Top Insurance Brokers in Nigeria 2022

insurance brokers in Nigeria

The different insurance brokers in Nigeria work hard in making sure that you get the best insurance policy that fits you.

The natural business tendency of an insurer dealing directly with an insured is to provide the bare minimum of coverage at the highest possible cost.

Insurance brokers aim to change this by providing clients with maximum coverage at the lowest possible cost.

Also, insurance brokers help with claim presentation and prosecution and can be invaluable in tipping the scales in favor of clients in contentious cases.

Insurance brokers also provide individual services to their clients by reviewing their insurance needs on a regular basis, providing analysis and reports, and paying regular visits to clients to stay up to date on their needs.

These services are provided at no additional cost to their clients because their compensation is derived from the insurance company.


Insurance Brokers in Nigeria

Here are the top Insurance Brokers in Nigeria;

  1. Northlink Insurance Brokers Plc

Northlink Insurance Brokers Plc is a licensed insurance brokerage firm that provides insurance brokerage services through the National Insurance Commission (NAICOM).

On October 23, 1989, the Company was incorporated with a share capital of N100,000,000.00 and a fully paid capital of N76,349,648.00.

They have seasoned professionals and cutting-edge information technology in place to provide the best insurance brokerage services to their clients.

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Among their responsibilities is assisting their clients in identifying insurable risks. Following identification, the client decides which risks accepting and which to transfer to the underwriter (Insurer).

On the latter, they make certain that their client receives the best available insurance coverage for the premium paid.

Though the insurance contract is strictly between the client and the insurance company, they bring their experience and expertise to bear and speak on equal terms with the insurance companies on the underwriting bench as professionals.

Address: Area 3, 15 Jos St, Garki 900243, Abuja

Contact: 09 290 3874

  1. Kingsley Insurance Brokers (KIB) Ltd.

Insurance Broking and Risk Management Consulting at KIB is a well-known insurance broker in Nigeria.

Founded in 1999, the company was reorganized and recapitalized in 2015. National Insurance Commission is licensed and registered with the Nigeria Council of Registered Insurance Brokers They are poised and positioned to become a household brand and key industry player recognized at the pinnacle of service excellence in Nigeria and around the world.

They take pride in providing unrivaled customer service and relationships in the insurance industry. They operate with extremely high ethical standards and corporate governance, as evidenced by the caliber of their clientele.

Address: Suite D8-9, 3rd Floor, HCR Plaza Opposite Police Pensions Office, Off Sylvester U. Ugoh Crescent, Jabi 900108, Abuja

Contact: 0806 646 1095

  1. Insurance Brokers of Nigeria Limited

Insurance Brokers of Nigeria Limited (IBN) is Nigeria’s first insurance brokerage firm. IBN has remained at the forefront of professional insurance broking practice for commerce and industry.

With a diverse range of experience combined with creative responses to an ever-changing operating environment.

IBN has continued to successfully assist its clients in risk management. Since then, IBN has evolved into a fully integrated risk management and insurance brokerage firm. IBN is one of the country’s top brokerage firms.

Its mission is to create and deliver risk solutions and services that help our clients succeed, and they are completely dedicated to customer satisfaction.

Address: 4 Ilabere Avenue, Ikoyi 106104, Lagos

Contact: 01 461 5234

  1. First Dominion Insurance Brokers Ltd

First Dominion Insurance Brokers Ltd was founded in May 1987 and is licensed by the National Insurance Commission (NAICOM) to offer brokerage services in both life and general insurance. The company is fully paid-up and registered with a share capital of N50 million.

They guarantee indemnity against legal liability to pay any claim attributed to professional negligence that may result from the activities of their employees, with a professional indemnity cover for 250 Million, far exceeding the N5Million minimum recommended.

Address: Suite 21, Bataiya Plaza, Area 11, Garki, Abuja, FCT, Abuja

Contact: 0705 425 8277

  1. Leverage Insurance Brokers Limited

Leverage Insurance Brokers Ltd (RC 164,086) was founded in 1991 and is licensed by the National Insurance Commission (RBC 214) to conduct all types of insurance and reinsurance transactions.

In addition, they are a member of the Nigerian Council of Registered Insurance Brokers (RB 033). Leverage Insurance Brokers Ltd will effectively arrange and manage their clients’ insurance programs, relieving their clients of the worry of business disruption caused by insurable risks.

The organization can then concentrate on growing its core business. Wherever possible, they innovate to relieve businesses of concerns about new or unusual risks that could stifle growth into new areas of business.

Leverage will work hard to obtain the most competitive rates and terms in order to keep their clients on a budget.

A good insurance program with a set premium allows its clients to budget for the premium and manage their cash flow.

Address: Suite C6, Al-Maliha Commercial Centre, Ahmadu Bello Way, Garki 2 900103, Abuja

Contact: 09 870 6551

  1. Icons Insurance Brokers Ltd

They are an Insurance Brokers firm licensed by the National Insurance Commission in 2002 as Zhan Insurance Brokers as Professional intermediaries/consultants in the General Insurance and Life & Pensions Insurance business.

The firm was acquired by the current investors in the fourth quarter of 2009 and rebranded ICONS Insurance Brokers Limited with NAICOM’s approval, and it now provides Insurance and Reinsurance Broking Services in the Life and General Insurance business.

They are well-known for their expertise in aviation, oil, and gas (energy), construction, and engineering/power insurance and reinsurance, as well as their specialized capacity for developing effective programs and placements both locally and internationally.

