There are several insurance companies in Africa today but selecting the best from the horde is where the problem lies. There are many persons out there looking for the Best Insurance Companies in Africa but they don’t know how to identify the best. Today, we want to help our fans with the top 10 Best Insurance Companies in Africa countries ranking.
There are several means/ indices to pick the Best Insurance Companies in Africa and i will be listing them out for you. The basic criteria for picking the best Insurance Companies in your country is a good track of good insurance service , They must be known to the public, They should have a track record, They must have testimonials from old customers . Picking from them require you to put some factors into consideration , factors like reliability, integrity, and quick response of the insurance firm . One other thing is that the insurance company must be well known to the entire public with a good track record .
Also Read: Insurance Business in Africa today
Insurance Companies In Nigeria (Top 10)
1. Acen Insurance Company
THis insurance company is a composite insurer , they offers life and non-life policies . They are known for good insurance service right from their day one . Acen Insurance Company have a good track record which makes them the best in Nigeraia 2016 .
2. Adic Insurance
This company Insurance offer services that covers ereas like personal, Car, Home and Life Insurance .
3. African Alliance Insurance Company Ltd.
This insurance company occupying the third spot has been synonymous with trusthworthyness , good response to customer call and good reputation
4. Aiico Insurance Plc
Aiico Insurance Plc is the best life insurance company in Nigeria and they are also the largest Life Insurer in Nigeria and a major player in General Insurance business. They company has been able to attain it current status because it has been able to evaluate its potentials, set realistic goals and take necessary actions to achieve them. They have a long term strategies to achieve their set goals but objective and strategies might be altered , this organisation’s plans is reviewed from time to time in order to achieve set goals .
5. A&G Insurance
A&G Insurance has not less than 20 years of experience in the business . They have been using this long experience to satisfy customers in areas of safety , efficiency and innovation . They are good in rist management and great solutions provider.
6. Consolidated Hallmark Insurance
At the sixth spot is another nice Nigerian insurance comany called Consolidated Hallmark Insurance Plc. It is a high-profile, technology-driven and customer oriented company conceived by its stakeholders to be among the first five risk underwriters in Nigeria within a very short period of time.
7. Continental Reinsurance
Continental was registered in 1985 as a professional reinsurance company under the Companies Act 1968 and obtained license to transact Non-Life Reinsurance business on December 10, 1986. It commenced business in January, 1987. Life Reassurance business was commenced in January 1990, the requisite license having been obtained in September 1989. In 1999, Continental Re was converted to a Public Limited Company (PLC).
8. Cornerstone Insurance PLC
Cornerstone is a dynamic insurance company, offering services in line with modern realities. The Company was at inception registered to undertake some classes of Insurance business.
9. Crusader Insurance Plc
Crusader insurance (Nigeria) Plc is a highly reputable and respected company known for its efficient service delivery and prompt claims settlement. It has a national network of branches and full computerization and a crop of experienced and highly competent professional staff back up its operations.
10. Custodian Insurance Plc
Custodian Insurance Plc is placed among the top 10 insurance companies in Nigeria 2016 , it stands out among the competition. Don’t forget that there are other Nigerian insurance companies that are also equal to the task but we only picked the first ten .
The Top 10 Insurance Companies In Kenya
in spite of a wealth of insurance packages and agents, a situation that leads to both health and financial problems for the uninsured in the event of accident or emergency. Kenya has 46 insurance companies and 4,576 registered insurance agents, yet a paltry 3 percent of Kenyans have insurance cover. This is in sharp contrast to countries like South Africa, with a 9 percent penetration or Malaysia, which has an estimated 41 percent of the population covered by some form of life insurance. Studies have shown the uninsured people are less likely to seek medical attention for fear of high bills, yet those uninsured that do suffer injuries or illnesses are far more likely to pay more for any eventual healthcare or suffer serious repercussions from their ailments. Tom Jackson takes a look at the ten best options available to Kenyans seeking insurance.
