The expansion, which comes on the heels of the group’s fifth year anniversary, follows the successful rollout of the programme to retail customers and reinforces the Group’s commitment to delivering greater value and innovation beyond traditional insurance coverage.

Under the enhanced programme, organisations whose Group Life Insurance schemes are administered by Heirs Life Assurance can now offer their employees access to an expanding network of partner benefits and exclusive discounts across healthcare, wellness, lifestyle, hospitality, emergency response, and other essential services.

The programme is also now available to all active retail customers with an annual premium threshold of just ₦15,000, further broadening access to value-added services and supporting the Group’s mission of making insurance more rewarding and accessible.

Customers can enjoy discounts of up to 50% through a network of trusted partners, including Oriki Spa, PureFitness, Happy Coffee, 3AL, AA Rescue, Roving Heights, AutoFixr, Transcorp Hilton Abuja, SoFresh, Avon Medical, and Emergency Response Africa. The expanded partner ecosystem complements existing benefits across food, beverage, hospitality, wellness, healthcare, media, and other lifestyle services.

Commenting on the initiative, Ifesinachi Okpagu, Chief Marketing Officer, Heirs Insurance Group, said: “At Heirs Insurance Group, we continuously explore innovative ways to deliver value beyond insurance protection. By extending our Rewards & Loyalty Programme to corporate clients, we are helping employers enhance employee wellbeing while ensuring our customers enjoy meaningful everyday benefits from their relationship with us.”

The move reflects growing demand among employers for holistic employee benefits that support wellbeing, financial security, and quality of life, while also strengthening customer engagement and loyalty.

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.

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Speaking during a media parley in Lagos on Monday, the Managing Director and Chief Executive Officer of Heirs Life Assurance and Sector Head of Heirs Insurance Group, Niyi Onifade, said the company entered the insurance industry with a clear mission to transform the sector through innovation, customer-centricity, and technology-driven solutions.

According to Onifade, the Group’s journey began long before it officially commenced operations, with the organisation spending about seven years pursuing regulatory approval. He explained that changes in regulatory leadership and policy direction during the period extended the licensing process, eventually resulting in the issuance of two licences instead of the single licence initially sought.

“We did not come into the industry by chance; we came to transform it,” he said, noting that the company launched operations during the COVID-19 pandemic but remained committed to its long-term vision despite the challenges and uncertainties that characterised the period.

Five years later, Heirs Insurance Group has grown to serve more than three million customers, a milestone Onifade described as particularly significant in an industry that continues to grapple with low insurance penetration and trust concerns among consumers.

He attributed the company’s growth to a customer-focused business model built around convenience, accessibility, and innovation. The strategy includes digital onboarding, automated claims processing, USSD-enabled services, bancassurance partnerships, and the continuous introduction of technology-driven solutions designed to improve customer experience.

The Group has also distinguished itself through several industry-first initiatives. These include the launch of Nigeria’s first digital insurance experience centre, the introduction of “Prince AI,” an artificial intelligence-powered multilingual customer assistant, and the creation of a pioneering insurance-themed web series aimed at increasing public awareness and engagement.

Beyond business growth, the company has continued to invest in sustainability and social impact programmes. Among its flagship initiatives is “The Good Project,” which delivered a solar power installation at the Ikoyi Immigration Office. The Group has also promoted financial literacy through programmes such as the Heirs Insurance Essay Championship, designed to encourage financial education among young Nigerians.

The company’s efforts have earned it a number of recognitions over the past five years, including being listed among Africa’s fastest-growing companies by the Financial Times. It has also received awards for sustainability, technology innovation, and was named MSME Insurance Company of the Year at the Nairametrics Capital Market Awards.

Looking ahead, Onifade said the Group is well-positioned for the next phase of growth. He noted that the company is recapitalisation-ready, continues to invest in digital talent development through initiatives such as AI hackathons, and is actively exploring opportunities for expansion into other African markets.

According to him, the company’s long-term ambition is to deepen insurance penetration, drive innovation, and broaden access to insurance products across the continent while maintaining its focus on delivering value to customers and stakeholders.

