Orange Insurance Brokers

What Orange Insurance Brokers does

Orange Insurance Brokers Limited (OIBL) is a Nigerian insurance brokerage firm incorporated on 28 February 2012 under the Companies and Allied Matters Act 1990 (RC 1013697). The company is registered with the Nigerian Council of Registered Insurance Brokers (NCRIB) and licensed by the National Insurance Commission (NAICOM), and operates as an intermediary placing insurance policies on behalf of clients and earning commissions from insurers. OIBL is headquartered in Lagos (71 Opebi Road, Opebi-Ikeja) with a registered office in Benin City, Edo State, and serves clients across Nigeria.

The company runs a dual-track proposition: a conventional insurance brokerage offering a broad portfolio of 17 products spanning Marine, Motor, Life Assurance, Fire & Special Perils, Burglary, Money, Fidelity Guarantee, Contractor's All Risks, Plant All Risks, Machinery Breakdown, Erection All Risks, Bond Underwriting, Tank, Goods-In-Transit, and Consequential Loss insurance, alongside a differentiated Micro Insurance Scheme specifically designed for low-income households and micro-enterprises. Customer segments include individual consumers, SMEs, and larger enterprises (visible logos include NEM, Uniosun, Zico, Omecon, Oceanic, Obax, NHC, JNCI, C4, LAPO, TDS, Miss Leasing, and Orange Retail). Distribution is direct and consultative, combining a website quote form, phone, WhatsApp, in-person office consultations, and Instagram presence for content marketing.

Revenue is generated entirely through insurance brokerage commissions, with pricing quote-based and varying by insurance type, sum insured, risk profile, and coverage. The underlying technology is described as a standard insurance brokerage platform with no proprietary AI, no API exposure, and no disclosed integrations. Strategic affiliate ties to LAPO Microfinance Bank, through board-level leadership overlap including the Chairman, provide distribution access to the microfinance client base — the central operational moat beyond the regulatory license.

Name

Orange Insurance Brokers

Legal name

Orange Insurance Brokers Limited

Website

https://oibl-nigeria.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Orange Insurance Brokers Limited is a Nigerian insurance brokerage firm licensed by NAICOM, offering 17 conventional and micro-insurance products to individuals, SMEs, and enterprises through multi-channel direct sales across Nigeria.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Retail (Personal Lines) Insurance Brokerage (FSAEADAA), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Insurance brokerage services
• Micro insurance products
• Risk management services
• Motor insurance coverage
• Life assurance policies

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: As an insurance brokerage firm, OIBL earns commissions from insurance companies for placing insurance policies on behalf of clients. They act as intermediaries between insurance buyers and insurers, providing risk management, policy placement, and claims management services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Orange Insurance Brokers Limited is a Nigerian insurance brokerage firm that acts as an intermediary between insurance buyers and insurers. The company places insurance policies on behalf of clients, provides risk management advisory, claims follow-up and settlement support, and offers a comprehensive portfolio spanning conventional insurance products (Motor, Marine, Fire, Life Assurance, etc.) and specialized micro-insurance products designed for low-income households and micro-enterprises.

Product overview

Orange Insurance Brokers Limited is an insurance brokerage firm providing a comprehensive portfolio of insurance products and risk management services. The company operates as a single integrated service platform offering both conventional insurance products (Motor, Marine, Life Assurance, Fire, Burglary, Contractor's All Risks, Plant All Risks, Machinery Breakdown, Erection All Risks, Money, Fidelity Guarantee, Bond Underwriting, Tank Insurance, Goods-In-Transit, and Consequential Loss) and specialized Micro Insurance products designed for low-income market segments. The portfolio includes advisory services such as risk assessment, claims management, and policy administration, all delivered through flexible approaches tailored for individual, business, and micro-enterprise clients in Nigeria.

