Sector ranking · USD normalized
Largest Listed Insurance Companies in Africa
by Market Cap.
Insurance penetration across Africa is among the lowest in the world — which is exactly why the listed insurers and reinsurers below are long-horizon growth stories. This page ranks them by USD market cap for clean cross-country comparison.
| # | Company | Exchange | Country | Sector | Market Cap (USD) | Price | Daily Change | Updated |
|---|---|---|---|---|---|---|---|---|
| 1 | Sanlam Limited SLM | JSE | South Africa | Insurance Life Insurance | $11.34B | R88.26 | 0.47% -0.42 | 17 Jul 2026 |
| 2 | Discovery DSY | JSE | South Africa | Insurance Life Insurance | $10.46B | R253.07 | 1.77% -4.55 | 17 Jul 2026 |
| 3 | Momentum Metropolitan Holdings MTM | JSE | South Africa | Insurance Life Insurance | $3.20B | R40.06 | 1.11% -0.45 | 17 Jul 2026 |
| 4 | Santam SNT | JSE | South Africa | Insurance Nonlife Insurance | $2.78B | R398.83 | 0.04% -0.17 | 17 Jul 2026 |
| 5 | Investec Limited INV | BSE | Botswana | Insurance Financial Services and Insurance | $2.11B | P119.1 | +0.00% +0 | 17 Jul 2026 |
| 6 | WAFA ASSURANCE WAA | CSE | Morocco | Insurance | $1.95B | DH5,202 | 1.10% -58 | 17 Jul 2026 |
| 7 | Botswana Insurance Holdings Limited BIHL | BSE | Botswana | Insurance Financial Services and Insurance | $482.23M | P23.75 | +0.00% +0 | 17 Jul 2026 |
| 8 | Britam Holdings Ltd BRIT | NSE | Kenya | Insurance | $243.91M | KSh15.8 | +7.12% +1.05 | 15 Jul 2026 |
| 9 | Jubilee Holdings Ltd JUB | NSE | Kenya | Insurance | $223.04M | KSh381.75 | +0.13% +0.5 | 15 Jul 2026 |
| 10 | Kenya Re-Insurance Corporation KNRE | NSE | Kenya | Insurance | $158.04M | KSh3.44 | +2.08% +0.07 | 15 Jul 2026 |
| 11 | Letshego Holdings Limited LETS | BSE | Botswana | Insurance Financial Services and Insurance | $131.77M | P0.85 | +0.00% +0 | 17 Jul 2026 |
| 12 | Mohandes Insurance Company MOIN | EGX | Egypt | Insurance | $123.65M | E£24.04 | — — | 17 Jul 2026 |
| 13 | AIICO Insurance Plc AIICO | NGX | Nigeria | Insurance FINANCIAL SERVICES | $109.54M | ₦4.13 | +2.23% +0.09 | 17 Jul 2026 |
| 14 | NEM Insurance Plc NEM | NGX | Nigeria | Insurance FINANCIAL SERVICES | $101.77M | ₦28 | +0.00% +0 | 17 Jul 2026 |
| 15 | CIC Insurance Group Ltd CIC | NSE | Kenya | Insurance | $100.52M | KSh4.44 | 0.22% -0.01 | 15 Jul 2026 |
| 16 | GAIA Renewables 1 Limited GAIA | BSE | Botswana | Insurance Financial Services and Insurance | $96.94M | P136 | — — | 17 Jul 2026 |
| 17 | SIC Insurance Company Limited SIC | GSE | Ghana | Insurance Financials | $76.78M | ₵6 | — — | 17 Jul 2026 |
| 18 | Cornerstone Insurance Plc CORNERST | NGX | Nigeria | Insurance FINANCIAL SERVICES | $75.69M | ₦5.75 | +0.00% +0 | 17 Jul 2026 |
| 19 | AXA Mansard Insurance Plc MANSARD | NGX | Nigeria | Insurance FINANCIAL SERVICES | $73.04M | ₦11.2 | +0.00% +0 | 17 Jul 2026 |
| 20 | Mutual Benefits Assurance Plc MBENEFIT | NGX | Nigeria | Insurance FINANCIAL SERVICES | $53.35M | ₦3.67 | +0.00% +0 | 17 Jul 2026 |
| 21 | Coronation Insurance Plc WAPIC | NGX | Nigeria | Insurance FINANCIAL SERVICES | $45.20M | ₦2.6 | +7.44% +0.18 | 17 Jul 2026 |
