Heirs Insurance Group’s Life and General Businesses Assigned “A1” Rating By Agusto & Co.

Nigeria’s fastest growing insurance group, Heirs Insurance Group has been assigned strong ratings by Nigeria’s leading credit rating agency, Agusto & Co. Heirs Life Assurance (HLA), the Group’s specialist life insurance business, was recently upgraded from “A-” to “A” (long-term), with a short-term rating of “A1”.

Heirs General Insurance (HGI), the group, general insurance business, was rated “A-” (long-term) and “A1” (short-term).

The two businesses earned a “Stable Outlook,” which reflects the company’s financial buoyancy, effective claims management, and expanding market footprint, driven by their commendable innovations and digital excellence.

The latest development further reemphasises the fact that the Group is a trusted partner, dedicated to easing access to insurance and guaranteeing long-term value creation.

According to him, the stable outlook across both entities reiterates the Group’s efficient governance framework and consistent execution of its strategy.

“This recognition from Agusto & Co. is a clear endorsement of our financial strength and operational discipline. The upgrade from “A-“ to “A” for long term, and short-term rating of “A1”, both highlight the progress we have made in building a trusted, customer-first insurance company.

The Stable Outlook assessment also reassures our customers and partners that Heirs Life remains a reliable insurer with the capacity to deliver on its promises,” he said.

Wole Fayemi, MD/CEO, Heirs General Insurance, concluded by saying that the new ratings are a testament to the group’s consistent performance and utmost dedication to excellence.

“Our affirmed rating of “A-“ with a Stable Outlook validates our consistent performance and commitment to excellence.

It reflects the strength of our balance sheet, prudent underwriting philosophy, and focus on delivering exceptional service to our customers,” he added.