7 Female Leaders Shaping the Future of Nigeria’s Insurance Industry

Nigeria’s insurance industry, historically known for lower penetration compared with banking and fintech, is experiencing renewed growth and strengthening fundamentals.

According to Nairametrics, Nigeria’s insurance companies held total assets of about N4.6 trillion by mid-2025, reflecting increased investments and stronger balance sheets across the sector.

Gross premium generation has also continued to rise. Insurers recorded N769.2 billion in premiums in the first quarter of 2025 alone, one of the strongest quarterly performances on record and a signal of growing confidence in the industry.

Amid this expansion, a number of women are playing key roles in shaping the sector through leadership in finance, compliance, marketing, governance, and executive management.

Here are seven women helping power Nigeria’s insurance industry.

1. Justina Ibe

Chief Compliance Officer, Universal Insurance Plc

Mrs. Justina Ibe serves as the Chief Compliance Officer at Universal Insurance Plc, where she oversees administrative and compliance functions to ensure the company adheres to regulatory requirements and internal policies.

She holds a Higher National Diploma (HND) in Accountancy from the Institute of Management and Technology (IMT), Enugu, and an MBA from the University of Ado-Ekiti.

A member of the Institute of Cost Management, Nigeria, Ibe began her career at Gold Standard Insurance Ltd before joining Jimbei Motors Ltd as Accounts Manager in 2004.

She joined Universal Insurance Plc in 2006 as Senior Superintendent in the Accounts Department and steadily rose through the ranks, becoming Senior Manager and later assuming responsibilities as Compliance Officer.

In 2019, she was appointed Assistant Controller and Accounts/Admin Manager, further strengthening the company’s governance and regulatory compliance framework.

2. Bernice Onyebuchi

Chief Audit Executive, Rex Insurance Limited

Bernice Onyebuchi serves as the Head of Internal Audit at Rex Insurance Limited, where she leads internal audit operations and strengthens governance, risk management, and compliance systems.

Her experience spans both the public and private sectors. She previously coordinated and supervised procurement audits for various Ministries, Departments, and Agencies (MDAs) in Nigeria.

Notably, she 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 Bachelor’s degree in Banking and Finance from Olabisi Onabanjo University. She is a Chartered Accountant with professional certifications from both the Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants of Nigeria (ICAN).

Her expertise in financial controls and regulatory compliance continues to strengthen Rex Insurance’s governance and oversight framework.

3. Ekeoma Ezeibe

Managing Director/CEO, Crystal Trust Insurance Brokers Ltd

Ekeoma Ezeibe is a seasoned insurance lawyer and broker who serves as Managing Director and Chief Executive Officer of Crystal Trust Insurance Brokers Limited.

Her journey in the insurance sector began during her National Youth Service with Nigeria Reinsurance Corporation in 1987–1988, where she worked in the legal department and was retained after completing her service.

She later held key legal and claims roles at Liberty Assurance Company Limited before becoming the pioneer Company Secretary and Legal Adviser at Industrial & General Insurance Company Limited in the early 1990s.

Ezeibe later co-founded Crystal Trust Insurance Brokers with her husband and has continued to lead the firm’s strategic direction and operations.

She holds several professional insurance qualifications, including Associate status with the Chartered Insurance Institute (ACII), Associate of the Chartered Insurance Institute of Nigeria (AIIN), and Fellow of the Council of Registered Insurance Brokers (FCIB).

In October 2025, she was sworn in as the 23rd President of the Nigerian Council of Registered Insurance Brokers, becoming only the third woman to hold the position in the organisation’s more than six-decade history.

4. Yemisi Rotimi

Chief Financial Officer, Leadway Assurance Company Limited

Yemisi Rotimi serves as Chief Financial Officer at Leadway Assurance Company Limited, where she oversees financial strategy, reporting, treasury operations, and risk management.

She brings over 25 years of experience as a senior finance executive across global financial institutions and consulting firms.

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.

She began her career with BDO and later worked with several international organisations including Royal Mail Plc, Bank of Ireland, and Lehman Brothers, holding senior roles in financial control, regulatory reporting, and treasury management.

Her experience also includes leadership positions in the UK financial sector, including Head of Financial Control at Acenden and consulting work with Close Brothers Asset Management.

5. Ifesinachi Okoli-Okpagu

Chief Marketing Officer, Heirs Insurance Group

Ifesinachi Okoli-Okpagu is the Chief Marketing Officer at Heirs Insurance Group, where she leads marketing, communications, and brand strategy for the group’s insurance businesses.

With more than 15 years of experience across sectors including technology, finance, media, hospitality, philanthropy, and energy, she has built a 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 strategies across companies including United Capital Plc, Avon HMO, Avon Medical Practice, Heirs Technologies, Redtech, and Africa Prudential Plc.

Previously, she worked as Group Head of Marketing Communications for the Heirs Holdings portfolio and served as Head of Marketing and Corporate Communications at the Tony Elumelu Foundation.

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.

6. Nomwen Emeghalu

CEO, Fortis Global Insurance Plc

Nomwen Emeghalu became Managing Director and Chief Executive Officer of Fortis Global Insurance Plc on August 27, 2025.

She began her career in 1994 and has built extensive experience across operations, marketing, and corporate management within 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 Ltd, and Managing Director of UTIB Insurance Broker.

Emeghalu holds a Bachelor of Education, an MBA, and completed the Advanced Management Programme at Lagos Business School.

She is also a Fellow of the Chartered Insurance Institute of Nigeria and the Risk Managers Society of Nigeria.

7. 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.

With more than three decades of experience in Nigeria’s insurance industry, she has held several high-level leadership positions, including Managing Director and CEO of Cornerstone Insurance Plc and NICON Insurance Plc.

Babington-Ashaye is a Fellow of the Chartered Insurance Institute of Nigeria and the Chartered Insurance Institute, as well as a Fellow of the Chartered Institute of Insurance Brokers and the Institute of Directors Nigeria.

She holds a Master’s degree in Entrepreneurship from the Massachusetts Institute of Technology and is an alumna of the Lagos Business School.

She previously served as President and Chairman of the Council of the Chartered Insurance Institute of Nigeria, further solidifying her legacy in the sector.