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.

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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

Ngozi Temitope Ola-Israel- CFO AXA Mansard 

Ngozi Temitope Ola‑Israel leads the finance strategy of AXA Mansard Insurance Plc, one of Nigeria’s largest insurance providers.

She was appointed Chief Financial Officer in 2017 after serving as Group Head of Financial Control, becoming one of the key executives responsible for steering the company’s financial management during a period of transformation in Nigeria’s insurance sector.

In addition to her finance leadership role, she also served as Chief Data Officer between 2019 and 2024, overseeing enterprise-wide data strategy and digital transformation initiatives across the organisation.

Ola-Israel began her professional career at PwC, where she spent over six years working on financial statement audits for financial services institutions, including banks, insurance firms, pension administrators, and asset managers.

She also serves as a Non-Executive Director at AXA Mansard Investments and APD, contributing to board-level oversight and corporate governance across the group.

Dr Adaobi Nwakuche- Managing Director / CEO Veritas Kapital Assurance plc 

Adaobi Nwakuche leads Veritas Kapital Assurance Plc as Managing Director and Chief Executive Officer.

As MD/CEO, she is responsible for the day-to-day management of the business, driving initiatives aimed at strengthening profitability, expanding market reach, and delivering sustainable returns for shareholders.

Nwakuche holds a Bachelor’s degree in Government and Public Administration from Abia State University and an MBA from ESUT Business School. She also earned a doctorate in Insurance, Risk Management and Corporate Governance from European American University.

She has more than two decades of experience in the insurance industry, spanning strategic partnerships, business development, marketing, and executive management.

Before joining Veritas Kapital Assurance, Nwakuche served as the pioneer Managing Director and Chief Executive Officer of Heirs Insurance Limited.

Her career also includes Executive Director at Heirs Holdings and Director of the Commercial Division at Equity Assurance Plc, alongside earlier positions at STACO Insurance Plc and Standard Alliance Insurance Plc.

She is a member of the Chartered Insurance Institute of Nigeria and the Chartered Insurance Institute, and a Fellow of the Chartered Institute of Administrators and an alumna of Harvard Kennedy School and Lagos Business School.

Jacqueline Uche Agweh -MD/CEO SanlamAllianz General Insurance Nigeria Limited

Jacqueline Uche Agweh is the Managing Director and Chief Executive Officer of SanlamAllianz General Insurance Nigeria Limited.

She has more than three decades of experience across multiple segments of Nigeria’s insurance industry.

She was appointed substantive MD/CEO on February 11, 2026, after previously serving as Executive Director in charge of Technical Operations at the company.

Before her current role, she held senior management positions across several insurance institutions, including FBN General Insurance, now part of Sanlam General Insurance, as well as Oasis Insurance Plc, Kelsan Insurance Brokers Limited, and ACEN Insurance Company Limited.

She holds a Bachelor of Science degree in Insurance from the University of Lagos and is a Fellow of the Chartered Insurance Institute of Nigeria. She is also an alumna of Lagos Business School, where she completed the Senior Management Programme.

Beyond her executive responsibilities, Agweh has played an active role within industry bodies, serving on several committees of the Nigerian Insurers Association. Her contributions include chairing the Sub-Committee on Outstanding Claims and leading the Motor Technical Committee Retreat in 2022, efforts aimed at strengthening claims management standards and technical practices across Nigeria’s insurance industry.

Bimbo Onakomaiya- MD/CEO PeakThrust Insurance Brokers Limited 

Bimbo Onakomaiya is the Managing Director and Chief Executive Officer of PeakThrust Insurance Brokers Limited. She has three decades of experience across consulting and insurance brokerage within Nigeria’s financial services sector.

Onakomaiya founded PeakThrust Insurance Brokers in 2003 and has since overseen the firm’s growth as an advisory and brokerage platform providing risk management and insurance solutions to corporate and individual clients.

She holds a Bachelor’s degree in Economics from Obafemi Awolowo University and a Master’s degree in Management and Technology from the University of Wales, educational foundations that have supported her long career in insurance leadership and advisory.

Onakomaiya began her career in the United Kingdom with Hill Samuel Life Assurance Limited before returning to Nigeria to join NICON Insurance Plc, where she worked for a decade and rose to the role of Manager in Marine Underwriting. She later worked with Andersen Consulting and held senior management roles at UNIC Insurance Plc, where she served as Assistant General Manager in operations and oil and energy insurance.