Jubilee Insurance Company Limited
This leading East African insurance company has its headquarters in Nairobi. It has a strong financial ground and more than 70 years or experience. This company is the first amalgamated insurer in East Africa and Kenya and number one in medical insurance. It has plans to extend into other 12 countries in Africa in the coming three years. At the moment it has 8 branches spanning in the state. It was listed on Nairobi Stock exchange in 1984 and cross listed in 2005.
Kenindia Assurance Company
In 1978, Indian insurance companies operating in Kenya decided to amalgamate and form a vibrant joint scheme which had ethical and financial maintenance from the local trade elite. Thus the Kenindia Assurance Company Limited was formed. After 1979 the following became main shareholders: Life insurance Corporation of India with 10.21 percent, New India Insurance Company with 9.9 percent, General insurance Corporation of India 9.19 percent, and National Insurance Company Ltd 9.19 percent shares. Ever since, Kenindia has developed from strength to strength in becoming a guiding household name in Kenya.
British American Insurance Company
British American Insurance Company Ltd is an expanded financial services grouping in Kenya offering vast range of asset and insurance services to individuals, government entities, small entrepreneurs and corporations. This group has been providing extended heritage financial services from 1920. The business was recognised in 1965 and has experienced major growth over the past few years.
Pan Africa Insurance Holdings
Pan Africa insurance Company was established in Mombasa in 1947, and has since become the first insurance company to be listed on the NSE. Pan Africa General Insurance limited and Apollo Insurance Company Limited merged in 2003 to form APA Insurance Company Limited. Pan Africa Insurance Holdings Limited was restructured in 2004 after the merger to form two wholly owned subsidiaries. These subsidiaries are Pan Africa Life Assurance Limited dealing with life business and PA Securities which owns a 40 percent stake in APA Insurance, a 100 percent stake in Mae Properties and a 25 percent stake in Runda Water.
Heritage Insurance Company
Heritage provides short term insurance services of claim payments. Heritage came about when Norwich Union Fire Insurance together with Legal and General Insurance Societies started business in Kenya, merging their ideas and interests to form Heritage. Later, the shareholding was bought by local shareholders making its ownership fully Kenyan. In the mid-1990s, Heritage joined forces with African International Insurance Company and obtained its new name, Heritage African International insurance company.
APA Insurance Services
APA provides professional liability packages and general liability policies together with but not strictly limited to rental equipment and/or photo equipment. Some of the other packages available are: Umbrella, compensation of workers, auto commercial and employment practices liability services.
Insurance Company of East Africa (ICEA)
Insurance Company of East Africa (ICEA) is a member of the First Chartered Securities Group. This is a leading savings and trading group which has interests in varied sectors found locally in Kenya. These sectors include insurance, banking, manufacturing shipping, property and agriculture. It has branches spread all over Kenya; Nairobi, Kisumu, Nyeri, Mombasa, Nakuru and Eldoret.
Blue Shield Insurance Company
Blue Shield has been rated amongst the top 10 insurance companies due to its high degree of provision of insurance products, which include general insurance, agricultural insurance and life insurance.
UAP Provincial Insurance Company
Located in Nairobi, UAP is a life insurance firm. It is one of the leading companies in Kenya having been in operation for 70 years. It has established branches in Uganda and South Sudan and a big network of branches all over Kenya. It offers products such as life insurance, tailored insurance, commercial insurance and personal insurance. It also covers healthcare, marine and pension.
Co-operative Insurance Company
CIC insurance was found in 1978 and formerly known as Co-operative Insurance Services Ltd. The name change in 1999 was part of a market repositioning strategy, changing the then small insurance company into a respected and well known firm in Kenya. It offers general and life insurance products.
Also Read How to make money from Insurance
INSURANCE COMPANIES IN South Africa
Top 10 biggest insurers in the 2015
| # | Company | share |
|---|---|---|
| 1 | Santam | 24% |
| 2 | Hollard | 11% |
| 3 | Mutual & Federal | 10% |
| 4 | Guardrisk | 8% |
| 5 | Outsurance | 7% |
| 6 | Telesure | 6% |
| 7 | Absa | 4% |
| 8 | Zurich | 4% |
| 9 | AIG | 3% |
| 10 | Standard Insurance | 2% |