In Q1 2026, Nigeria’s insurance sector continued to reflect a gradual but important re-rating in investor perception, with the combined market capitalisation of the top 10 listed insurance companies reaching N844.60 billion.
The cohort led by industry names such as NEM Insurance, AIICO Insurance, AXA Mansard, and others remains a critical window into the sector’s financial health and operational discipline.
According to recent Nairametrics-based analysis of national accounts, the broader finance and insurance sector contributes just about 3%-4% to Nigeria’s GDP, despite strong growth momentum in recent quarters driven by improved financial intermediation, digital adoption, and pricing adjustments in insurance products.
Against this backdrop, the role of Chief Financial Officers (CFOs) in listed insurance companies has become increasingly strategic. Beyond statutory reporting and compliance, CFOs are central to capital management and investment strategy.
This report profiles the finance leaders steering Nigeria’s top insurance firms by market capitalisation in Q1 2026(as of March 31, 2026) at a time when the industry is simultaneously battling low penetration while attempting to unlock long-term scale opportunities in Africa’s most populous market.
Market Cap: N30.88 billion
Gbeminiyi Olaitan is a finance professional and Fellow of both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN). He is also an alumnus of Lagos Business School, where he completed the Senior Management Programme.
He holds a Higher National Diploma in Food Science and Technology from Yaba College of Technology, marking an early academic background outside traditional finance before transitioning into accounting and financial management.
Olaitan began his professional career at Okay Consult before joining Sovereign Trust Insurance Plc in 1999. Over the years, he has grown within the organisation and currently serves as Assistant General Manager in the Finance and Corporate Services Division, where he heads Finance and Accounts.
In his current role, he is responsible for financial reporting, accounting operations, budget management, and corporate finance functions, supporting overall financial governance and operational efficiency within the organisation.
