By David Akinmola
Heirs Insurance Group has received strong credit ratings from Agusto&Co, underscoring the Group’s financial resilience, operational efficiency, and growing influence in Nigeria’s Insurance market.
In its latest assessment, Agusto&Co, upgraded Heirs Life Assurance (HLA) from “A” to “A” (long-term) while assigning it a short-term rating of “AI”. Heirs General Insurance (HGI) was rated “A” (long-term) and “AI” (short-term). Both businesses were also issued a “Stable Outlook”, reflecting retails presence.
Agusto&Co. noted that ratings reflect Heirs Insurance Group’s solid capitalization, strong governmance framework, and customer-focused strategy, which have positioned the firm as one of the fastest-growing players in the sector.
Reacting to the ratings, the Managing Director/Chief Executive Officer, Heirs Life Assurance, Niyi Onifade, said the upgrade “is a clear endorsement of our financial strength and operational discipline,” while the Managing Director/Chief Executive Officer, Heirs General Insurance, Wole Fayemi, described it as validation of the company’s balance sheet strength and prudent underwriting approach .
Heirs Insurance Group, the insurance subsidiary of Heirs Holdings, operates through Heirs General Insurance, Heirs Life Assurance, and Heirs Insurance Brokers, with a growing ratails footprint and digital platforms designed to broaden access to insurance. The Group says remains committed to drive financial inclusion and democratizing insurance in the country.
