Founded in 1961 by the then Eastern Nigeria Government, African Continental Bank Plc, and Pearl Assurance of London, Universal Insurance partnered early on with Swiss Reinsurance Company of Zurich to support its underwriting capacity.
The company was originally Universal Insurance Company Limited.
Over time, it consolidated with entities such as United Trust Assurance, Oriental Insurance, and African Safety Insurance to form a larger company. As of today, its shareholders’ fund stands at over ₦9 billion.
Its vision is to become a dominant, specialised non‑life insurer in Nigeria, delivering value to stakeholders. The mission emphasizes innovative, efficient risk protection and prompt claims settlement, while its core values, spelled in its brand name UNISURE, underscore Integrity, Reliability, Unity, Satisfaction, and Excellence in service delivery.
The company recorded a strong growth in 2024, hitting ₦15.25 billion in gross premium with ₦2.8 billion in profit after tax.
As part of its innovative drive, the company launched a mobile app and digital platform, enabling customers to obtain quotes, purchase cover, submit and track claims. It also introduced innovative services such as OkadaPass, insurance for delivery operators, including rider, bike, and package cover, and Shop-in-Shop, tailored for SMEs covering fire, burglary, injury, and business interruption.
