Heirs Insurance Group, HIG, a fast growing insurance group in Nigeria, has announced a remarkable growth in its financial performance for 2023, cementing its presence as a formidable institution in Nigeria.
In a statement, Heirs Insurance Group says its Gross Written Premium, GWP, Grew by sixty percent, reaching thirty-one point seven billion naira, up from nineteen point nine billion naira in 2022, Earned Insurance Revenue Increased by eighty percent, now at twenty billion naira, compared to eleven point three billion naira in 2022.
The statement said Profit Before Tax Surged by two hundred and fifty-eight point nine-seven percent, reaching four point two billion naira in 2023, up from one point one-seven billion naira in 2022.
The statement adds that Heirs Insurance Group paid a total of four point one billion naira claims in 2023, representing an increase of one hundred and fifty-six from one point six billion naira claims paid in 2022 and highlighted the innovative initiatives including its digital presence across various channels and its customer-focused Rewards and Loyalty programme.
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings and is founded and led by Tony Elumelu.
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