TOP 5 INSURANCE COMPANIES IN AFRICA
Several insurance firms have now begun to focus on and attract more clients in Sub-Saharan Africa. This article contains a list of the top 5 insurance companies that are in Africa.
LIST OF 5 INSURANCE COMPANIES IN AFRICA
1. Firstly, CIC Life Insurance Company
CIC Insurance Group Limited is a Kenya-based Insurance company. The CEO for CIC is one Mr. Patrick Nyaga. They provide insurance and other financial services to their clients, built around their needs. The Company also operates in African countries such as Malawi Uganda and South Sudan.
The full meaning of CIC is Co-operative Insurance Company. According to the Insurance Regulatory Authority, CIC Insurance is the third in market share.
2. Secondly, Absa Life Insurance Company
Absa is a bank with its base in South Africa. This is because they operated in 15 countries across the African continent and even in the UK and USA.
They help you to insure your car, and home, your life, your funeral, and any other legal and financial needs. Absa Insurance has its main objective is helping to keep its clients’ financial future secure.
3. Also, First for Women Insurance Company
First for Women Insurance is an Insurance Group based in South Africa. They have several Insurance packages with a wide range of benefits to cater to the needs of its clients. It was first launched in 2004 to provide insurance support specifically for South African women.
It was the first in the country. The Group first started as a motor Insurance company. However, now it offers a range of non-life and Life Insurance packages designed exclusively for women.
4. Another is the SIC Life Insurance Company
SIC Life Insurance Ltd was originally known as the SIC Insurance company Limited. It is a public limited liability company. The company had more than 14,000 shareholders, and the Government of Ghana is the largest shareholder.
5. Lastly, the Aiico Insurance
Aiico was established in the year 1963 in Nigeria. It provides services such as Life assurance and annuity general Insurance and special risks, and asset management. The company was first registered under the mandate ALICO(American Life Insurance Company Limited).
After the company acquired a 60% stake from the Federal government of Nigeria, it was renamed AIICO – American International Insurance Company Limited. The goal of Aiico is to be the insurer’s choice and one of the leading insurance companies in Nigeria.
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