HEIRS Insurance Group, one of the fastest growing underwriting firm in the country has recorded over 90 percent of Life premium from retail operations within three years of entrenched remarkable landmarks.
It has also promoted Corporate Social Responsibility (CSR) activities with over N100 million and plans to expand operations to West Africa.
Managing Director of Heirs Life Assurance Limited, Mr. Niyi Onifade, who outlined the progress attained by the Group since inception, at a press conference in Lagos recently, noted that the insurance firm is living up to its promises to transform the sector.
He pointed out that the company is the game changer in the industry, stressing that with a robust financial capacity, the group has continued to provide succour to policyholders with payment of N5.7 billion in claims.
According to him, Heirs Assurance presently settles claims payments within 24 hours, whilst expressing hope of settling claims within five minutes very soon.
Mr. Onifade said the group has over 200 employees of which 53 percent are below 35 years, stressing that the firm underwrites over 4,000 policies in a month, an uncommon feat in the insurance industry.
Heirs Insurance Group announced an outstanding financial performance for year 2023 attaining 60 percent growth in premium while the Group’s Gross Written Premium (GWP) moved from N19.9 billion to N31.7 billion.
Its earned insurance revenue increased by 80 percent from N11.3 billion in 2022 to N20.5 billion in 2023, and the Group also paid claims of N4.1 billion in 2023 from N1.6billion in 2022, showing 161 percent growth, a demonstration of its reliability and commitment to upholding customer’s trust.
Heirs Insurance Group, earlier in the year, marked its third anniversary by unveiling an impact documentary that captured its remarkable growth since its launch.
The group also highlighted the innovative initiatives it has pioneered in the insurance industry, including its unrivalled digital presence across various channels and its customer-focused rewards and loyalty programme.
Heirs Insurance Group, founded and led by Mr. Tony Elumelu is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.
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