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
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.
