Top 10 Highest Paying Insurance Companies In Nigeria & Salaries (2024)

The insurance industry in Nigeria has seen significant growth and transformation over the past few years. With an increasing awareness of the importance of insurance and a growing middle class, the demand for insurance products has surged. This growth has also led to more competitive salaries and benefits within the industry as companies vie to attract top talent. Here, we look at the top 10 highest-paying insurance companies in Nigeria in 2024, highlighting their salary structures and what makes them stand out.

1. AXA Mansard Insurance

• Average Salary: ₦8,000,000 - ₦12,000,000 per annum

AXA Mansard is a subsidiary of the global AXA Group, and it consistently ranks as one of the highest-paying insurance companies in Nigeria. Known for its comprehensive range of insurance products, AXA Mansard offers competitive salaries, performance bonuses, and extensive employee benefits, including health insurance and professional development programs.

2. AIICO Insurance Plc

• Average Salary: ₦7,500,000 - ₦11,000,000 per annum

AIICO is one of Nigeria’s leading insurance companies with a strong market presence. The company offers attractive salary packages and numerous benefits, including health insurance, pension schemes, and opportunities for career advancement through various training programs.

3. Leadway Assurance Company Limited

• Average Salary: ₦7,000,000 - ₦10,500,000 per annum

Leadway Assurance is renowned for its robust financial services and a broad range of insurance products. The company provides competitive salaries, performance incentives, and comprehensive employee benefits that include health coverage, life insurance, and retirement plans.

4. Custodian and Allied Insurance Limited

• Average Salary: ₦6,800,000 - ₦10,000,000 per annum

Custodian and Allied Insurance is known for its strong corporate governance and innovative insurance solutions. Employees benefit from competitive salaries, health insurance, housing allowances, and significant opportunities for professional growth and development.

5. Mutual Benefits Assurance Plc

• Average Salary: ₦6,500,000 - ₦9,500,000 per annum

Mutual Benefits Assurance offers a range of insurance products tailored to meet the diverse needs of its customers. The company provides attractive salary packages, performance-based bonuses, and a host of benefits, including health insurance and pension schemes.

6. NEM Insurance Plc

• Average Salary: ₦6,200,000 - ₦9,000,000 per annum

NEM Insurance has been a significant player in the Nigerian insurance market, known for its reliability and comprehensive insurance solutions. Employees enjoy competitive salaries, health benefits, and opportunities for career advancement through various training and development programs.

7. Zenith General Insurance Company Limited

• Average Salary: ₦6,000,000 - ₦8,500,000 per annum

Zenith General Insurance, a subsidiary of Zenith Bank Plc, is known for its robust financial backing and extensive range of insurance products. The company offers competitive salaries, performance incentives, health insurance, and professional development opportunities.

8. Cornerstone Insurance Plc

• Average Salary: ₦5,800,000 - ₦8,000,000 per annum

Cornerstone Insurance is recognized for its innovative products and customer-centric approach. The company provides its employees with competitive salaries, health insurance, pension schemes, and significant opportunities for professional growth and development.

9. Sovereign Trust Insurance Plc

• Average Salary: ₦5,500,000 - ₦7,800,000 per annum

Sovereign Trust Insurance offers a wide range of insurance products and services. Employees benefit from attractive salary packages, performance bonuses, health insurance, and opportunities for career advancement through continuous training and development programs.

10. Guinea Insurance Plc

• Average Salary: ₦5,200,000 - ₦7,500,000 per annum

Guinea Insurance is one of the oldest insurance companies in Nigeria, known for its reliability and comprehensive insurance solutions. The company provides competitive salaries, health benefits, housing allowances, and opportunities for professional growth and development.

Conclusion

The Nigerian insurance industry offers numerous opportunities for career advancement, with many companies providing competitive salaries and extensive benefits to attract and retain top talent. The top 10 highest-paying insurance companies in Nigeria in 2024 reflect a commitment to employee welfare and professional development, making them desirable employers in the financial services sector. Whether you are a seasoned professional or a fresh graduate, these companies offer an environment conducive to growth, innovation, and career satisfaction.