Founded by Professor J.O. Irukwu in 1989, ADIC Insurance Limited is a composite insurance company. The company is duly licensed to underwrite all classes and volumes of general insurance and life businesses.
The company which was originally registered as African Development Insurance Company became ADIC Insurance Limited in October, 2006, after Diamond Bank, a leading Nigerian financial services provider acquired 96% equity stake in August, 2006.
ADIC Insurance has on its platform a highly competent and efficient Board and management made up of economists and premium professionals in the financial industry, with outstanding integrity. The company is backed by outstanding re-insurers.
With its headquarters in Lagos, Nigeria and a history dating back to over two (2) decades, ADIC insurance has become one of the nation’s leading distributors of diversified insurance products and services and has contributed significantly to the growth and development of the insurance industry in Nigeria.
Operating through its extensive branch network and liaison offices, ADIC insurance offers a comprehensive portfolio of services to clients, which cuts across Non-Life and Life insurance products. We pride ourselves in being an investor in people.
The company has achieved constantly growing performance through the adoption of Total Quality Management, skilled and highly motivated human resources and the use of modern technologies.
With the backing of our international technical partners, and reinsurance companies, ADIC insurance has consistently produced customized package policies that provide our clients with high-quality service they deserve.
On Friday 8th July 2011 NSIA Participations S.A. Holdings acquired 96.15% equity stake of ADIC, making it the first bank-owned insurance company to comply with the CBN directives.
NSIA Participations S.A. was founded by the current President and Chairman of the group, Mr. Jean Kacou Diagou in 1995. The company is based in Abidjan, Cote d’Ivoire, and its core business investment areas cut across insurance, bancassurance, banking and other financial services.
It has experienced great expansion in the past years across the sub-region of Africa with twenty-one (21) subsidiaries in 12 countries. It has operations in, Cameroun, Congo, Gabon, Benin, Côte D'ivoire, Ghana, Guinea, Guinea Bissau, Mali, Senegal, Togo, France and its recent and biggest investment, Nigeria.
NSIA is in the leading position in each national insurance market it is operating in and has become a major actor in the insurance industry, particularly in the CIMA countries (West and Central African French speaking countries insurance common regulation) and is currently making impact in Ghana and in no distant future the Nigerian business market.
The group’s proven know-how and mastery of the industry combined, with qualified and skilled human resources, provide definite guarantees for the success of its mission. Consequently, NSIA Group gives satisfaction to its clients and partners.
This underscores the new approach of Quality System in accordance with ISO 9001 standards.
At NSIA, information in real time from all the subsidiaries’ services and portfolio is made possible by the group’s integrated IT network system with automated process.
We maintain the highest standards and meet all our commitments by way of high quality management, high-leveled professionals, working for clients’ satisfaction. This has been made possible by our cautious underwriting. As a result, most of the big firms operating in Africa insure with NSIA, with whom we have a very strong and professional relationship.
Backed by top credit-rated reinsurers with international reputation and a strong and confident relationship with highly rated international brokers, our vocation is to be the leader everywhere we are and to give the best to our clients.
ADIC Insurance, soon to be called NSIA Insurance Nigeria, has thus become a member of an international financial conglomerate. The future is looking good for the company.