Heirs Insurance Group said on May 20 that two of its subsidiaries, Heirs Life Assurance and Heirs General Insurance, were named among Africa’s fastest-growing companies in the 2026 ranking published by the Financial Times.
The group said in a statement issued on Wednesday that Heirs Life Assurance ranked seventh on the list, while Heirs General Insurance placed 41st among 130 companies featured across sectors on the annual ranking, which tracks revenue growth and business expansion across the continent.
The recognition marks a significant milestone for the Nigerian insurance group as competition intensifies within Africa’s financial services industry, where firms are increasingly investing in technology-driven products and digital distribution channels to deepen market penetration.
According to the company, the ranking reflected strong growth achieved by both businesses during the assessment period, driven by expansion in operations, product offerings and customer acquisition strategies.
Commenting on the development, Sector Head of Heirs Insurance Group, Niyi Onifade, said the performance was supported by “consistent financial strength, customer-centric innovation, a broadened product portfolio, and operational excellence.”
He said the recognition reinforced the group’s long-term ambition to reshape insurance adoption across Africa through technology-led growth and improved customer engagement.
“We are immensely proud that both Heirs Life Assurance and Heirs General Insurance have been recognised among Africa’s fastest-growing companies,” Onifade said in the statement.
The announcement follows the recent launch of PrinceAI, the group’s multilingual generative artificial intelligence assistant designed to improve customer interaction and simplify access to insurance services.
The company said the platform enables real-time engagement with customers and is intended to reduce barriers that have historically limited insurance penetration in many African markets.
The latest recognition highlights growing investor and industry attention on Nigeria’s insurance sector, which has seen increased digital transformation efforts as operators seek to expand coverage levels in a market still considered significantly underinsured relative to population size.
Heirs Insurance Group, part of the Heirs Holdings investment portfolio, has in recent years expanded its technology-driven insurance offerings as financial institutions across the continent accelerate digital adoption to improve efficiency and widen customer reach.
The Financial Times ranking is regarded as one of Africa’s most closely watched corporate growth benchmarks and tracks companies demonstrating strong revenue expansion over a defined reporting period.