The insurance industry generated a total gross premium of N413.8 billion in 2019.

The statistics obtained from the latest edition of the insurance industry digest produced by the Nigerian Insurers Association (NIA) shows an increase of N13.8 billion, compared with the N400 billion recorded in 2018.

The report showed that the industry has sustained the path of marginal growth in the past three years.

In 2018, it recorded 10 per cent growth in gross premium generation from N363 billion in 2017, to N400 billion in 2018.

Of the amount of gross premium realised by the industry in 2019, insurance brokers generated N220.89 billion.

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