Top 10 insurance CEOs in Nigeria by premiums received in Q1 2026
By Aboki Forex —
Nigeria's insurance sector started 2026 on a strong note. Several insurers reported higher premium collections, stronger insurance revenue and improved profitability in the first quarter.
Data from Nairametrics Research shows the figures come from unaudited quarterly financial statements filed by listed insurers with the Nigerian Exchange (NGX) for the period ended March 31, 2026.
Growing awareness of insurance products, expanding distribution channels and efforts to deepen insurance penetration drove growth across much of the industry.
Unlike gross written premium, this ranking is based on premiums received as disclosed in insurers' cash flow statements. That metric captures actual cash inflows from policyholders. It gives a clearer picture of business activity and liquidity generation.
The top 10 insurers generated N275.49 billion in premiums received during Q1 2026. That is up from N224.99 billion in the same period of 2025. The increase represents a 22.45% rise.
Here are the top 10 insurance company CEOs based on premiums received in Q1 2026.
10. Samuel Ogbodu, SUNU Assurances Nigeria Plc (N8.05 billion)
Samuel Ogbodu is the Managing Director and CEO of SUNU Assurances Nigeria Plc. He oversaw premiums received of N8.05 billion in Q1 2026, up from N7.69 billion in Q1 2025. That is a 4.61% increase.
SUNU Assurances recorded insurance revenue of N6.04 billion in Q1 2026, up from N5.28 billion in Q1 2025. That represents a 14.42% increase.
Profit after tax declined to N367 million from N754 million in the prior year period. That is a 51.29% decrease.
Ogbodu is a Chartered Insurer and Fellow of the Chartered Insurance Institute of Nigeria. He has decades of experience in the insurance industry. He began his career at Nigerian Life and Pension Consultants before joining Law Union and Rock Insurance Plc, where he rose to become Head of the Special Risk Department.