Heirs Insurance Group has received strong credit ratings from Agusto&Co, which highlights the group’s financial stability, operational efficiency and increasing influence in the insurance market.

In its latest assessment, Agusto&Co upgraded Heirs Life Assurance (HLA) from ‘A’ to ‘A’ (long-term) while assigning it a short-term rating of ‘AI.’

Heirs General Insurance (HGI) was rated ‘A’ (long-term) and ‘AI’ (short-term). Both businesses were also issued a stable outlook, reflecting its retail presence.

Agusto&Co noted that ratings reflect Heirs Insurance Group’s solid capitalisation, strong governance framework, and customer-focused strategy, which have positioned the firm as one of the fastest-growing players in the sector.

Reacting to the ratings, the Managing Director/Chief Executive Officer, Heirs Life Assurance, Niyi Onifade, said: “The upgrade is a clear endorsement of our financial strength and operational discipline,” while the Managing Director, Heirs General Insurance, Wole Fayemi, described it as a validation of the company’s balance sheet strength and prudent underwriting approach.

Heirs Insurance Group, the insurance subsidiary of Heirs Holdings, operates through Heirs General Insurance, Heirs Life Assurance, and Heirs Insurance Brokers, with a growing retail footprint and digital platforms designed to broaden access to insurance. The group assured that it remained committed to driving financial inclusion and democratising insurance in the country.