Nigeria’s insurance industry, despite historically low penetration compared with banking and fintech, has continued to expand in recent years.
According to Nairametrics, Nigeria’s insurance companies held total assets of about N4.6 trillion by mid-2025, a sign of rising investments and stronger balance sheets across the industry.
At the same time, gross premium generation has continued to climb, with insurers recording N769.2 billion in premiums in the first quarter of 2025 alone, one of the strongest quarterly performances on record.
This shows that while insurance still lags behind other financial sectors in scale, its growth trajectory is steadily improving.
Within this evolving landscape, some women are increasingly shaping the direction of the industry.
From executive leadership, underwriting and actuarial services to risk management, female professionals are gaining influence in a sector.
In celebration of International Women’s Day, here are the influential female C-suite executives in Nigeria’s insurance industry.
Here are the women leading the Nigerian insurance sector
Bernice Onyebuchi serves as the Head of Internal Audit at Rex Insurance Limited, where she leads the company’s internal audit functions and ensures robust governance, risk management, and compliance frameworks.
She has a wealth of experience from both the public and private sectors, having coordinated and supervised procurement audits for select Ministries, Departments, and Agencies (MDAs) in Nigeria. Notably, she led the special audit and investigation of the ECOWAS Mission in The Gambia, demonstrating her expertise in complex audit and investigative assignments.
Bernice holds a Bachelor’s degree in Banking and Finance from Olabisi Onabanjo University, Ogun State. She is a Chartered Accountant and holds professional qualifications from both the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants of Nigeria (ICAN).
Her combined academic and professional background equips her with deep insights into financial controls, risk management, and regulatory compliance, strengthening Rex Insurance Limited’s internal audit and governance practices.