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Following a rigorous judging process by industry professionals, the top winners emerged: Team Omnivoicefrom Nnamdi Azikiwe University emerged as the overall winner, taking home the grand prize of ₦5 million; TeamAlafia from Ahmadu Bello University Zaria secured second place with a ₦3 million prize; while Team Von Mises fromLagos State University came third and received ₦1 million.The winning team comprised Unah Chinweotuto, John Justice, and John Trust.

The grand finale, which was held at Heirs Towers, Lagos, brought together brilliant young tech talent, industry experts, and mentors to celebrate innovation in the insurance sector. The maiden edition attracted a significant number of entries from students at higher learning institutions across the country, all presenting fresh, practical ideas aimed at transforming insurance in Nigeria.

Themed “The Future of Insurance: Streamlining Insurance with AI”, the Hackathon reflects Heirs Insurance Group’s strong commitment to youth empowerment, digital skills development, and inclusive innovation. It gave students a real platform to apply emerging technologies to actual challenges in the insurance industry while receiving mentorship and industry exposure.

Speaking at the grand finale, Peace O. Philips, Chief Digital Officer of Heirs Insurance Group, said: “We are truly impressed by the outstanding creativity, technical depth, and practical solutions showcased by these young talents today. This maiden hackathon has exceeded our expectations and clearly demonstrates the immense potential of Nigerian youth to solve real insurance challenges using Artificial Intelligence and digital innovation,” he said.

The Heirs Insurance Hackathon was delivered in partnership with Redtech, the digital payment solutions arm of Heirs Holdings.

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. 

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The launch comes as the Group approaches its fifth anniversary, highlighting five years of redefining insurance through innovation, customer-centricity, and technology-driven solutions.

With Prince AI, Heirs Insurance becomes the first insurer in Nigeria to deploy a multi-language generative AI assistant, setting a new benchmark for customer engagement in the industry.

The AI-powered assistant delivers instant, intelligent responses not only to customer requests about its  products, but also to broader insurance enquiries, helping users understand coverage options, assess their needs, and identify the right policies for their unique situations.

Built with accessibility at its core, Prince communicates fluently in multiple local and international languages, including English, Yoruba, Igbo, Hausa, French, German, Spanish, Portuguese, Chinese, and many more, breaking down language barriers and enabling more customers to engage confidently with insurance in the language they understand best.

Beyond handling enquiries, the AI assistant enables customers to purchase and renew policies, initiate and track claims. The chatbot is available across WhatsApp, the SimpleLife Mobile App, and the Heirs Insurance website, delivering seamless, always-on service experience across multiple digital touchpoints.

Speaking on the launch, Peace Okhianmhense-Philips, Chief Digital Officer, said: “Prince AI represents the next phase of our digital evolution. By embedding generative AI into our customer experience, we are not only improving speed and efficiency but also humanising insurance.

This innovation allows us to connect more meaningfully with our customers, anticipate their needs, and deliver support that is instant, intelligent, and accessible.”

Built on adaptive intelligence, the AI Assistant continuously refines its capabilities through every interaction, ensuring customers receive increasingly accurate and relevant guidance. Where personalised counsel is required, Heirs Insurance’s seasoned representatives stand ready to provide expert advice and clarity, ensuring a hybrid experience that blends the speed of automation with the empathy of human support.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

It’s championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.

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The NDPC Trust Mark is an independent certification granted to organisations that meet the highest standards of data protection and privacy compliance as established by the Commission.

This recognition affirms that Heirs Insurance Brokers’ data protection practices have been rigorously assessed and fully align with regulatory requirements.

This milestone reinforces HIB’s commitment to safeguarding client information through secure systems, responsible data handling, and continuous compliance with evolving regulatory standards.

Commenting on the achievement, Tony Aniemeke, Managing Director/CEO, Heirs Insurance Brokers, said: “Trust is at the core of our business. Receiving the NDPC Audit Compliance Trust Mark 2025 is a strong validation of the systems and processes we have put in place to protect our clients’ data. As we continue to simplify insurance for our customers, we remain equally committed to ensuring their information is handled with the highest level of security and accountability.”

