Overview & Background

Name: Leadway Assurance Company Limited

Industry: Insurance & non-banking financial services

Headquarters / Offices: Corporate office in Lagos; registered office in Kaduna

Founding & Incorporation: Incorporated in 1970, operations began in 1971

Founder: Sir (Dr.) Hassan O. Odukale

Scale & Reach: 24 branch offices and 42 agency offices across Nigeria

Mission, Vision & Values

Vision: To be a leading insurance company and non-banking financial solutions provider in Nigeria and beyond.

Mission: To be the service provider of choice, using insurance as a risk management tool, adding value to clients and stakeholders in an efficient and reliable way.

Core Values (iSCORE): Integrity, Service, Customer Focus, Openness, Respect for the Individual, and Excellence.

Its camel logo symbolizes strength, resilience, and the capacity to carry burdens, aligning with how insurance helps individuals and businesses in difficult times.

Business & Product Lines

Leadway is a composite insurer, offering both general (non-life) and life/long-term insurance products. Key areas include:

Segment / Product Type What It Covers
Motor Insurance Comprehensive auto cover, third-party cover, and auto-base plans
Property / Fire / Allied Perils Homes, buildings, theft, fire damage, burglary, and contents coverage
Life & Savings / Investment / Annuities Term life, family benefit, annuities, education plans, savings plans, and retirement/pension products
Business / Commercial Lines Marine hull, goods in transit, professional indemnity, agriculture insurance, marine cargo, and corporate property
Travel Insurance Medical cover, baggage, flight cancellation, and personal accident
Specialized Products Mortgage protection, hospital cash, combo plans, and art insurance

It also offers savings and investment products that combine insurance with financial growth.

Financial Strength & Claims Handling

Recognized for honoring commitments and efficient claims handling.

Holds strong financial ratings and is regarded as financially sound.

Known for paying substantial claims and maintaining prompt settlements.

Has built an asset base in excess of a billion dollars, primarily from internal funds rather than loans.

Corporate Structure & Affiliates

Leadway forms part of a broader financial services group, including:

Leadway Pensure PFA — Pension fund administration

Leadway Health — Health insurance (HMO)

Leadway Asset Management — Investment management

Leadway Trustees — Wills, trusts, and estate planning services

International Operations — Subsidiaries in Côte d’Ivoire providing both life and non-life products, with programs tailored to underserved groups such as women.

Reputation, Challenges & Innovation

Known as a reliable and service-oriented insurer with strong emphasis on technology and claims responsiveness.

Invests in digital processes, claims automation, and broader distribution channels to expand reach.

Faces industry-wide challenges in Nigeria, such as low insurance penetration, lack of awareness, regulatory compliance, and fraud risk.

Stands out for innovation, including products designed for specific demographics and markets.