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.
Olorunmola Joshua Ojumoro is the Chief Financial Officer of Coronation Insurance Plc, bringing extensive experience in financial reporting, accounting leadership, and insurance finance operations across Nigeria’s financial services sector.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and also holds an ACCA certification in IFRS, reflecting strong technical expertise in international financial reporting standards and regulatory compliance. His academic background includes a Bachelor’s degree (B.Sc) and a Master’s degree (M.Sc), both in Accounting-related disciplines, which form the foundation of his professional finance career.
Ojumoro has built a career spanning financial reporting, management accounting, and finance leadership roles within the insurance and broader financial services industry. He has worked across key finance functions, including statutory reporting, financial controls, performance management, and regulatory compliance.
In his current role as CFO at Coronation Insurance Plc, he is responsible for overseeing the company’s financial strategy, reporting framework, capital management, and overall financial governance, ensuring alignment with regulatory standards and shareholder value objectives.