As businesses increasingly rely on digital platforms, data protection has become a critical pillar of customer trust. By earning this certification, Heirs Insurance Brokers strengthens its position as a responsible and forward-thinking brokerage, committed to protecting not just assets, but also the information entrusted to it.

Heirs Insurance Brokers (HIB) is a leading insurance broker in Nigeria, licensed by the National Insurance Commission (NAICOM) and registered as a limited liability company (RC 877382). Through an extensive network of insurance partners, Heirs Insurance Brokers delivers tailored solutions that help clients quantify risks, protect assets, and preserve wealth.

As the brokerage arm of Heirs Insurance Group (a subsidiary of Heirs Holdings, a global investment leader in 24 countries), we combine deep local expertise with innovative strategies. With a commitment to simplicity, reliability, and client-centric service, Heirs Insurance Brokers serves both corporate and individual customers across Nigeria.

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The event, held in Lagos, offered a curated experience that combined guided yoga and stress management sessions with expert-led conversations on insurance, investment, and asset protection. It reinforced both companies’ commitment to making financial wellness relevant and accessible to Nigerian women.

Speaking on the initiative, Ifesinachi Okoli-Okpagu, Chief Marketing Officer at Heirs Insurance Group, underscored the strong link between insurance and wellness.

“Self-care is not just about indulgence; it is about making deliberate choices that safeguard one’s physical, mental, and financial well-being — and insurance is fundamental to that. For many women juggling careers, businesses, and family, this event addresses a significant pain point: how we protect our assets while still navigating life,” she said.

She also introduced the HerMotor insurance plan, designed for ambitious women who need more than just insurance.

The product offers comprehensive motor coverage against accidents, fire, theft, and other unforeseen incidents that may result in loss or damage to the policyholder’s car. An added benefit is the 24/7 emergency roadside assistance for female car owners during breakdowns caused by accidents or mechanical faults.

The first-of-its-kind solution in the industry is delivered in partnership with AA Rescue and includes a robust rewards programme through which customers can access discounts on spa services, wellness programmes, and more.

Dr Odiri Oginni, Managing Director of United Capital Asset Management, said the collaboration reflects a shared commitment to women’s empowerment.

“Empowerment is at the core of what we do, and co-creating an initiative that directly addresses the financial realities facing Nigerian women further emphasises this.

We recognise that financial independence and personal wellness are deeply interconnected, and by creating opportunities that bring both together, we are reinforcing our commitment to empowering women to confidently pursue and achieve their dreams. This vision informed the creation of our Wealth for Women Fund, which provides women with a secure and accessible avenue to invest smartly and build long-term financial security,” she said.

The Yoga and Money Meet Up reflects a joint vision to empower Nigerian women through financial education and protection.

Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, which has investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, the group serves both corporate and individual customers across Nigeria.

United Capital Plc is a leading Pan-African financial and investment services group providing bespoke, value-added solutions to governments, corporations, and individuals across Africa.

With operations in Nigeria, Ghana, and Côte d’Ivoire, and a growing Pan-African footprint, the group leverages technology, specialist expertise, and retail-led platforms such as InvestNow to deliver cutting-edge financial solutions.

United Capital has been recognised by the Financial Times as one of Africa’s fastest-growing companies for three consecutive years.

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Running from December 10 to December 31, 2024, the campaign will feature community-focused outreaches, including Christmas gifts and exciting rewards to put smiles on the faces of Nigerians.

The campaign will see the insurer award individuals and organisiations in the communities they  operate in, and launch a holiday-watch web film, “The Underwriters”, for all Nigerians to enjoy.

This festive season, the Group will also introduce a low-cost motor insurance, Flexi Comprehensive Motor Insurance Plan, an affordable motor insurance, which provides the benefit of a comprehensive motor insurance plan for a fraction of the cost, addressing the financial realities many Nigerians face today.

Speaking on the campaign, the Chief Marketing Officer of Heirs Insurance Group, Ifesinachi Okpagu, said, “At Heirs Insurance Group, we are committed to providing much more than insurance. In a season when many Nigerians seek hope and reasons to smile, we are proud to offer initiatives that inspire and uplift.”

