According to the 2016 annual report of non-life business posted on the website of the National Insurance Commission (NAICOM), Leadway Assurance Company Limited leads the industry with 10.69 per cent market share of N201.10 billion industry gross premium income.
Fifteen out of the 43 non-life insurance companies in Nigeria have less than one per cent of the industry’s market. The 15 companies have remained under the radar and are relatively anonymous to the business community, raising concerns about their ability to shore up capital and take on more risk.
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