She currently serves on the Governing Council of the Chartered Insurance Institute of Nigeria and previously served on the Governing Council of the Nigerian Council of Registered Insurance Brokers. She is also President of the Professional Insurance Ladies Association and Country Director of the African Insurance Women’s Association.

Bisola Elias- CFO AIICO Insurance Plc

Bisola Elias oversees the financial strategy of AIICO Insurance Plc as Chief Financial Officer. She joined AIICO in 2007 following the merger between AIICO Insurance and Nigerian French Insurance Plc, where she had earlier begun her career in the sector.

Over the years, she has held several key finance roles within the organisation, rising through the ranks from Finance Executive to Finance Manager, Head of Accounting and Financial Reporting, and later Financial Controller before assuming the CFO role.

Known for her strong background in finance operations and risk management, she has helped guide the company’s financial planning and reporting processes while supporting efforts aimed at improving efficiency and profitability.

Elias is a Fellow of the Institute of Chartered Accountants of Nigeria. She holds an MBA in Risk Management from the University of Cumbria and is an alumna of Lagos Business School. She also earned a Higher National Diploma in Accountancy from Moshood Abiola Polytechnic.

Mary Adeyanju – MD/CEO Consolidated Hallmark Insurance Limited

Mary Adeyanju is the Managing Director and Chief Executive Officer of Consolidated Hallmark Insurance Limited.

She has more than two decades of experience in Nigeria’s insurance sector and has developed deep expertise in operations management, regional leadership, and business development.

Adeyanju joined Consolidated Hallmark Insurance in 2004 and has held several key leadership positions, including Controller, Regional Director for Lagos/West, and Executive Director of Operations.

Before joining Consolidated Hallmark, she gained extensive industry experience with First Chartered Insurance Company Ltd and Carrier Insurance Brokers, where she served as Regional Director and Assistant General Manager.

Earlier in her career, she held marketing and business development leadership roles at Boof & Co. Insurance Brokers, providing a strong foundation in client relationship management and brokerage operations.

Adeyanju is a Fellow of the Chartered Insurance Institute of Nigeria and holds an MBA in Marketing from Lagos State University.

She also earned a Bachelor of Arts degree in Theatre Arts from the University of Jos and a diploma in insurance from Ahmadu Bello University.

Dr. Funmi Babington-Ashaye, MD/CEO Risk Analyst Insurance Brokers Limited 

Funmi Babington-Ashaye is the Managing Director and Chief Executive Officer of Risk Analyst Insurance Brokers Limited.

Before her current role, Babington-Ashaye held leadership positions as Managing Director and CEO at Cornerstone Insurance Plc and NICON Insurance Plc, where she played key roles in shaping operational strategy and corporate growth. She has over three and a half decades of experience across Nigeria’s insurance industry.

Babington-Ashaye is a Fellow of the Chartered Insurance Institute of Nigeria and the Chartered Insurance Institute, as well as a Fellow of the Chartered Institute of Insurance Brokers and the Institute of Directors Nigeria. She holds a Master’s in Entrepreneurship from the Massachusetts Institute of Technology and is an alumna of the Lagos Business School.

Babington-Ashaye has also served as President and Chairman of the Council of the Chartered Insurance Institute of Nigeria. She also holds an honorary doctorate in Leadership and Community Development from ESAE Benin University and is a Doctoral Fellow of the International Certified Risk Management Professionals, UK.

Nomwen Emeghalu- CEO Fortis Global Insurance Plc 

Nomwen Emeghalu leads Fortis Global Insurance Plc as Managing Director and Chief Executive Officer, a role she assumed on August 27, 2025.

Emeghalu began her career in 1994, gaining foundational experience in operations, marketing, and corporate management.

Over the years, she has held leadership positions, including Deputy General Manager of Corporate Marketing at Mutual Benefits Assurance Plc, Senior Manager roles at AIICO Insurance Plc and Admiral Insurance Ltd, and Managing Director at UTIB Insurance Broker, before taking the helm at Fortis Global Insurance.

