Heirs Holdings Fresh Hope For Nigeria’s Insurance Industry-Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos,has described the launch of Heirs Holdings’ new insurance businesses  – Heirs Insurance and Heirs Life Assurance  as a fresh hope for the nation’s insurance industry.

He spoke at the launch of the two insurance firms in Lagos,where he said Heirs Insurance and Heirs Life are bringing insurance that is simple, accessible, and affordable – three strong words that businesses of today need to thrive in highly saturated markets.

He said the firms  are two of the most liquid and well-capitalized insurance

companies currently,adding they are desirous to bring freshness into the nation’s insurance  sector.

He added: “Insurance to GDP is still relatively low in the country. We need to change the narrative and I am sure that Heirs Insurance and Heirs Life can change that. Looking at the people sitting on the board it is clear to me that you will bring your world of experience that is required to take this sector to greater heights”.

Speaking,the  National Commission for Insurance, Mr.Olorundare Sunday Thomas,said the timing of the launch could not have been more auspicious as the insurance commission is currently rolling out different initiatives for National development.

He added:”To Heirs Insurance and Heirs Life, I want to say thank you for coming into our industry, making a difference, impacting the economy, and helping us to deepen the insurance sector in Nigeria.”

The event also marked the commissioning of Heirs Towers, the 7-storey headquarters of Heirs Holdings, an impressive structure developed by Afriland Properties Plc, one of the investee companies of the Heirs Holdings group.

The chairman of Heirs Holdings, Tony O. Elumelu, introduced the leadership of both companies and their distinguished Board of Directors, all seasoned individuals with decades of Nigerian and international experience.

The CEOs, Dr. Adaobi Nwakuche, Ag. MD/CEO, Heirs Insurance Limited and Niyi Onifade, MD/CEO, Heirs Life Assurance Limited, both have decades of experience in the insurance industry.

In his earlier remarks, the chairman of Heirs Holdings Group, Tony Elumelu said Heirs Insurance and Heirs Life have a paid-up share capital of N10billion and N8billion respectively, and are backed by leading reinsurers, providing a second layer of security for clients’ insurance portfolios.

He assured  the readiness of both companies to usher in a new era in the insurance industry,adding that they demonstrate the vision of Heirs Holdings to position the private sector as a key enabler of economic and social wealth creation in Africa.

He added:“Heirs Insurance and Heirs Life once again demonstrate our core purpose of improving lives and transforming Africa.  In our years of operations.  Across different industries and countries, we have become synonymous with customer focus and the highest levels of corporate governance.  These are the hallmarks for these new businesses.  We know that our promise, our people and our proven track record will transform the insurance industry, put the customer first and empower people, in good and bad times”.