Heirs Insurance Group (HIG) has posted a strong financial performance for the year ended December 31, 2025, recording an 88.5 per cent increase in combined Gross Written Premium (GWP) to N115 billion, up from N61 billion in 2024.
The Group’s audited results, approved by the National Insurance Commission (NAICOM), also showed significant growth in insurance revenue, assets and claims settlement, despite the challenging macroeconomic environment and foreign exchange volatility.
Combined earned insurance revenue rose by 70 per cent from N29.43 billion in 2024 to N53.4 billion in 2025, while total assets increased by 83 per cent from N89 billion to N169.7 billion.
The Group, however, recorded a slight decline in Profit Before Tax (PBT), which fell from N11.2 billion in 2024 to N9.53 billion in 2025, largely reflecting the impact of macroeconomic pressures, particularly foreign exchange volatility.
A major highlight of the financial year was the significant increase in claims settlement, with the Group paying N19.4 billion to policyholders in 2025, representing an 87 per cent increase from the N10.4 billion paid in the preceding year.
The performance comes on the heels of international recognition for the Group’s rapid expansion, with Heirs Life Assurance and Heirs General Insurance both named among the Financial Times’ Africa’s Fastest-Growing Companies 2026.
Of the 130 companies recognised across all sectors, Heirs Life Assurance ranked seventh, while Heirs General Insurance placed 41st, reinforcing the Group’s emergence as one of Africa’s fastest-growing insurance businesses.
At the company level, Heirs Life Assurance (HLA), the Group’s specialist life insurance subsidiary, recorded particularly strong growth across key performance indicators.
Its GWP doubled from N44.22 billion in 2024 to N88.59 billion in 2025, representing 100 per cent growth, while insurance revenue rose by 80 per cent from N15.1 billion to N27.2 billion.
HLA’s PBT also increased by 38 per cent from N5.5 billion in 2024 to N7.6 billion in 2025.
Investment income recorded one of the company’s most significant increases, surging by 430 per cent from N4.6 billion in 2024 to N24.8 billion.
The company also paid N14.4 billion in claims during the year, a 121 per cent increase from the N6.5 billion paid in 2024, underscoring its expanding policyholder base and increased commitment to claims settlement.
Total assets more than doubled during the period, rising from N66.2 billion in 2024 to N136.2 billion in 2025.
Heirs General Insurance (HGI), the Group’s general insurance subsidiary, also sustained its growth trajectory, with GWP increasing by 57 per cent from N16.9 billion in 2024 to N26.6 billion in 2025
.
Its insurance revenue rose by 67 per cent from N14.32 billion to N23.9 billion, while claims paid increased by 22 per cent from N4 billion in 2024 to N5 billion in 2025.
HGI’s total assets also grew by 25 per cent from N26.8 billion to N33.5 billion.
However, the subsidiary’s PBT fell significantly from N4.9 billion in 2024 to N1.07 billion in 2025, while investment income declined from N5.7 billion to N2.5 billion, reflecting the impact of foreign exchange rate volatility during the year.
Heirs Insurance Brokers (HIB), the Group’s broking arm, also recorded positive growth, with revenue rising by 19 per cent from N1.97 billion in 2024 to N2.34 billion in 2025.
Its PBT increased from N1.21 billion to N1.35 billion, driven by cost discipline and improved operational efficiency.
The financial statements were audited by PricewaterhouseCoopers (PwC) and subsequently approved by NAICOM.
Beyond its financial performance, Heirs Insurance Group has continued to strengthen its digital insurance proposition as part of its broader strategy to expand access to insurance across Nigeria.
One of its latest initiatives is Prince AI, a WhatsApp-powered generative artificial intelligence chatbot that enables customers to access and transact insurance services directly from their mobile phones.
The platform supports 11 local and international languages, further advancing the Group’s efforts to simplify insurance and deepen financial inclusion.
Heirs Insurance Group is the insurance arm of Heirs Holdings, the pan-African investment company with investments across 24 countries and four continents.
Through Heirs General Insurance, Heirs Life Assurance and Heirs Insurance Brokers, the Group serves corporate and individual customers across Nigeria through an expanding retail footprint and omnichannel digital platforms.
The Group has positioned technology, innovation and financial inclusion at the centre of its strategy to democratise access to insurance and strengthen insurance penetration in Nigeria.
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