At ICONS, they have re-defined insurance by constantly fine-tuning their Clients’ Insurance/Reinsurance coverages to meet their needs and add value to their operations/staff welfare.

Its mission is to provide insurance and reinsurance brokerage services to all stakeholders in order to improve assets, people, and environmental protection.

Address: Suite 218 2nd Floor Kings Plaza Opp. NAF Conference Centre, Ahmadu Bello Way, Kado District, Abuja

Contact: 0802 314 0992

  1. Country and City Insurance Brokers Limited

Country and City Insurance Brokers Limited was established in September 1987 as an insurance broker under the Companies Act of 1948.

Country and City Insurance runs a very dynamic organization that benefits from the combined professionalism and experience of its Executives.

They offer personalized services to all of their customers. They have been in business for over 25 years and are well-versed in the Nigeria Insurance Industry as well as their clients’ rights and obligations under Nigerian insurance laws. They enjoy tremendous support from the insurance industry both at home and abroad.

Also, they are well-known for providing excellent service. Given the caliber of the various professionals and businessmen who have directed the Company’s affairs as Board Chairmen at various times, it is not surprising that Country and City Insurance Brokers Limited remains a market leader in the insurance industry today.

Its mission is to be the preferred provider of Customized Insurance Brokerage Services by utilizing competent multi-skilled professionals and cutting-edge information technology to ensure superior performance and maximum/sustainable returns to stakeholders, customer support services, and mutually beneficial working relationships with insurers worldwide.

Address: Apartment 5 Plot, 883 Olu Awotesu St, Jabi 900108, Abuja

Contact: 09 290 3914

  1. Millbank Insurance Brokers Ltd

Millbank Insurance Brokers Ltd, formerly Liberty Insurance Brokers Limited, was formed as a limited liability company on May 3, 2004 under the Companies and Allied Matters Act 1990.

And it began operations in 2006, transacting all types of insurance. Over the years, the company has built a reputation for exceptional competence in service delivery as well as product innovation.

Millbank Insurance Brokers has become the preferred Broker for Corporate, Government, and Individual clients due to its adequate capital base, impeccable Board of Directors, highly motivated professionals, and use of modern technology for speed and efficiency.

To establish a stable, profitable, and strong insurance brokerage firm by providing superior and high-quality insurance services to their clients.

Millbank Insurance Brokers will consistently provide high-quality insurance services, thereby providing the best value at competitive rates to their clients, by utilizing highly skilled professionals and cutting-edge technology.

Address: Plot 448A Lagos Cres, Garki 2 900110, Abuja

Contact: 0803 706 4898

  1. EcoInsurance Brokers Limited

Eco Insurance Brokers (EIB) provides expert guidance and advice to ensure clients have the coverage they require at a reasonable price.

They represent their clients in all interactions with the insurance company, from underwriting to claim settlement. They know from decades of experience that not all insurance policies (or insurers) are created equal.

It is critical that the scope and size of client coverage match exactly what clients require. They examine a wide range of insurance products offered by leading insurers in order to select and recommend the policy that they believe will best serve their clients.

And they will be there for their clients in the long run as their advisors for all of their general insurance needs.

Address: 1st Floor, B13, Amac Plaza, No. 2 Kabale Close, Off, Sultan Abubakar Way, Zone 3, Abuja

Contact: 0803 609 6101

  1. Hilltop Insurance Brokers Ltd

Hilltop Insurance Brokers Limited was established in 2003 as a private Limited Liability Company in accordance with Nigerian law to carry on the business of Insurance Broking, Risk Management, and Consultancy services in the Marine, Oil and Gas, Motor, Life, and General Insurance sectors.

The company’s key executives have over 40 years of combined experience in insurance brokerage and risk management across all insurance classes.

Hilltop, as one of the leading Insurance Brokers in Nigeria, is adequately capitalized and protected with professional indemnity cover of N750 million, as opposed to the industry’s N10 million minimum standard. Hilltop Insurance Brokers is well-structured to provide high-quality services that ensure maximum client satisfaction both locally and internationally.

Address: 44 Abeokuta street, Anifowoshe, off oba akran, Ikeja

Contact: 0802 320 4401

Conclusion on the insurance brokers in Nigeria

Insurance Brokers have experienced risk managers who can advise you on how to manage the risks you face.

Also, Insurance is a component of the overall risk management strategy in that it transfers risk to another party (the insurer) for a fee.

You can reduce premium costs by implementing a risk management program that places some of the responsibility for risk prevention and loss minimization on you or your business.

Frequently Asked Questions (FAQs)

See below for the answers to the questions about the insurance brokers in Nigeria;

  1. In Nigeria, who is in charge of insurance regulation?

The National Insurance Commission (NIC) (NAICOM)

The National Insurance Commission (NAICOM) is Nigeria’s primary insurance industry regulatory body.

  1. What is the purpose of insurance brokers?

An insurance broker acts as a go-between for insurance companies and you. Their purpose is to assist you in obtaining the best insurance at the best price.

They work for clients rather than for insurance companies. That is reason enough to use insurance brokers for all of your insurance needs.

  1. How do I become a Nigerian insurance broker?

The Nigerian Council of Registered Insurance Brokers is the governing body for insurance brokers in Nigeria ( NCRIB).

They provide insurance broker and insurance broker agency licenses. Before you can work as a licensed insurance broker, you must be certified by the NCRIB.

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