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
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.
