Heirs Insurance Group records N115bn gross premium, pays N19.4bn claims in 2025
Heirs Insurance Group (HIG) recorded a combined Gross Written Premium of ₦115 billion in 2025, up 88.5 per cent from ₦61 billion in the previous year, while claims payouts rose sharply as the Group expanded its customer base and operations.
The Group’s audited results for the year ended December 31, 2025, showed earned insurance revenue increasing 70 per cent to ₦53.4 billion and total assets rising 83 per cent to ₦169.7 billion.
Claims paid climbed 87 per cent to ₦19.4 billion from ₦10.4 billion in 2024, with the Group reporting that seven out of every 10 claims were settled within 24 hours.
Profit Before Tax stood at ₦9.53 billion, compared with ₦11.2 billion in 2024, following pressure from macroeconomic conditions, particularly foreign exchange volatility.
Heirs Life Assurance recorded the strongest growth among the Group’s businesses, with GWP doubling to ₦88.59 billion. Its insurance revenue rose 80 per cent to ₦27.2 billion, while PBT increased 38 per cent to ₦7.6 billion.
Investment income jumped 430 per cent to ₦24.8 billion, while claims paid increased 121 per cent to ₦14.4 billion. Total assets rose to ₦136.2 billion from ₦66.2 billion.
Heirs General Insurance increased its GWP by 57 per cent to ₦26.6 billion, while insurance revenue grew 67 per cent to ₦23.9 billion. Claims paid increased 22 per cent to ₦5 billion, and total assets rose 25 per cent to ₦33.5 billion.
Its PBT, however, fell to ₦1.07 billion from ₦4.9 billion, while investment income declined to ₦2.5 billion from ₦5.7 billion amid foreign exchange pressures.
Heirs Insurance Brokers recorded a 19 per cent increase in revenue to ₦2.34 billion, while PBT rose to ₦1.35 billion from ₦1.21 billion.
The results were audited by PricewaterhouseCoopers (PwC) and approved by NAICOM.
The Group’s performance was also recognised internationally, with Heirs Life Assurance ranking seventh and Heirs General Insurance ranking 41st among 130 companies featured in the Financial Times’ Africa’s Fastest-Growing Companies 2026 ranking.
As part of its digital strategy, HIG recently introduced Prince AI, a WhatsApp-powered Gen AI chatbot designed to enable customers to transact insurance within seconds in 11 local and international languages.
The Group, the insurance arm of Heirs Holdings, operates through Heirs General Insurance, Heirs Life Assurance and Heirs Insurance Brokers, serving corporate and individual customers across Nigeria.
