Nigeria’s insurance premium hits N2.3trn, assets rise to N4.8trn

Nigeria’s insurance industry posted its strongest performance on record in 2025, with Gross Premium Income (GPI) rising above N2.3 trillion and total industry assets increasing to N4.8 trillion, reflecting stronger underwriting capacity, improved claims settlement and expanding market penetration despite a challenging economic environment.
The figures were disclosed by the Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed, during the Association’s 55th Annual General Meeting (AGM), where he described 2025 as a landmark year that cemented insurance’s growing role in Nigeria’s financial services sector.
According to Ahmed, the industry’s record premium income demonst...