L-R : Executive Director Technical, Heirs Life, Mr Wasiu Amao; Managing Director, Heirs Insurance, Dr. Adaobi Nwakuche; Managing Director, Heirs Life Limited, Mr. Niyi Onifade and Executive Director Technical, Heirs Insurance Dr Jeff Duru at media parley Tuesday in Lagos

By Ngozi Onyeakusi—Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) have generated a total of
N14.8bn Gross Written Premium (GWP), within the third quarter of 2022.
Heirs Insurance recorded a GWP to tune of N5.8 billion in the third quarter of 2022 from N3.5 billion recorded in 2021 while Heirs Life GWP soared to N9 billion in 2022 third quarter from N2.7billion recorded in 2021 .
The Managing Director of Heirs Life Limited, Mr. Niyi Onifade disclosed this to journalists in a parly Tuesday in Lagos.
According to him the two firms made an
impressive performance within the period as they pooled N1.550 bn profits.
Heirs Insurance recorded a profit before tax of N600m in third quarter of 2022 while Heirs life as well generated N950m within the same period.
Speaking further Onifade noted the two firms settled a total claims to the tune of N1.611 billion to policyholders from inception of business in June 1, 2021 to the end of third quarter 2022.
The breakdown of the claims settlement, he said showed that Heirs Insurance paid a total of N303 million as claims in 2021 and N550 million as at this period of 2022.
While Heirs Life paid a total of N58 million as claims at the end of 2021 and N700million at the end of Q3 2022.
“We recognized the need to pay claims. We always look for reasons to pay and not reasons not to pay. Consequently we made our claims settlement process simple and seamless”, he assured.

Also, speaking the Managing Director, Heirs Insurance, Dr. Adaobi Nwakuche, stated that in a bid promote insurance penetration and services for customers the company during the year introduced 33 new products while Heirs life introduced 16 new products adding that two firm has gotten approval for more.
“We are very deliberate about creating new products in the market that will differentiate us from what other people are doing. We provide simple and easy to understand insurance products. We want to change the narrative, we want to do what will delight our customers”, she assured.