Established in 1952, Prestige Assurance Plc has over 70 years of heritage. The company was started as a branch of The New India Assurance Company Limited, Mumbai, and incorporated in Nigeria in 1970.
In order to reflect the majority shareholding of the Nigerian public in the Company, its name changed to Prestige Assurance Plc in 1992, in line with the indigenization decree. After a successful recapitalization in 2007 and subsequent Rights issued in 2015, Prestige Assurance Plc currently operates as a subsidiary Company of The New India Assurance Company Ltd, Mumbai, with 69.5 percent shareholding.
Prestige Assurance has positioned itself as one of the largest insurance companies in the country. The current CEO is Umesh Mohan Rathod.
