Leadway Assurance was the leading insurance company in Nigeria by total assets as of 2022

With assets worth ₦536 billion, Leadway Assurance was the leading insurance company by total assets as of 2022 — two times more assets than second-placed AIICO Insurance with ₦270 billion. These are the top ten insurance companies in Nigeria by total
assets as of 2022.

Source:

Intelpoint

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Period:

2022

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South Africa controlled nearly 70% of Africa's $63.6 billion insurance market as of 2023; Nigeria trailed with only 1.7%

South Africa led the continent with a massive 68.2% of Africa’s insurance market, far ahead of all others combined.
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“Others” refers to the rest of Africa, which held just 6.4%, indicating a heavy concentration in a few markets.