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Life insurance leads Nigeria’s insurance market with ₦276.8 billion in premiums
  • Life insurance dominates the market with ₦276.8 billion in gross premiums, more than any other sector.
  • Oil and Gas insurance follows as the second-largest segment, generating ₦188.7 billion in Q1.
  • Fire and Motor insurance sectors contributed ₦91.9 billion and ₦77.7 billion respectively, reflecting strong demand.
  • Aviation insurance recorded the least income at ₦16.6 billion, likely due to the limited scope of operations.
  • The top three segments (Life, Oil & Gas, and Fire) jointly account for over 75% of the total GPI in the quarter.

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