| 22 | Liberty Kenya Holdings Ltd LBTY | NSE | Kenya | Insurance | $41.01M | KSh9.06 | 0.22% -0.02 | 15 Jul 2026 |
| 23 | ALLIANCE ASSURANCES ALL | SGBV | Algeria | Insurance ASSURANCE | $36.12M | DA345 | +0.00% +0 | 19 Jul 2026 |
| 24 | Delta Insurance Company DEIN | EGX | Egypt | Insurance | $28.09M | E£10.35 | — — | 17 Jul 2026 |
| 25 | Fortis Insurance Plc FTGINSURE | NGX | Nigeria | Insurance FINANCIAL SERVICES | $26.57M | ₦2.84 | +0.00% +0 | 17 Jul 2026 |
| 26 | Sovereign Trust Insurance Plc SOVRENINS | NGX | Nigeria | Insurance FINANCIAL SERVICES | $20.62M | ₦2 | +0.00% +0 | 17 Jul 2026 |
| 27 | Linkage Assurance Plc LINKASSURE | NGX | Nigeria | Insurance FINANCIAL SERVICES | $20.08M | ₦1.5 | 0.67% +0 | 17 Jul 2026 |
| 28 | Sunu Assurances Nigeria Plc SUNUASSUR | NGX | Nigeria | Insurance FINANCIAL SERVICES | $16.84M | ₦4 | +0.00% +0 | 17 Jul 2026 |
| 29 | LASACO Assurance Plc LASACO | NGX | Nigeria | Insurance FINANCIAL SERVICES | $16.06M | ₦2 | +5.26% +0.1 | 17 Jul 2026 |
| 30 | Veritas Kapital Assurance Plc VERITASKAP | NGX | Nigeria | Insurance FINANCIAL SERVICES | $15.77M | ₦1.57 | +0.64% +0.01 | 17 Jul 2026 |
| 31 | Prestige Assurance Plc PRESTIGE | NGX | Nigeria | Insurance FINANCIAL SERVICES | $13.83M | ₦1.44 | 0.69% -0.01 | 17 Jul 2026 |
| 32 | Sanlam Kenya Plc SLAM | NSE | Kenya | Insurance | $11.41M | KSh8.22 | 0.24% -0.02 | 15 Jul 2026 |
| 33 | Regal Insurance Plc REGALINS | NGX | Nigeria | Insurance FINANCIAL SERVICES | $10.90M | ₦0.94 | +1.08% +0.01 | 17 Jul 2026 |
| 34 | Universal Insurance Plc UNIVINSURE | NGX | Nigeria | Insurance FINANCIAL SERVICES | $10.90M | ₦0.94 | +3.30% +0.03 | 17 Jul 2026 |
| 35 | Guinea Insurance Plc GUINEAINS | NGX | Nigeria | Insurance FINANCIAL SERVICES | $5.01M | ₦0.87 | 1.14% -0.01 | 17 Jul 2026 |
| 36 | Staco Insurance Plc STACO | NGX | Nigeria | Insurance FINANCIAL SERVICES | $3.25M | ₦0.48 | +0.00% +0 | 17 Jul 2026 |
| 37 | African Alliance Insurance Plc AFRINSURE | NGX | Nigeria | Insurance FINANCIAL SERVICES | $2.98M | ₦0.2 | +0.00% +0 | 17 Jul 2026 |
| 38 | National Insurance Corporation NIC | USE | Uganda | Insurance | $2.90M | USh5 | — — | 17 Jul 2026 |
| 39 | Fidelity Life Assurance Limited FIDL | ZSE | Zimbabwe | Insurance | $2.86M | ZWG70 | +0.00% +0 | 17 Jul 2026 |
| 40 | Conduit Capital Limited CND | JSE | South Africa | Insurance Nonlife Insurance | $1.85M | R0.04 | — — | 17 Jul 2026 |
Showing 40 of 41 companies · 10 exchanges · 10 countriesRanked by USD market cap · #1 JSE
How this ranking works.
Every company on this page is ranked by USD-normalized market capitalization. The page still shows the original local market price and local market cap when you switch the display currency, but the order never changes.
Why USD?
A Nigerian naira market cap and a South African rand market cap are not directly comparable. USD normalization gives a clean continent-wide ranking without changing the underlying country pages.
What counts here?
The page is built for listed securities. ETFs and similar vehicles are hidden by default, but they can be revealed with the listed-only toggle if you want the broader market picture.