Insurance plays a vital role in Nigeria’s financial ecosystem by providing coverage for individuals and businesses.
As the industry grows, several insurance companies stand out not just for their market dominance but also for offering competitive salaries and benefits that attract top talent.
This blog post highlights the highest-paying insurance companies in Nigeria in 2025, their salary ranges, job requirements, available opportunities, and how to apply.
Top 7 Highest-Paying Insurance Companies in Nigeria
AXA Mansard Insurance
Average Salary: ₦7,000,000 – ₦11,000,000 per year.
AXA Mansard, a subsidiary of the global AXA Group, offers competitive salaries and attractive employee benefits, including healthcare, pension schemes, and continuous professional development programs.
Custodian and Allied Insurance
Average Salary: ₦6,800,000 – ₦10,000,000 per year.
This company is known for providing comprehensive insurance products and career advancement opportunities. Employees benefit from housing allowances, health coverage, and performance-based bonuses.
Mutual Benefits Assurance Plc
Average Salary: ₦6,500,000 – ₦9,500,000 per year
Mutual Benefits Assurance provides life, health, and general insurance services and is recognized for fostering career growth and offering generous pension schemes and bonuses.
NEM Insurance Plc
Average Salary: ₦6,200,000 – ₦9,000,000 per year
NEM Insurance offers a variety of insurance products, including marine, motor, and fire insurance. Employees enjoy competitive salaries alongside performance bonuses and pension contributions.
Zenith General Insurance
Average Salary: ₦6,000,000 – ₦8,500,000 per year
Backed by Zenith Bank, this insurer provides financial stability and structured career paths, making it a popular choice among insurance professionals.
AIICO Insurance
Average Salary: ₦5,500,000 – ₦8,000,000 per year.
Known for its strength in life insurance and pensions, AIICO also offers professional growth and learning opportunities through its leadership programs.
Leadway Assurance
Average Salary: ₦5,000,000 – ₦7,500,000 per year
One of Nigeria’s most established insurers, Leadway provides a wide range of insurance solutions, and its employees benefit from health insurance, transport allowances, and flexible work arrangements.
Job Requirements in Insurance Companies
Most insurance companies in Nigeria seek professionals who have a background in finance, business administration, economics, or law.
However, roles in sales, customer service, and IT are also in demand. Essential skills include:
- Strong analytical and problem-solving abilities.
- Good communication and negotiation skills.
- Familiarity with risk management principles.
- Proficiency in relevant software like Excel and CRM tools.
Some companies also require certifications like the Chartered Insurance Institute of Nigeria (CIIN) qualification or its international equivalents.
Who Can Work in an Insurance Company?
Insurance companies employ a diverse range of professionals. You can apply if you have expertise in:
- Sales and Marketing: To promote policies and expand customer reach
- Actuarial Science: For risk assessment and data analysis
- Customer Service: To address client needs and improve retention
- Finance and Accounting: For managing cash flow and investments
- Information Technology: For building digital platforms and supporting operations
Whether you are fresh out of university or an experienced professional, insurance companies in Nigeria offer multiple career paths.
Current Job Openings and Internship Programs
Companies such as AXA Mansard, Custodian, and AIICO frequently announce job openings and internship programs. To find these opportunities:
Company websites: Visit their careers page regularly.
Job boards: Websites like LinkedIn, Jobberman, and MyJobMag list insurance job vacancies.
Internships: Some firms, including AIICO and Leadway, run graduate trainee programs to train new employees for future leadership roles.
How to Apply for Insurance Jobs
Here are steps to increase your chances of landing a job in an insurance firm:
- Prepare your CV: Highlight relevant experience and qualifications.
- Write a Cover Letter: Tailor it to the company and the specific role.
- Apply online: Submit your application through the company’s career portal or via job boards.
- Follow up: Send a polite email if you do not get a response within a few weeks.
- Prepare for Interviews: Familiarize yourself with common insurance-related interview questions.
FREQUENTLY ASKED QUESTIONS (FAQs)
1. What are the benefits of working in an insurance company?
Employees enjoy benefits such as health insurance, pension contributions, housing allowances, and performance bonuses. Additionally, many companies provide opportunities for professional development and career growth.
2. What is the highest-paying insurance job in Nigeria?
Managerial roles, particularly in sales, underwriting, or finance, often come with the highest salaries. Actuarial positions also offer competitive pay due to the specialized skill set required.
3. Do insurance companies in Nigeria offer remote work?
Some firms have embraced hybrid or flexible working models, especially after the pandemic. However, roles like customer service may still require physical presence.
4. Can fresh graduates apply to insurance companies?
Yes, many insurance firms run graduate trainee programs to equip young professionals with the necessary skills and industry knowledge.
5. How can I advance my career in the insurance industry?
Earning certifications, such as those from the CIIN, and gaining experience in diverse roles can help you move up the ladder. Networking and continuous learning are also essential for career growth.
Conclusion
The Nigerian insurance industry offers lucrative opportunities for both experienced professionals and fresh graduates.
With competitive salaries, generous benefits, and multiple career paths, companies like AXA Mansard, Custodian, and Mutual Benefits Assurance stand out as top employers.
Whether you are seeking a full-time role or an internship, now is a great time to explore the dynamic world of insurance in Nigeria.
Stay proactive, keep your resume updated, and take advantage of graduate trainee programs and job portals to find the right opportunity for you.
The financial and career rewards in the insurance sector are substantial, making it a promising career choice in (2025).
This blog post combines insights from industry trends and salary data to ensure that you have accurate, up-to-date information about the top-paying insurance companies in Nigeria.