Corporate Information

Corporate History & Inception

Prestige Assurance Plc is one of Nigeria’s leading general insurance companies with offices nationwide. Primed with over 74 years of undisputable insurance services, and a commitment to create long-term value for its clients and stakeholders through strong business fundamentals and consistency with our mission, guided by our vision and directed by our company’s core values.

The Company was established in 1952 as a branch office of The New India Assurance Company Limited, Mumbai, the largest general insurer in the Afro-Asian region with significant global presence, operating in over 25 countries. It holds a ‘CRISIL AAA/Stable’ rating, the highest possible credit rating, indicating a strong capacity to meet its financial obligations.

Prestige Assurance was incorporated as a limited liability company on 6th January 1970, and licensed by the National Insurance Commission (NAICOM) on 14th November 2007 to write all classes of non-life insurance in Nigeria, with registration number 040.

Pursuant to the indigenisation decree passed by the Federal Government of Nigeria, to reflect the majority shareholding of the Nigerian public in the Company, on 24th September 1992, it was converted into a Public Limited Liability Company and quoted on the floor of Nigerian Exchange Limited (NGX). The company operates as a subsidiary Company of The New India Assurance Company Ltd, Mumbai, with 78.32 per cent shareholding.

The Company’s head office is located at “Prestige House”, No. 19, Ligali Ayorinde Street, Victoria Island, Lagos and has branches spread across the nation in Ikeja, Apapa, Ikorodu Road, Abuja, Port Harcourt, Kano State, Ibadan and Kaduna State.