June 8, 2023


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Heirs Holdings launches two insurance companies

The Lagos State Governor, Babajide Sanwo-Olu, and the Commissioner for Insurance, Mr Sunday Thomas, inaugurated on Tuesday Heirs Holdings’ new insurance businesses – Heirs Insurance and Heirs Life Assurance.

Heirs Towers, a seven-storey headquarters of Heirs Holdings developed by Afriland Properties Plc, one of the investment companies of Heirs Holdings, was also unveiled at the inauguration ceremony.

Sanwo-Olu commended the pan-African investment company for its bold vision to democratise access to insurance.

The Chairman, Heirs Holdings, Tony Elumelu, introduced Dr Adaobi Nwakuche as the managing director/chief executive officer of Heirs Insurance Limited, and Mr Niyi Onifade as the MD/CEO of Heirs Life Assurance Limited.

Heirs Insurance and Heirs Life Assurance have a paid-up share capital of N10bn and N8bn respectively, and are backed by leading reinsurers, providing a second layer of security for clients’ insurance portfolios, according to Elumelu.

Sanwo-Olu said, “Heirs Insurance and Heirs Life are bringing insurance that is simple, accessible, and affordable – three strong words that businesses of today need to thrive in highly saturated markets.

“I am aware that both Heirs Life and Heirs Insurance are two of the most liquid and well-capitalised insurance companies in the country right now.”

said the timing of the launch could not have been more auspicious, adding, “The insurance commission is currently rolling out different initiatives for national development.

“To Heirs Insurance and Heirs Life, I want to say thank you for coming into our industry, making a difference, impacting the economy, and helping us to deepen the insurance sector in Nigeria.”

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