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
Mrs. Justina Ibe serves as the Chief Compliance Officer at Universal Insurance Plc, overseeing the company’s administrative and compliance functions to ensure adherence to regulatory standards and internal policies.
She holds an HND in Accountancy from the Institute of Management and Technology (IMT), Enugu, and a Master’s in Business Administration (MBA) from the University of Ado-Ekiti, Ekiti State. She is also a member of the Institute of Cost Management, Nigeria.
Mrs. Ibe began her career at Gold Standard Insurance Ltd before briefly joining Jimbei Motors Ltd in 2004 as Accounts Manager. In 2006, she joined Universal Insurance Plc as Senior Superintendent, Accounts, and steadily rose through the ranks.
She was promoted to Senior Manager in the Accounts Department, where she also assumed responsibilities as the company’s Compliance Officer. In 2019, she was appointed Assistant Controller, Accounts and Admin Manager.
