By Olusegun Obisanya
Heirs Insurance Group has recorded a combined Gross Written Premium of N115bn for the 2025 financial year, representing an 88.5 per cent increase from the N61bn generated in the previous year.
The insurance group, which comprises Heirs General Insurance, Heirs Life Assurance and Heirs Insurance Brokers, disclosed the figures in its audited financial results for the year ended December 31, 2025.
Despite macroeconomic headwinds, particularly foreign exchange volatility, the group’s combined insurance revenue rose by 70 per cent from N29.43bn in 2024 to N53.4bn in 2025.
Its combined total assets also expanded by 83 per cent, from N89bn to N169.7bn during the period.
However, the group’s combined profit before tax declined to N9.53bn, compared with N11.2bn recorded in 2024, largely reflecting the impact of prevailing in economic conditions.
According to a release, the group’s claims payout increased significantly during the period, with N19.4bn paid to policyholders in 2025, an 87 per cent rise from N10.4bn paid in the preceding year.
At the company level, Heirs Life Assurance recorded the strongest performance, with its Gross Written Premium doubling from N44.22bn in 2024 to N88.59bn in 2025.
Insurance revenue grew by 80 per cent to N27.2bn, while profit before tax rose by 38 per cent to N7.6bn.
The life insurer’s investment income also surged by 430 per cent, rising from N4.6bn to N24.8bn. Claims paid increased by 121 per cent to N14.4bn, while total assets more than doubled from N66.2bn to N136.2bn.
Heirs General Insurance, meanwhile, recorded a 57 per cent increase in Gross Written Premium, which rose from N16.9bn to N26.6bn. Insurance revenue grew by 67 per cent to N23.9bn, while claims paid rose by 22 per cent to N5bn.
Its total assets increased from N26.8bn to N33.5bn. However, profit before tax fell sharply from N4.9bn to N1.07bn, while investment income declined from N5.7bn to N2.5bn, reflecting the impact of foreign exchange volatility.
Heirs Insurance Brokers also sustained its growth trajectory, recording a 19 per cent increase in revenue to N2.34bn. Profit before tax rose from N1.21bn to N1.35bn.
The results were audited by PricewaterhouseCoopers and approved by the National Insurance Commission.
The performance comes amid international recognition for the group, with Heirs Life Assurance and Heirs General Insurance ranked seventh and 41st, respectively, among Africa’s Fastest-Growing Companies 2026 by the Financial Times.
The group has also expanded its digital offerings, including Prince AI, a WhatsApp-powered generative artificial intelligence chatbot that enables customers to transact insurance in 11 local and international languages.
Heirs Insurance Group said the initiative was part of its broader drive to deepen financial inclusion and democratise access to insurance across Nigeria.
