BY NKECHI NAECHE-ESEZOBOR
Heirs Insurance Group has announced the audited financial results of its companies for the year ended December 31, 2025, delivering a landmark performance marked by strong year-on-year record, increased claims payout, and international recognition for growth.
The Group reported a combined Gross Written Premium (GWP) of ₦115 billion in 2025, an 88.5% increase from ₦61 billion recorded in 2024.
Insurance Revenue for the group rose by 70% from N29.43billion in 2024 to ₦53.4 billion in 2025.
While total assets grew by 83% from N89bn in 2024 to ₦169.7in 2025, underscoring its sustained momentum.
Profit Before Tax (PBT) dipped slightly in response to macroeconomic headwinds, particularly foreign exchange volatility, recording ₦9.53 billion in 2025, compared to ₦11.2 billion in 2024.
Demonstrating its commitment to customers, Heirs Insurance Group paid a combined ₦19.4 billion in claims in 2025, an 87% increase from ₦10.4 billion paid in 2024.
The results come on the heels of a landmark international recognition: Heirs Life Assurance and Heirs General Insurance were both named among the Financial Times’ Africa’s Fastest-Growing Companies 2026, one of the most respected rankings of corporate growth and performance. Of the 130 companies recognised across all sectors, Heirs Life Assurance ranked 7th, while Heirs General Insurance ranked 41st, reinforcing the Group’s position as one of Africa’s most dynamic insurance businesses.
Heirs Life Assurance
A breakdown of the result shows that the life arm GWP doubled from ₦44.22 billion in 2024 to ₦88.59 billion in 2025, representing 100% growth.
Insurance Revenue grew by 80% from N15.1 billion in 2024 to ₦27.2 billion in 2025.
Profit Before Tax rose by 38% from N5.5 billion in 2024 to ₦7.6 billion in 2025 while Investment income surged by 430%, growing from ₦4.6 billion in 2024 to ₦24.8 billion in 2025.
Total Claims paid rose by 121% to ₦14.4 billion, compared to ₦6.5 billion paid the prior year.while Total assets doubled to ₦136.2 billion, compared ₦66.2 billion in 2024.
General Insurance arm Gross Written Premium rose by 57% from ₦16.9 billion in 2024 to ₦26.6 billion in 2025.
Insurance Revenue rose by 67% from N14.32billion in 2024 to ₦23.9 billion in 2025.
Claims paid increased by 22% from N4billion in 2024 to ₦5 billion in 2025 while Total assets rose by 25% from N26.8billion in 2024 to ₦33.5 billion.
Profit Before Tax dipped from N4.9billion in 2024 to ₦1.07 billion, reflecting the impact of foreign exchange rate volatility.
Subsequently, investment income dipped from ₦5.7 billion in 2024 to ₦2.5 billion in 2025.
Heirs Insurance Brokers Revenue grew by 19% from ₦1.97 billion in 2024 to ₦2.34 billion in 2025, driven by increased client acquisition and retention.
Profit Before Tax rose from ₦1.21 billion to ₦1.35 billion, reflecting strong cost discipline and operational efficiency.
All results according to the company were audited by PricewaterhouseCoopers (PwC) and approved by the National Insurance Commission (NAICOM).
The insurance group has continued to roll out innovative initiatives, empowering customers across Nigeria easily access insurance. Its latest roll out of a WhatsApp-powered Gen AI chatbot, Prince AI, ensures that customers can transact insurance in seconds in eleven local and international languages right from their phones.
Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.
With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.
Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
