Company Information

Get to know Niger Insurance

Founded in 1962, Niger Insurance Plc was one of Nigeria's oldest and most established insurance companies. It operated as a composite insurer, offering a comprehensive range of products covering life and non-life insurance for both individual and corporate clients. For decades, it was a key player in the Nigerian financial services sector. However, the company faced significant financial and operational challenges, leading to its inability to meet its obligations to policyholders. Consequently, on May 30, 2022, the National Insurance Commission (NAICOM) revoked its license, and a Receiver/Liquidator was appointed to manage its affairs, effectively halting its operations.

Industry

Financial InsurancePRIMARY
Financial Other Service

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Niger Insurance

Nigeria

Founded in

1962 (64 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

(73 reviews)

Cyprus

2009

(17 years)

Security Information :

CySEC

FSCA

DFSA

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.