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Insurance Assets Trail Banks by Over N37trn
The Business NG
|The BusinessNG
Nigeria’s insurance industry continues to lag far behind the banking sector, with newly released figures revealing a glaring gap in asset size and market development.
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According to EnterpriseNGR, the total assets of the entire insurance sector stood at N3.88 trillion as of Q3 2024. This marks a notable rise from N2.67 trillion in 2023, showing year-on-year growth. However, the increase still leaves the industry dwarfed by its banking counterpart.
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