Nigeria's Insurance Premium Reaches N2.3bn in Q4 2025

The National Insurance Commission (NAICOM) reported that Nigeria's insurance sector gross premium hit N2.301 billion in the fourth quarter of 2025. This growth reflects ongoing regulatory measures aimed at fostering market depth.

The non-life insurance segment led the market, contributing 68.4% of the total premium, with the oil and gas business accounting for 30.3% of non-life premiums. In comparison, life insurance business represented 31.6% of the total premium during this period.

Notably, fire insurance ranked second among non-life categories, generating 20.4% of the premium, while motor insurance accounted for 16.1%. Other contributors included miscellaneous general accident and marine aviation businesses, which contributed 11.9% and 9.5%, respectively.

This data underscores the significant role of the oil and gas sector in Nigeria's insurance landscape.