Insurance in Nigeria industry profile provides top-line qualitative and quantitative summary information including: market size (value 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Nigeria
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Nigeria
Leading company profiles reveal details of key insurance market players' global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Nigeria insurance market with five year forecasts
Essential resource for top-line data and analysis covering the Nigeria insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Reasons to Buy
What was the size of the Nigeria insurance market by value in 2015?
What will be the size of the Nigeria insurance market in 2020?
What factors are affecting the strength of competition in the Nigeria insurance market?
How has the market performed over the last five years?
What are the main segments that make up Nigeria's insurance market?
The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.
The Nigerian insurance market had total gross written premiums of $1.4bn in 2015, representing a compound annual growth rate (CAGR) of 3.1% between 2011 and 2015.
The non-life Insurance segment was the market's most lucrative in 2015, with total gross written premiums of $1.0bn, equivalent to 72.2% of the market's overall value.
A potential increase in capital requirements for Nigerian insurers is under discussion.
Market value forecast
Market value forecast
Five Forces Analysis
Threat of substitutes
Degree of rivalry
Aiico Insurance PLC
AXA Mansard Insurance plc
Custodian & Allied Plc
Leadway Assurance Company Limited
Related MarketLine research
Figure 1: Nigeria insurance market value: $ billion, 2011-15
Figure 2: Nigeria insurance market category segmentation: % share, by value, 2015
Figure 3: Nigeria insurance market geography segmentation: % share, by value, 2015
Figure 4: Nigeria insurance market value forecast: $ billion, 2015-20
Figure 5: Forces driving competition in the insurance market in Nigeria, 2015
Figure 6: Drivers of buyer power in the insurance market in Nigeria, 2015
Figure 7: Drivers of supplier power in the insurance market in Nigeria, 2015
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Nigeria, 2015
Figure 9: Factors influencing the threat of substitutes in the insurance market in Nigeria, 2015
Figure 10: Drivers of degree of rivalry in the insurance market in Nigeria, 2015
Figure 11: Aiico Insurance PLC: revenues & profitability
Figure 12: Aiico Insurance PLC: assets & liabilities
Figure 13: AXA Mansard Insurance plc: revenues & profitability
Figure 14: AXA Mansard Insurance plc: assets & liabilities
Figure 15: Custodian & Allied Plc: revenues & profitability
Figure 16: Custodian & Allied Plc: assets & liabilities
Table 1: Nigeria insurance market value: $ billion, 2011-15
Table 2: Nigeria insurance market category segmentation: $ billion, 2015
Table 3: Nigeria insurance market geography segmentation: $ billion, 2015
Table 4: Nigeria insurance market value forecast: $ billion, 2015-20
Table 5: Aiico Insurance PLC: key facts
Table 6: Aiico Insurance PLC: key financials ($)
Table 7: Aiico Insurance PLC: key financials (NGN)
Table 8: Aiico Insurance PLC: key financial ratios
Table 9: AXA Mansard Insurance plc: key facts
Table 10: AXA Mansard Insurance plc: key financials ($)
Table 11: AXA Mansard Insurance plc: key financials (NGN)
Table 12: AXA Mansard Insurance plc: key financial ratios
Table 13: Custodian & Allied Plc: key facts
Table 14: Custodian & Allied Plc: key financials ($)
Table 15: Custodian & Allied Plc: key financials (NGN)
Table 16: Custodian & Allied Plc: key financial ratios
Table 17: Leadway Assurance Company Limited: key facts
Table 18: Nigeria size of population (million), 2011-15
Table 19: Nigeria gdp (constant 2005 prices, $ billion), 2011-15
Table 20: Nigeria gdp (current prices, $ billion), 2011-15
Table 21: Nigeria inflation, 2011-15
Table 22: Nigeria consumer price index (absolute), 2011-15
Table 23: Nigeria exchange rate, 2011-15
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Aiico Insurance PLC, AXA Mansard Insurance plc, Custodian & Allied Plc, Leadway Assurance Company Limited
Insurance, Nigeria, MarketLine
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