NICON Insurance Limited, one of Africa’s leading Insurers was originally owned by the Federal Government of Nigeria. It was established by Decree No.22 of 1969 (now Cap 263 law of 1990 as amended) with the main objective of assisting in the development of the insurance industry in Nigeria and specifically to ensure that Federal Government assets and property are fully insured

However, at the commencement of the second phase of the Federal Government Privatization Policy, NICON Insurance was privatised in December, 2005. With an asset base of N46.9bn gathered over a 52-year period of operation, 30 branches and six regional offices, it is therefore modest to classify NICON as a colossus in the insurance and other financial services sector.

Besides its business offices in Nigeria, NICON also has offices in the oil-rich Island of Sao Tome and Principe and Central London.

NICON stands tall in the Nigerian insurance market today. It is driven in its operations with experienced workforce spread nationwide in offices located in the 36 states across the six-geopolitical zones in Nigeria, rendering insurance and other financial services as well as providing employment to the teeming population.

Since its incorporation in 1969, the company has built a reputation as a strong underwriting house providing its numerous policyholders the security of its financial reserves and underwriting expertise and continues to deliver quality services that are consistent with its brand name to the delight of the insuring public.

It is important to note that most companies that were privatised had either gone under or remain comatose, but NICON Insurance continues to wax stronger in the midst of business uncertainties in a fragile economy such as ours.

NICON has produced about 30% of the number of Chief Executives of insurance companies in Nigeria.

NICON Insurance was one of the leading and founding members of the prestigious West African Insurance College in Banjul, which has contributed immensely to Insurance knowledge transfer mechanism in sub African Sahara.