Nigeria's insurance industry experienced a 27% growth in Q4 2023, with a gross premium of ₦1.003 trillion.
Nigeria's insurance industry recorded a 27% growth in Q4 2023, reaching a gross premium of ₦1.003 trillion, compared to ₦790 billion in 2022. The industry's total assets rose to ₦2.67 trillion and capitalisation reached ₦851 billion in 2023, according to the National Insurance Commission (NAICOM). The non-life business accounted for 61.3% of all premiums written, while the Life segment contributed 38.7%.
March 26, 2024
4 Articles