Differentiator

Problem solved

Functional benefit

Products and services

• Marine Insurance Provides indemnity to ship and cargo owners against fortuitous loss and liability arising out of risks associated with marine adventure, covering hull, cargo, freight, and Protection & Indemnity.
• Burglary And Housebreaking Insurance Covers the insured against loss or damage to property accompanied by actual forcible and violent breaking into or out of a building, including goods held in trust or on commission.
• Motor Insurance Provides various levels of vehicle coverage including Comprehensive, Third Party Fire And Theft, Third Party Only, and Act Only policies covering accidental damage, fire, theft, and third-party liability.
• Life Assurance Covers persons insured against risks of death, permanent disablement or injuries resulting from external and violent means, including medical expenses and temporary total disablement.
• Micro Insurance Scheme Insurance products designed to be appropriate for the low income market in relation to cost, terms, coverage and delivery mechanism.
• Contractor's All Risks Insurance Covers contract work (permanent and temporary work including materials), indemnifies against death, bodily injury, third party property damage, and liability arising from construction projects.
• Money Insurance Provides cover for loss of money in transit between insured's premises, bank and other specified places occasioned by robbery, theft or fortuitous cause, including money in safe or vault.
• Fidelity Guarantee Insurance Indemnifies the employer for loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment.
• Bond Underwriting Provides various types of bonds including Bid Bond, Retention Bond, Advance Payment, Performance Bond, Customs and Excise Bond, and Tender Guarantee.
• Tank Insurance Coverage for accidental damage to Tank/Silo caused by bursting, rupture, collapse or any other accidental cause not excluded in the policy.
• Erection All Risks Insurance Covers material damage from sudden physical loss or damage during erection/construction, and accidental bodily injury or third party liability.
• Machinery Breakdown Insurance Covers boilers, pressure vessels, economizers and related plant for unforeseen and sudden physical loss or damage from defects, faulty design, or workmanship.
• Plant All Risks Insurance Covers unforeseen and sudden physical loss or damage from any cause not specifically excluded, applying whether items are at work, at rest, or being dismantled for cleaning or overhauling.
• Goods-In-Transit Insurance Covers goods against fire, theft or accidental damage while being loaded or unloaded from road vehicles, trains, or temporarily housed in the ordinary course of transit.
• Consequential Loss Insurance Covers loss of earning ability following damages caused by fire and special perils, including net profit loss, standing charges, and increased cost of working.
• Fire & Special Perils Insurance Standard fire coverage plus extendable special perils including storm, flood, burst pipes, vehicle impact, malicious damage, earthquake, aircraft damage, bush fire, explosion, tornado, cyclone, riot and strike.
• Risk Management Services Professional risk management services including assessment of insurance needs, risk profile analysis, arranging specialized coverage, and claims management.

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• National Insurance Commission (NAICOM)coreOthersRegulatory licensing and oversight body for insurance matters in Nigeria. OIBL is duly licensed by NAICOM to operate as an insurance brokerage firm.
• Nigerian Council of Registered Insurance Brokers (NCRIB)coreOthersUmbrella association of all Registered Insurance Brokers in Nigeria. OIBL is duly registered with NCRIB before licensing by NAICOM.
• LAPO Microfinance Bank LimitedcoreStrategic or Co-development PartnerStrong affiliated relationship with LAPO Microfinance Bank, with board members holding leadership positions in both organizations. Several board members serve as executives at LAPO Microfinance Bank, including Dr. Godwin Ehigiamusoe (founder), Dorcas Thorpe (Head of Alternative Channels Group), and Josephine Nwachukwu (Executive Director)

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• AIICO Insurance Plc: Nigeria's leading insurance companies offering life, health, and general insurance. OIBL's MD/CEO previously worked at AIICO for nearly a decade, evidencing direct competitive overlap in the Nigerian insurance market.
• Custodian Insurance: Nigerian insurance group offering life and non-life insurance products across personal and commercial lines. Competes directly with OIBL on motor, marine, fire, and general insurance brokerage.
• AXA Mansard Insurance: Major Nigerian insurer and financial services provider offering motor, life, property, and specialty insurance. Direct competitor for OIBL in personal and commercial lines distribution.
• Marsh Nigeria: Nigerian operation of global broker Marsh, offering commercial insurance, risk management, and consulting services. Competes with OIBL for large corporate and specialty insurance placements.
• FBNInsurance: Nigerian insurance company (FBN Holdings subsidiary) offering life, annuity, and general insurance products. Competes with OIBL in retail and corporate insurance distribution.
• Sovereign Trust Insurance: Nigerian general insurance company offering motor, marine, bond, fire, and specialized insurance products. Direct competitor in commercial lines brokerage.
• Coronation Insurance: Nigerian insurance company offering general business insurance including motor, property, marine, and engineering covers. Direct competitor to OIBL in commercial and corporate insurance placement.
• Aon Nigeria: Nigerian arm of global insurance broker Aon, providing risk management, reinsurance, and commercial insurance brokerage. Competes with OIBL particularly for enterprise and specialty placements.
• Leadway Assurance Company: One of Nigeria's largest composite insurance companies offering personal and commercial lines including motor, life, marine, and specialized SME coverage. Competitor to OIBL in retail and commercial insurance brokerage across Nigeria.

Broad incumbents

• African Reinsurance Corporation (Africa Re): Pan-African reinsurer headquartered in Nigeria, providing reinsurance capacity to African insurers and indirectly shaping the market OIBL operates in. Functions as a market infrastructure rather than a direct retail competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/oiblnigeria
• Xx.com/oiblnigeria
• Facebookfacebook.com/oiblnigeria

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Orange Insurance Brokers