Nigeria’s insurance industry is witnessing gradual transformation as more female professionals assume strategic leadership roles across underwriting, finance, risk management, and corporate governance. Despite historically low penetration compared with sectors such as banking and fintech, the industry has continued to expand steadily in recent years.
Nairametrics Industry data indicates that Nigerian insurance companies held total assets of about ₦4.6 trillion by mid-2025, reflecting stronger balance sheets and increasing investments across the sector. In addition, insurers generated ₦769.2 billion in gross premiums in the first quarter of 2025, one of the strongest quarterly performances recorded by the industry.
Within this evolving landscape, a number of women are emerging as key decision-makers helping to shape strategy, drive innovation, and strengthen corporate governance in Nigeria’s insurance ecosystem. Their influence cuts across executive leadership, actuarial services, underwriting, compliance, marketing, and financial management.
Among the notable executives highlighted are Ngozi Temitope Ola-Israel, Chief Financial Officer at AXA Mansard Insurance Plc, who leads the company’s financial strategy and previously served as Chief Data Officer overseeing enterprise-wide digital transformation initiatives. She began her career at PwC, where she worked on financial audits for banks, insurance firms, and pension administrators before rising through the ranks within the insurance industry.
Other influential women shaping the sector include Dr. Adaobi Nwakuche, Managing Director and Chief Executive Officer of Veritas Kapital Assurance Plc; Jacqueline Uche Agweh, Managing Director/CEO of SanlamAllianz General Insurance Nigeria Limited; and Bimbo Onakomaiya, Managing Director/CEO of PeakThrust Insurance Brokers Limited.
The list also features Bisola Elias, Chief Financial Officer at AIICO Insurance Plc; Mary Adeyanju, Managing Director/CEO of Consolidated Hallmark Insurance Limited; Dr. Funmi Babington-Ashaye, Managing Director/CEO of Risk Analyst Insurance Brokers Limited; and Nomwen Emeghalu, CEO of Fortis Global Insurance Plc.
Additional executives include Ifesinachi Okoli-Okpagu, Chief Marketing Officer at Heirs Insurance Group; Yemisi Rotimi, Chief Financial Officer of Leadway Assurance Company Limited; Ekeoma Ezeibe, Managing Director/CEO of Crystal Trust Insurance Brokers Limited; Bernice Onyebuchi, Chief Audit Executive at Rex Insurance Limited; and Justina Ibe, Chief Compliance Officer at Universal Insurance Plc.
Their growing presence in executive and leadership positions reflects a gradual shift in Nigeria’s insurance sector, where women are increasingly influencing strategic direction, strengthening operational governance, and contributing to the sector’s long-term growth and modernization.
1. Ngozi Temitope Ola-Israel
2 .Dr. Adaobi Nwakuche,
3. Jacqueline Uche Agweh,
4. Bimbo Onakomaiya,
5. Bisola Elias,
6. Mary Adeyanju,
7. Dr. FunmBabington-Ashaye,
8. Nomwen Emeghalu,
9. Ifesinachi Okoli-Okpagu,
10. Yemisi Rotimi,
11. Ekeoma Ezeibe,
12. Bernice Onyebuchi,
13. Justinana Ibe
Source: Nairametrics
