{
  "id": 1487225,
  "title": "Heirs Insurance Group profit falls 15% to N9.53 billion despite 89% surge in premiums",
  "url": "https://urgent.news/2026/08/17/heirs-insurance-group-profit-falls-15-to-n9-53-billion-despite-89",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T13:22:35.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/08/17/heirs-insurance-group-profit-falls-15-to-n9-53-billion-despite-89-surge-in-premiums/"
  },
  "original_language": "en",
  "account": "Heirs Insurance Group (HIG) announced a 15% drop in profit to N9.53 billion for the year ending December 31, 2025, while premiums rose by 89%. The underwriting firm attributes this decline to macroeconomic challenges, especially foreign exchange fluctuations. Despite this, HIG's insurance business expanded dramatically, with gross written premiums jumping 88.5% to N115 billion from N61 billion in 2024.\n\nHeirs Life Assurance, HIG's specialized life insurance division, showed the most significant growth. Claims paid surged 121% to N14.4 billion, up from N6.5 billion in 2024. However, profitability took a hit due to foreign exchange pressures. Heirs General Insurance, the group's general insurance segment, also grew top-line but faced profitability challenges from similar pressures.\n\nNonetheless, the company's insurance underwriting operations expanded significantly, resulting in higher investment income of N2.5 billion, up from N5.7 billion in 2024. HIG was also recognized internationally, with its two underwriting arms, Heirs Life Assurance and Heirs General Insurance, listed among Africa's Fastest-Growing Companies by the Financial Times.\n\nThe Group's full-year financial statements were audited by PwC and approved by the National Insurance Commission (NAICOM). The 2025 performance indicates a rapidly scaling insurance business, but the key challenge remains sustaining profitability in Nigeria's volatile macroeconomic environment.",
  "summary": "Heirs Insurance Group (HIG) has reported a combined profit before tax (PBT) of N9.53 billion for the financial year ended December 31, 2025, representing a 14.9% decline from the N11.2 billion recorded in 2024. The post Heirs Insurance Group profit falls 15% to N9.53 billion despite 89% surge in premiums appeared first on Nairametrics .",
  "key_points": [
    "Heirs Insurance Group profit fell 15% to N9.53 billion in 2025",
    "Premiums surged 89%, driven by insurance business expansion",
    "Heirs Life Assurance saw 121% increase in claims paid"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}