Details of each initiative under the “Unwrapping Smiles” campaign will be unveiled weekly on the Heirs Insurance Group website and social media platforms.

Heirs Insurance Group is the insurance subsidiary 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 serves both corporate and individual customers across Nigeria.

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The Group’s General and Life companies, combined, recorded a 59.30% increase in Gross Written Premium (GWP), rising from N19.9billion in 2022 to N31.7billion, for the year ending December 31, 2023, as they both enter their fourth year.

In addition, the Group’s earned insurance revenue for year 2023 stood at N20.5 billion, a surge of 80% from N11.3 billion in 2022, reaffirming the Group as one of the fastest-growing insurance groups in Nigeria.e

The breakdown shows that Heirs General Insurance  reported a 77% increase in GWP, rising from N8.5billion in 2022 to N12 billion in 2023.  Total assets for 2023 stood at N18.1billion, a 27.4% increase from N14.2bn recorded in 2022.  Profit Before Tax (PBT) surged from N791million (restated) in FY2022 to N2.4 billion in FY2023, a staggering 203% growth, signaling the company’s effective cost management and strategic growth initiatives.

It also  reported a net investment income of N1.4bn for 2023, a 45% increase from the preceding year. This impressive top and bottom-line growth underscores the company’s ongoing development and its unwavering focus on delivering value to clients.

Demonstrating its commitment to customer satisfaction and upholding customer trust, it paid a total of  N1.6billion to policyholders as claims from N471million in the previous year.

While Heirs Life  delivered phenomenal results with 71% growth in Gross Written Premium (GWP), rising from N11.5billion in 2022 to N19.7billion in 2023. Total assets grew by an extraordinary 98% increase, rising from N19 billion in FY2022 to N37.7billion in FY2023.

The company also demonstrated financial discipline, posting a 143% rise in investment income, from N1.1billion in FY2022 to N2.8billion in FY2023. Profit Before Tax (PBT) increased by 395% from N379million (restated) in 2022 to N1.8billion in 2023.

In the area of claims the life arm paid  N2.5billion as claims  representing a 119% increase over the previous year’s N1.1billion, reflecting its commitment to delivering timely financial relief to its customers during their times of need.

Heirs Insurance Brokers,p delivered a strong performance with significant growth in income and profit. Profit Before Tax (PBT) rose by an impressive 128%, increasing from N232million in 2022 to N529million in 2023. Total revenue grew by 68%, climbing from N760million in 2022 to N1.275billion in 2023. HIB maintained a well-structured and efficient balance sheet, showcasing its strong earnings’ capacity and solid financial foundation.

Commenting on the results, Tony O. Elumelu, CFR, Group Chairman of Heirs Holdings, the Group’s parent company, stated: “These results underscore our unwavering commitment to democratising access to insurance and delivering enduring value for our stakeholders. Heirs Insurance Group has achieved remarkable year-on-year growth in just three years of operations. We set out to transform the insurance industry, and I am pleased to see the remarkable growth the Group has achieved and the innovations it has rolled out. We are optimistic about the future and emphasize our commitment to meeting the evolving needs of our customers while driving financial inclusion for everyone.”

Heirs Insurance Group has proudly contributed over N100 million to various CSR projects focused on education, community development, and financial literacy, demonstrating its purpose of improving lives and transforming Nigeria. The Group recently awarded N8 million to three junior secondary students in Nigeria who emerged winners in its flagship CSR initiative, the Heirs Insurance Essay Championship, including a donation to winner’s school. Additionally, the Group has trained hundreds of parents in critical financial skills.

As part of its strategic vision, Heirs Insurance Group has deployed enhanced digital capabilities and rolled out innovative engagement channels, positioning the Group as a leader in the digital insurance space in Nigeria. This commitment to technological innovation ensures seamless access to insurance products and services for all Nigerians, driving financial inclusion across all demographics.

The results were confirmed in the Group’s 2023 financial statements, audited by PricewaterhouseCoopers (PwC) and approved by the National Insurance Commission (NAICOM).

About Heirs Insurance Group:

Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents, founded and led by Tony Elumelu. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.

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