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
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.
