Heirs Insurance Group Paid N19.4bn Claims in 2025

The Heirs Insurance Group (HIG), on Monday said it paid N19.4 billion as claims, in 2025, representing an 87 per cent increase from the N10.4 billion recorded in 2024.
HIG disclosed this in its audited financial results for the year ended Dec. 31, 2025 as issued by the company.
According to the group, seven out of every 10 claims were settled within 24 hours, reflecting its commitment to prompt claims settlement and improved customer service.
The group recorded a combined Gross Written Premium (GWP) of N115 billion in 2025, an 88.5 per cent increase from N61 billion in 2024.
Combined insurance revenue also rose by 70 per cent from N29.43 billion to N53.4 billion, while total assets increased by 83 per cent from N89 billion to N169.7 billion.
However, combined Profit Before Tax (PBT) declined slightly to N9.53 billion from N11.2 billion, which the group attributed to macroeconomic headwinds, particularly foreign exchange volatility.
Heirs Life Assurance, the group’s specialist life insurance subsidiary, recorded a 100 per cent increase in GWP, rising from N44.22 billion in 2024 to N88.59 billion in 2025.
Its insurance revenue grew by 80 per cent from N15.1 billion to N27.2 billion, while PBT increased by 38 per cent from N5.5 billion to N7.6 billion.
While investment income surged by 430 per cent from N4.6 billion to N24.8 billion, claims paid rose by 121 per cent to N14.4 billion from N6.5 billion.
The subsidiary’s total assets also more than doubled from N66.2 billion in 2024 to N136.2 billion in 2025.
Heirs General Insurance recorded a 57 per cent increase in GWP, from N16.9 billion to N26.6 billion, while insurance revenue rose by 67 per cent from N14.32 billion to N23.9 billion.
Claims paid by the general insurance subsidiary increased by 22 per cent from N4 billion in 2024 to N5 billion in 2025, while total assets rose by 25 per cent from N26.8 billion to N33.5 billion.
Its PBT, however, fell from N4.9 billion to N1.07 billion, while investment income declined from N5.7 billion to N2.5 billion, reflecting the impact of foreign exchange volatility.
Heirs Insurance Brokers, the group’s broking arm, also recorded growth, with revenue increasing by 19 per cent from N1.97 billion to N2.34 billion.
Its PBT rose from N1.21 billion to N1.35 billion, supported by increased client acquisition and retention, cost discipline and operational efficiency.
The group said the results were audited by PricewaterhouseCoopers (PwC) and approved by the National Insurance Commission (NAICOM).
It noted that its performance had attracted international recognition, with Heirs Life Assurance and Heirs General Insurance named among the Financial Times’ Africa’s Fastest-Growing Companies 2026.
According to the group, Heirs Life Assurance ranked seventh, while Heirs General Insurance ranked 41st among 130 companies recognised across various sectors.
HIG said it had continued to invest in innovation and financial inclusion, including the rollout of Prince AI, a WhatsApp-powered generative artificial intelligence chatbot that enables customers to transact insurance through their mobile phones in 11 local and international languages.
Heirs Insurance Group, the insurance arm of Heirs Holdings, comprises Heirs General Insurance Ltd., Heirs Life Assurance Ltd. and Heirs Insurance Brokers.