Heirs Insurance Announces N115bn Premium, Pays N19.4bn Claims

Heirs Insurance Group (HIG) announced a significant financial performance for the year ended December 31, 2025, with gross written premiums soaring by 88.5% to N115 billion, up from N61 billion in 2024. The group's combined earned insurance revenue also saw substantial growth, increasing by 70% to N53.4 billion from N29.43 billion in the prior year. This sustained momentum is further underscored by an 83% rise in total assets, which grew from N89 billion in 2024 to N169.7 billion in 2025.

Despite the strong revenue growth, the group's profit before tax experienced a slight decline, settling at N9.53 billion in 2025 compared to N11.2 billion in 2024. This dip is attributed to prevailing macroeconomic challenges, particularly foreign exchange volatility. In line with its commitment to policyholders, Heirs Insurance Group paid out a combined N19.4 billion in claims during 2025, marking an 87% increase from the N10.4 billion disbursed in 2024.

Adding to its achievements, both Heirs Life Assurance and Heirs General Insurance received international recognition, being named among the Financial Times’ Africa’s Fastest-Growing Companies 2026. Heirs Life Assurance ranked 7th and Heirs General Insurance ranked 41st out of 130 recognized companies across various sectors, solidifying the group's status as a dynamic player in Africa's insurance landscape.

Digging deeper into the performance, Heirs Life Assurance (HLA) doubled its gross written premium to N88.59 billion in 2025, achieving 100% growth. Its insurance revenue grew by 80% to N27.2 billion, and profit before tax increased by 38% to N7.6 billion. Investment income surged by 430% to N24.8 billion, while claims paid rose by 121% to N14.4 billion. Heirs General Insurance also demonstrated strong growth, with gross written premium up 57% to N26.6 billion and insurance revenue increasing by 67% to N23.9 billion. Claims paid rose by 22% to N5 billion.