The Nigerian insurance industry is set for another major celebration as top companies and industry leaders have been shortlisted for the 2025 Almond Insurance Industry Awards. The nominees were officially unveiled at a press conference in Lagos, signalling the commencement of voting for this year’s edition.
The 2025 awards recorded an unprecedented number of entries, with more than 900 nominations submitted across various categories before the panel of judges, chaired by Ms Prisca Soares, arrived at the final shortlist.
In the life insurance company category, Leadway Assurance, AIICO Insurance, AXA Mansard Insurance, Capital Express Assurance, and Cornerstone Insurance were nominated. These firms have been recognised for their consistent service delivery and commitment to providing life insurance solutions to Nigerians.
For the general insurance company category, the nominees include Leadway Assurance, NEM Insurance, Mutual Benefits Assurance, Custodian & Allied Insurance Company Limited, and AXA Mansard Insurance. These companies are known for offering a wide range of general insurance products, from motor and property to health and travel cover.
The insurance broking company of the year category features SCIB Nigeria & Co, FSL Insurance Brokers, Hogg Robinson Nigeria, Ark Insurance Brokers, and YOA Insurance Brokers. These brokerage firms play a crucial role in connecting clients to insurers and ensuring they get the best policies for their needs.
In the Insurance CEO category, some of the industry’s most notable leaders made the list. They include Babatunde Fajemirokun, Chief Executive Officer of AIICO Insurance; Olufemi Asenuga, Managing Director/CEO of Mutual Benefits Assurance; Ebelechukwu Nwachukwu, CEO of Rex Insurance; Olamide Olajolo, CEO of Coronation General Insurance; and Kunle Ahmed, CEO of AXA Mansard Insurance.
Other categories in the awards include Insurance Broker of the Year, Most Valuable Insurance Customer, and several others designed to recognise excellence across the insurance value chain.
Speaking during the press conference, Ms Soares explained that the winners will be determined using three key components: voting by the public (10 per cent), the decision of the panel of judges (10 per cent), and collated data from the National Insurance Commission (NAICOM), which accounts for the remaining 80 per cent. This method, according to her, ensures that the awards are credible and reflective of actual industry performance.
Voting, which has already started, is free but restricted to one vote per category for each individual or company. The process will close on September 5, 2025, after which the judges will finalise results ahead of the Awards Nite scheduled for November 7, 2025, at Surulere, Lagos. The event will not only announce winners but also celebrate the resilience and achievements of the insurance industry.
The Annual Almond Insurance Industry Awards and Consumers’ Nite was launched in 2018 to reward the dedication and innovative spirit of professionals in the insurance sector. The organisers say the event also seeks to encourage more Nigerians to embrace insurance products, despite the challenges of low awareness and trust that have historically affected the sector.
The awards are seen as an important platform for recognising outstanding service and inspiring more innovation in the industry. With the 2025 edition attracting a record number of nominations, stakeholders believe it reflects the growing competitiveness and determination among Nigerian insurance firms to deliver better value to customers.
