Nigeria

The country profile below provides information on population, gross domestic product, insurance premiums and leading insurers.

Insurance Association

Nigerian Insurers Association
Web: http://www.nigeriainsurers.org/

 

POPULATION, 2011-2014 (1)

Year Population
2011 155,215,573
2012 170,123,740
2013 174,507,539
2014 177,155,754

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

GROSS DOMESTIC PRODUCT, 2009-2013 (1)

Year GDP
2009 $328.1
2010 353.2
2011 369.8
2012 414.5
2013 478.5

(1) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. GDP estimate for July for each year shown.

Source: U.S. Central Intelligence Agency.

 

 

LIFE AND NONLIFE INSURANCE PREMIUMS, 2013

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $1,406
Life premiums 457
Total premiums $1,863
Percent of total world premiums 0.04%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 3/2014.

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LEADING NONLIFE INSURANCE COMPANIES, 2011

  Gross written premiums
Company NGN Mn USD Mn
Leadway 19,600.4 126.7
Custodian and Allied 10,061.0 65.0
AIICO 8,427.3 54.5
NEM 8,220.5 53.1
Mansard 7,637.0 49.4
Industrial and General 6,672.4 43.1
STACO 6,485.5 41.9
Sovereign Trust 6,407.7 41.4
Royal Exchange 5,887.4 38.1
Zenith General 5,648.8 36.5

Source: Axco Insurance Information Services.

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LEADING LIFE INSURANCE COMPANIES, 2011

  Gross written premiums
Company NGN Mn USD Mn
AIICO 10,017.4 64.7
Niger Insurance 4,760.6 30.8
Mutual Benefit 4,602.2 29.7
Leadway 4,485.4 29.0
Industrial and General 3,927.6 25.4
Capital Express 3,357.8 21.7
Mansard 2,367.7 15.3
CrystaLife 2,289.6 14.8
Standard Alliance Life Assurance 2,157.3 13.9
African Alliance 1,827.9 11.8

Source: Axco Insurance Information Services.

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