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Rating agency Agusto & Co, has assigned strong ratings to both Heirs Life Assurance and Heirs General Insurance.

Heirs Life Assurance (HLA), the Group’s specialist life insurance business, was upgraded from “A-“ to “A” (long-term), with a short-term rating of “A1”. Heirs General Insurance (HGI), the group’s general insurance underwriter, was rated “A-“(long-term) and “A1” (short-term).

Both firms received a “Stable Outlook”, reflecting the group’s financial strength, efficient claims management, and expanding market footprint, driven by customer-first innovations and digital capabilities. It further positions the group as a trusted partner, committed to simplifying access to insurance and ensuring long-term value creation.

Agusto & Co. noted that the new ratings for both companies reflect the robust capitalisation, expanding market share, and operational resilience of the companies. The stable outlook across both entities affirms the group’s effective governance framework and consistent execution of its strategy.

Commenting on the upgraded ratings, MD/CEO, Heirs Life Assurance, Niyi Onifade, said: “This recognition from Agusto & Co. is a clear endorsement of our financial strength and operational discipline. The upgrade from “A-“to “A” for long term, and short-term rating of “A1”, both highlight the progress we have made in building a trusted, customer-first insurance company. The Stable Outlook assessment also reassures our customers and partners that Heirs Life remains a reliable insurer with the capacity to deliver on its promises.”

In his comment, the Managing Director, Heirs General Insurance Wole Fayemi, said “Our affirmed rating of “A-“with a stable outlook validates our consistent performance and commitment to excellence. It reflects the strength of our balance sheet, prudent underwriting philosophy, and focus on delivering exceptional service to our customers.”

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