sabo, Yaba, Lagos
-Telephone:
+234 1 7741181, 1 7740571, 1 77311880, 1 2952696-7,1 4758852-3; –Fax:
1 3425466
-Email:
info@stacoplc.com
40. Sterling Assurance Nigeria Plc
332 Ikorodu Road, Idiroko Bus Stop, Lagos.
-Telephone:
+234 1 7730406;
-Fax:
+234 1 4933656
Email:
sterling@intracom.net.ng
41. UNIC Insurance
144, Oba Akran Avenue, Ikeja, Lagos.
-Telephone:
+234 1 4968232-6, 4740102;
-Fax:
+234 1 2707950
42. Union Assurance Company Limited
Stallion Plaza (13th Floor) 36 Marina, Lagos.
-Telephone:
+234 1 2640277, 2643859, 2643860-1
43. UBA Metropolitan Life Insurance Company Limited
Plot 1662 OyinJolayemi Street, Victoria Island, Lagos.
-Telephone:
+234 1 4620570
-Fax:
+234 1 4620586, 4620588
Email:
info@ubametropolitan.com
44. Unitrust Insurance Company Limited
Unitrust House, Plot 105B, Ajose Adeogun Street, Victoria Island, Lagos.
-Telephone:
+234 1 2629143-46, 4617031-2;
-Fax:
+234 1 2625528, 2701165
45. Universal Insurance Company Limited
27/29 Martins Street, Lagos Island, Lagos.
-Telephone:
+234 1 2664766
46. Yankari Insurance Company Limited
Plot 19/23 Isa Yuguda House, Jos Road, Bauchi, Bauchi State.
-Telephone:
+234 77 543065-6;
-Fax:
+234 77 542926
47. Zenith General Insurance Company Ltd
Plot 101 Ajose Adeogun Street, Victoria Island, Lagos.
-Telephone:
+234 1 2701004-5, 4613704
Conclusion
Of course, Nigeria is home to a large number of different insurance firms. There are several additional cities around the nation. The ones indicated above, however, have been categorized based on their infrastructure and activity levels.
The fact that a person has insurance on their property does not imply that they are planning for the worst.
Anyone who is alive, moving, and active must always have a backup plan. It pays to have a backup plan at all times, particularly when tragedy is imminent.
Disasters occur often, thus everyone should be encouraged to take all reasonable precautions to protect themselves.
Even if someone had accomplished a lot, it wouldn’t matter if they had nothing to show for their hardships.
Many people would like to make investments in real estate. They barely think about the potential pitfalls of having several homes without security. In its whole, looking for money is not a terrible concept. However, a backup plan has to be created.
Protect what you already own and what you still have to acquire. Humans should go slowly in life since it is a process; there is no reason to rush.
