🇳🇬NigeriaWest Africa
Nigerian insurance sector achieves N2.301 billion gross premium in Q4 2025
via Punch Nigeria1 min read
Nigeria's insurance sector recorded a gross premium of N2.301 billion in the fourth quarter of 2025, as reported by the National Insurance Commission NAICOM on Monday in Abuja. This growth is attributed to ongoing regulatory efforts to deepen the market. The non-life segment, particularly the oil and gas business, and the life segment, driven by increasing annuity funds, were key contributors. The non-life insurance segment led the market, accounting for 68.4 percent of the total premium, consistent with its performance in Q4 2024. Life insurance business made up 31.6 percent. Within the non-life category, oil and gas business was the top performer, generating 30.3 percent of all non-life premiums. Fire insurance followed with 20.4 percent, and motor insurance contributed 16.1 percent. Miscellaneous, General Accident, Marine, and Aviation businesses contributed 11.9 percent, 9.5 percent, 8.7 percent, and 3.2 percent, respectively.
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