Emeghalu holds a Bachelor of Education, an MBA, and completed the Advanced Management Programme (AMP 25) at the Lagos Business School, equipping her with both strategic and operational expertise to drive growth and innovation in the Nigerian insurance sector.

She is a Fellow of the Chartered Insurance Institute of Nigeria and the Risk Managers Society of Nigeria.

Ifesinachi Okoli-Okpagu- CMO Heirs Insurance Group 

Ifesinachi Okoli-Okpagu serves as Chief Marketing Officer at Heirs Insurance Group, where she leads the marketing, communications, and brand strategy for the group’s insurance businesses.

With more than 15 years of experience across technology, financial services, hospitality, media, philanthropy, and energy, she has built a strong reputation for driving business growth and brand transformation in emerging markets.

She also holds the role of Group Chief Marketing Officer for the retail portfolio of Heirs Holdings, where she oversees marketing strategy across several group companies, including United Capital Plc, Avon HMO, Avon Medical Practice, Heirs Technologies, Redtech, and Africa Prudential Plc.

She previously served as Group Head of Marketing Communications across the Heirs Holdings portfolio, covering companies such as Transcorp Group and Heirs Energies. She also worked as Head of Marketing and Corporate Communications at Tony Elumelu Foundation, where she helped drive visibility for programmes supporting African entrepreneurs.

Okoli-Okpagu holds a Bachelor’s degree in Fine and Applied Arts from the University of Benin and a Master’s degree in Marketing Communications from the School of Media and Communication, Pan-Atlantic University.

She also earned a doctorate from ISC Paris and completed a certificate programme in Disruptive Strategy at Harvard Business School Online.

Yemisi Rotimi- CFO Leadway Assurance Company Limited

Yemisi Rotimi is the Chief Financial Officer at Leadway Assurance Company Limited, where she oversees the company’s financial strategy, reporting, risk management, and treasury operations.

She has more than 25 years of experience as a senior finance executive, having held leadership roles across global financial institutions and consulting firms.

Rotimi holds a Master’s degree from the University of Greenwich and is a Fellow of the Institute of Chartered Accountants of Nigeria. She is also an Associate of the Chartered Institute of Management Accountants and a Chartered Global Management Accountant with the Association of International Certified Professional Accountants.

She began her professional career with BDO before transitioning into the financial services industry. Over the years, she has worked with several international organisations, including Royal Mail Plc, Bank of Ireland, and Lehman Brothers, where she held senior finance and management roles covering financial control, regulatory reporting, risk management, and treasury operations.

Her career also includes senior leadership positions in the United Kingdom’s financial sector, where she served as Head of Financial Control at Acenden. She also worked as a consultant at Close Brothers Asset Management.

In addition to her corporate roles, Rotimi has been involved in advisory and consulting work. She served as Senior Consultant and later Non-Executive Director at Capworth Consulting Ltd, providing strategic guidance on finance and sustainability initiatives.

Ekeoma Ezeibe- MD/CEO, Crystal Trust Insurance Brokers Ltd 

Ekeoma Ezeibe is a veteran insurance lawyer and broker who serves as Managing Director and Chief Executive Officer of Crystal Trust Insurance Brokers Limited.

Ezeibe’s journey in insurance began during her National Youth Service with Nigeria Reinsurance Corporation in 1987–1988, where she worked in the legal department and was retained after her service year.

She later served in key legal and claims functions at Liberty Assurance Company Limited before becoming the pioneer Company Secretary and Legal Adviser at Industrial & General Insurance Company Limited in the early 1990s.

In partnership with her husband, she then co‑founded Crystal Trust Insurance Brokers, where she remains MD/CEO, guiding strategic direction and overseeing operations.

Ezeibe holds professional insurance qualifications, including Associate status with the Chartered Insurance Institute (ACII) with distinctions in claims practice and strategic risk management, Associate of the Chartered Insurance Institute of Nigeria (AIIN), and is a Fellow of the Council of Registered Insurance Brokers (FCIB).

In October 2025, Ezeibe was sworn in as the 23rd President of the Nigerian Council of Registered Insurance Brokers, becoming only the third woman to hold that position in the council’s more than six‑decade history.

Bernice Onyebuchi- Chief Audit Executive Rex Insurance Limited

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.

Mrs. Justina Ibe – Chief Compliance Officer Universal Insurance Plc

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.