Rating Release
Agusto & Co. assigns “A-” (long term) and A1 (short term) ratings to Heirs General Insurance Limited, with a “stable” outlook.
The rating expires on 30 June 2026
Agusto & Co. assigns ‘A-’ (long term) and ‘A1’ (short term) ratings to Heirs General Insurance Limited (‘Heirs General’ or ‘the Insurer’ or ‘the Company’) reflecting a good liquidity profile, good capitalisation levels, good profitability and operational synergies derived from the affiliation with Heirs Holdings Limited, a diversified conglomerate in Nigeria with subsidiaries in commercial banking, investment advisory, asset management, power, real estate, hospitality and healthcare sectors. However, the rating is constrained by the limited operating history, rising intra-group risks and the low insurance uptake by Nigerians.
