Home > Salary > Nigeria > Chief Underwriter
The occupation of a Chief Underwriter involves overseeing the underwriting process within an organization. Chief Underwriters are responsible for managing a team of underwriters, ensuring that they adhere to company policies and guidelines while assessing risks associated with insurance or loan applications. They review complex or high-value cases, make final underwriting decisions, and provide guidance to their team members. Chief Underwriters collaborate with other departments such as sales, marketing, and claims to ensure effective risk management and profitability. They may also develop and implement underwriting strategies, monitor industry trends, and recommend changes to underwriting policies. Strong analytical skills, attention to detail, and the ability to make sound judgments are essential in this role.
Estimated Yearly Salary: 12,273,791 NGN
Estimated Monthly Salary: 1,022,816 NGN
Estimated Weekly Salary: 236,034 NGN per week
Estimated Hourly Salary: 5,901 NGN per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 987,525 NGN
Estimated Weekly Salary: 227,890 NGN per week
Estimated Hourly Salary: 5,697 NGN per hour
Last revision of data: 2024-01-05
Estimated Yearly Salary: 14,724 USD
Estimated Monthly Salary: 1,227 USD
Estimated Weekly Salary: 283 USD per week
Estimated Hourly Salary: 7 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 12,273,791 NGN
Estimated Monthly Salary: 1,022,816 NGN
Estimated Weekly Salary: 236,034 NGN per week
Estimated Hourly Salary: 5,901 NGN per hour
By working as Chief Underwriter a person can save up to 1,021 USD per month or 12,257 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Nigeria, see costs of living in Nigeria.
Estimated Yearly Salary for Chief Underwriter
Last revision of data: 2025-01-04
Data as of 2025
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Chief Underwriter salary in Nigeria
Average Yearly Salary of Chief Underwriter in Nigeria is approximately 12,273,791 NGN (14,724 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Chief Underwriter do?
The occupation of a Chief Underwriter involves overseeing the underwriting process within an organization. Chief Underwriters are responsible for managing a team of underwriters, ensuring that they adhere to company policies and guidelines while assessing risks associated with insurance or loan applications. They review complex or high-value cases, make final underwriting decisions, and provide guidance to their team members. Chief Underwriters collaborate with other departments such as sales, marketing, and claims to ensure effective risk management and profitability. They may also develop and implement underwriting strategies, monitor industry trends, and recommend changes to underwriting policies. Strong analytical skills, attention to detail, and the ability to make sound judgments are essential in this role.
Skills: Chief Underwriter, Underwriting, Risk Management, Insurance, Loan Applications, Analytical Skills
Job industry: Insurance
Job industry: Insurance
How much does Chief Underwriter make?
Salary details
How much does Chief Underwriter make?Estimated Yearly Salary: 12,273,791 NGN
Estimated Monthly Salary: 1,022,816 NGN
Estimated Weekly Salary: 236,034 NGN per week
Estimated Hourly Salary: 5,901 NGN per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 11,850,300 NGNEstimated Monthly Salary: 987,525 NGN
Estimated Weekly Salary: 227,890 NGN per week
Estimated Hourly Salary: 5,697 NGN per hour
Last revision of data: 2024-01-05Chief Underwriter estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 14,724 USD
Estimated Monthly Salary: 1,227 USD
Estimated Weekly Salary: 283 USD per week
Estimated Hourly Salary: 7 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
Nigeria is a country located in West Africa. It is the most populous country on the African continent, with a population of over 200 million people. The country covers an area of about 923,768 square kilometers, making it the 32nd largest country in the world. Nigeria shares borders with Niger, Chad, Cameroon, and Benin.
Estimated national average yearly salary is 3,943,871 NGN (5,140 USD). Value indicated is pre-tax. Below graph shows estimated Chief Underwriter job salary compared to average salary in Nigeria.
Comparison shows that a person working as Chief Underwriter in Nigeria earns on average:
3.11 times the average salary (or 311% of average salary).
Estimated national average yearly salary is 3,943,871 NGN (5,140 USD). Value indicated is pre-tax. Below graph shows estimated Chief Underwriter job salary compared to average salary in Nigeria.
Comparison shows that a person working as Chief Underwriter in Nigeria earns on average:
3.11 times the average salary (or 311% of average salary).
Is Chief Underwriter a well paid job?
Yes, our data show that Chief Underwriter is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Chief Underwriter?
High salary for Chief Underwriter would be somewhere between 13,501,170 NGN and 17,796,997 NGN. However this is an estimation based on Gaussian Distribution.How much can you save working as Chief Underwriter in Nigeria?
Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 12,273,791 NGN
Estimated Monthly Salary: 1,022,816 NGN
Estimated Weekly Salary: 236,034 NGN per week
Estimated Hourly Salary: 5,901 NGN per hour
By working as Chief Underwriter a person can save up to 1,021 USD per month or 12,257 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Nigeria, see costs of living in Nigeria.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Niger, Chad, Cameroon, Benin. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Chief Underwriter
Cameroon is 4,733 USD
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Nigeria
(44,763,887 NGN per year, pre-tax.)
2. Cardiologist
(37,279,896 NGN per year, pre-tax.)
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4. Neurosurgeon
(35,033,176 NGN per year, pre-tax.)
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(34,175,491 NGN per year, pre-tax.)
7. Oncologist
(34,169,925 NGN per year, pre-tax.)
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10. Plastic surgeon
(34,129,168 NGN per year, pre-tax.)
Data as of 2025Random salary:
Academy manager (3,785,809 NGN per year, pre-tax.)
Panel builder (2,806,230 NGN per year, pre-tax.)
Meeting convention planner (4,062,033 NGN per year, pre-tax.)
Produce specialist (1,776,979 NGN per year, pre-tax.)
Instrumentation engineering technician (4,590,476 NGN per year, pre-tax.)
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