Nigeria’s insurance sector recorded strong growth in the fourth quarter of 2025, with gross premium rising to N2.301 billion, driven largely by oil and gas business and expanding annuity funds.
The figures were contained in a report released by the National Insurance Commission in Abuja on Monday.
According to the commission, the performance reflects the impact of ongoing regulatory measures aimed at deepening the insurance market and improving industry stability.
NAICOM said the non-life segment dominated the market, contributing 68.4 per cent of the total premium, consistent with trends recorded in the same period of 2024.
The life insurance segment accounted for the remaining 31.6 per cent, supported by growth in annuity funds.
A breakdown of the non-life business showed that oil and gas insurance remained the leading portfolio, accounting for 30.3 per cent of total non-life premiums.
Fire insurance followed with 20.4 per cent, while motor insurance contributed 16.1 per cent.
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Other segments also made notable contributions, with miscellaneous business accounting for 11.9 per cent, general accident 9.5 per cent, marine 8.7 per cent and aviation 3.2 per cent.
The commission noted that the sustained growth underscores the effectiveness of regulatory reforms and highlights the importance of key sectors such as oil and gas in driving premium generation within the industry.
