Nigeria’s Insurance Sector — Top 10 Chairpersons by Market Capitalisation (as of Jan 29, 2026)Market cap reflects investor valuation of insurers listed on the Nigerian Exchange Limited (NGX).
Combined market cap of these ten firms stood at approx. ₦1.083 trillion. Leadership shapes strategic direction and governance across the sector.
1. Dr. (Mrs.) Omobola Johnson — Chairperson, Custodian Investment PlcLeads Custodian Investment Plc, the largest insurer by market cap in Nigeria. Drives governance and strategic oversight.
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2. Tope Smart — Group Chairman, NEM Insurance PlcHeads NEM Insurance Plc, a major general insurer with strong market cap and revenue growth. Has articulated expansion and investment priorities.
3. Kundan Sainani — Chairman, AIICO Insurance PlcOversees AIICO Insurance Plc, historically one of Nigeria’s largest insurance stocks with diversified life and non-life segments.
4. Kola Adesina — Chairman, AXA Mansard Insurance PlcLeads AXA Mansard, part of the global AXA group. Company among top insurers by revenue and capitalisation.
5. Segun Adebanji — Chairman, Cornerstone Insurance PlcChairs Cornerstone Insurance Plc, a mid-tier composite insurer with notable capital and underwriting footprint.
6. Mutiu Sunmonu — Chairman, Coronation Insurance PlcHeads Coronation Insurance Plc, a general insurer ranked among the top by market cap on the NGX.
7. Dr. Akin A. Ogunbiyi — Chairman, Mutual Benefit Assurance PlcOversees Mutual Benefit Assurance Plc, a long-established insurer with steady growth and service diversification.
8. Alhaji Idris Shuabiu — Group Chairman, Consolidated Hallmark Holdings PlcLeads Consolidated Hallmark, a financial services holding group with insurance subsidiaries recently expanding into life assurance.
9. Abimbola (Abi) Oguntunde — Chairman, Sovereign Trust Insurance PlcChairs Sovereign Trust Insurance Plc, a listed general insurer gaining investor interest through NGX performance
10. Chief Joshua Benard Fumudoh — Chairman, Linkage Assurance PlcHeads Linkage Assurance Plc; appointment in 2018 and guides the firm’s market presence and governance.
Sector Context:Total industry assets reached N4.619 trillion by Q2 2025. Market capitalization valuation provides a clearer picture of investor expectations and the influence of corporate governance in Nigeria’s financial ecosystem.
Source: Nairametrics
