Although historically known for lower penetration compared with banking and fintech, the industry is gradually gaining momentum. According to industry data reported by Nairametrics, Nigeria’s insurance companies held total assets estimated at ₦4.6 trillion by mid-2025, reflecting stronger balance sheets and increased investment across the sector.
Premium generation is also rising.
Insurers recorded ₦769.2 billion in gross premiums in the first quarter of 2025, marking one of the strongest quarterly performances in recent years.
Behind this progress are professionals across finance, compliance, marketing, governance, and executive leadership. Notably, several women are playing influential roles in shaping strategy, strengthening regulation, and expanding the reach of insurance services in Nigeria.
Here are seven women helping to power the future of Nigeria’s insurance industry.
Justina Ibe
Chief Compliance Officer, Universal Insurance Plc
Mrs. Justina Ibe serves as Chief Compliance Officer at Universal Insurance Plc, where she oversees administrative processes and regulatory compliance to ensure the company meets industry standards and internal governance requirements.
She holds a Higher National Diploma in Accountancy from the Institute of Management and Technology, Enugu, and an MBA from the University of Ado-Ekiti.
Ibe began her career at Gold Standard Insurance Limited before joining Jimbei Motors Limited as Accounts Manager in 2004. She joined Universal Insurance Plc in 2006 and rose steadily through the ranks, strengthening the company’s compliance and governance framework over the years.
Bernice Onyebuchi
Chief Audit Executive, Rex Insurance Limited
Bernice Onyebuchi heads Internal Audit at Rex Insurance Limited, where she oversees audit operations and strengthens the company’s governance, risk management, and compliance systems.
Her professional experience spans both public and private sectors. She previously supervised procurement audits across various Ministries, Departments and Agencies in Nigeria.
She also led the special audit and investigation of the ECOWAS Mission in The Gambia, demonstrating her expertise in complex audit and investigative assignments.
Onyebuchi holds a degree in Banking and Finance from Olabisi Onabanjo University and is a Chartered Accountant certified by both ACCA and ICAN.
Ekeoma Ezeibe
Managing Director/CEO, Crystal Trust Insurance Brokers Ltd
Ekeoma Ezeibe is a seasoned insurance lawyer and broker who currently serves as Managing Director and Chief Executive Officer of Crystal Trust Insurance Brokers Limited.
Her career began during her National Youth Service at the Nigeria Reinsurance Corporation between 1987 and 1988, where she worked in the legal department and was retained afterward.
She later held key legal and claims roles at Liberty Assurance Company Limited and became the pioneer Company Secretary and Legal Adviser at Industrial & General Insurance Company Limited.
Ezeibe later co-founded Crystal Trust Insurance Brokers and has continued to lead the company’s strategic growth.
In October 2025, she made history when she was sworn in as the 23rd President of the Nigerian Council of Registered Insurance Brokers, becoming only the third woman to lead the organisation in more than 60 years.
Yemisi Rotimi
Chief Financial Officer, Leadway Assurance Company Limited
Yemisi Rotimi serves as Chief Financial Officer at Leadway Assurance, where she leads financial strategy, treasury operations, reporting, and risk management.
She brings more than 25 years of experience as a senior finance executive across global institutions. Rotimi holds a Master’s degree from the University of Greenwich and is a Fellow of the Institute of Chartered Accountants of Nigeria. She is also an Associate of the Chartered Institute of Management Accountants and a Chartered Global Management Accountant.
Her international career includes senior financial leadership roles at organisations such as Royal Mail Plc, Bank of Ireland, Lehman Brothers, Acenden, and Close Brothers Asset Management in the United Kingdom.
Ifesinachi Okoli-Okpagu
Chief Marketing Officer, Heirs Insurance Group
Ifesinachi Okoli-Okpagu serves as Chief Marketing Officer at Heirs Insurance Group, where she leads marketing, communications, and brand strategy across the organisation’s insurance businesses.
With more than 15 years of cross-industry experience, she has built a strong reputation for driving brand transformation and business growth.
She also serves as Group Chief Marketing Officer for the retail portfolio of Heirs Holdings, overseeing marketing strategy for companies including United Capital Plc, Avon HMO, Avon Medical Practice, Heirs Technologies, Redtech, and Africa Prudential Plc.
Okoli-Okpagu holds a Bachelor’s degree in Fine and Applied Arts from the University of Benin and a Master’s in Marketing Communications from Pan-Atlantic University. She also earned a doctorate from ISC Paris and completed the Disruptive Strategy programme at Harvard Business School Online.
Nomwen Emeghalu
CEO, Fortis Global Insurance Plc
Nomwen Emeghalu became Managing Director and Chief Executive Officer of Fortis Global Insurance Plc in August 2025.
Since beginning her career in 1994, she has built extensive experience across operations, marketing, and corporate leadership in the insurance sector.
Her previous roles include Deputy General Manager of Corporate Marketing at Mutual Benefits Assurance Plc, senior management positions at AIICO Insurance Plc and Admiral Insurance Limited, and Managing Director of UTIB Insurance Brokers.
She holds a Bachelor of Education degree, an MBA, and completed the Advanced Management Programme at Lagos Business School.
Dr. Funmi Babington-Ashaye
MD/CEO, Risk Analyst Insurance Brokers Limited
Dr. Funmi Babington-Ashaye is the Managing Director and Chief Executive Officer of Risk Analyst Insurance Brokers Limited and one of the most respected figures in Nigeria’s insurance industry.
With more than three decades of experience, she has held several high-level leadership roles, including Managing Director and CEO of Cornerstone Insurance Plc and NICON Insurance Plc.
She is a Fellow of several professional bodies, including the Chartered Insurance Institute of Nigeria, the Chartered Insurance Institute, the Chartered Institute of Insurance Brokers, and the Institute of Directors Nigeria.
Babington-Ashaye also holds a Master’s degree in Entrepreneurship from the Massachusetts Institute of Technology and is an alumna of Lagos Business School.
She previously served as President and Chairman of the Council of the Chartered Insurance Institute of Nigeria.
The Bigger Picture
As Nigeria’s insurance industry expands and adapts to a changing financial landscape, the contributions of women across leadership, compliance, finance, marketing, and governance are becoming increasingly significant.
Their expertise and leadership are helping strengthen institutions, improve regulatory standards, and build greater trust in the insurance sector factors critical to increasing insurance penetration and driving long-term growth.
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