Established on 16th. August 1959 as a Branch office of The New India Assurance company ltd in Lagos, Nigeria and incorporated on 6th. January 1970 as a public company; a truly successful and strong general insurer of Nigeria changed its name to Prestige Assurance Plc on 24th September, 1992 in line with the indegenisation decree passed by govt. of Nigeria.
‘Prestige’ has pristine glory of 59 years of successful operations ranging from general property to highly complex risks of oil and gas and aviation industry in Nigeria and as a key player in the general insurance industry, distinguishes itself by winning three times the prestigious Pearl Sectoral Leadership Award for the highest Profit Margin Ratio Company among public quoted companies in insurance sub sector of Nigerian economy.
After successful recapitalisation in 2007, Prestige Assurance currently operates as a Subsidiary Company of The New India Assurance Company Limited, Mumbai. New India is a ‘A’ rated company by AM Best of USA and hold 51% share in Prestige in post-recapitalised era.