Heirs Insurance Group has announced its audited financial results for the year ended December 31, 2024, indicating a Gross Written Premium of N61 billion in 2024, for its life and general insurance companies. This reflects a 70 percent increase from the N35.8 billion recorded in 2023.
The group’s earned Insurance Revenue rose from N20.5 billion in the previous year to N31.4 billion in 2024, indicating a 53 percent increase.
Combined Profit Before Tax rose from N4.8 billion in 2023 to N11.2 billion, representing a 133 percent year-on-year growth.
The Group also paid N10.4 billion as claims during the year, compared to N4.18 billion in 2023, marking a 149 percent growth.
In addition, the Group’s combined total assets grew by 66 percent, rising from N55.8 billion in 2023 to N92.9 billion in 2024.
These results were confirmed in the Group’s 2024 financial statements, approved by the National Insurance Commission (NAICOM).
Heirs Insurance Group has maintained a consistent year-on-year growth streak, reflecting strong leadership and corporate governance, and a focus on driving digital innovation to make insurance simple and accessible.
Its digital-first channels, including USSD code *1100#, SimpleLife mobile app, Prince – its AI-powered chatbot, and Nigeria’s first digital insurance experience centre, ensure ease and convenience.
Beyond technology, the Group drives advocacy across all customer clusters, aligning with its purpose to improve lives and transform Nigeria. Its Essay Championship drives insurance literacy among young students and the school ecosystem, and its travel festival advocates for more inclusive policies to enable cross-border travel, among many other initiatives.
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, with investments across 24 countries and four continents.
With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
