Nigeria’s insurance sector experienced notable expansion in the fourth quarter of 2025, with total Gross Premium reaching ₦2.301 billion, according to figures released by the National Insurance Commission (NAICOM).
The report, published on Monday in Abuja, highlighted the positive impact of regulatory reforms designed to deepen the market and encourage broader participation across the industry.
According to the commission, the growth recorded during the period was primarily driven by strong performance in both the non-life and life insurance segments.
The non-life segment, in particular, continued to dominate the market, contributing 68.4% of the total premium maintaining a trend similar to that observed in the same period of 2024.
On the other hand, the life insurance segment accounted for 31.6% of the total premium, supported largely by the expansion of annuity funds and increasing uptake of life policies.
Within the non-life category, the oil and gas segment emerged as the leading contributor, accounting for 30.3% of all premiums generated in that segment. Fire insurance followed as the second-largest contributor, representing 20.4%, while motor insurance made up 16.1% of the total.
Other segments also played a role in the overall performance of the industry. As detailed in the report, “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.
