The fourth quarter of 2025 saw an impressive growth in the Nigerian insurance sector, with Gross Premium reaching N2.301 billion.
This is according to a report released by the National Insurance Commission (NAICOM) on Monday in Abuja.
In the report, NAICOM said the performance was reflective
of the ongoing regulatory measures aimed at fostering market deepening.
it said the the growth was largely influenced by the oil and gas business in the non-life and the growing annuity funds in the life segments of the market.
It said the non-life insurance segment led the market, contributing 68.4 per cent to the total premium following its pattern in the corresponding quarter of 2024.
The commission said that Life Insurance business accounted for 31.6 per cent during the period.
It said that in the non-life category, oil and gas business was the leading portfolio, representing 30.3 per cent of all the non-life premiums generated.
It said that fire insurance followed oil and gas with a notable position of 20.4 per cent while motor insurance accounted for 16.1 per cent.
“Miscellaneous, General Accident, Marine and Aviation businesses also contributed 11.9 per cent, 9.5 per cent, 8.7 per cent and 3.2 per cent respectively,” it said.
