Rating Release
Agusto & Co. upgrades Heirs Life Assurance ratings to ‘A’ (long term) and ‘A1’ (short term), with a stable outlook.
The rating expires on 30 June 2026.
Agusto & Co. upgrades Heirs Life Assurance Limited’s (‘Heirs Life’ or ‘the Insurer’ or ‘the Company’) to ‘A’ (long term) and ‘A1’ (short term) ratings, supported by good profitability, strong liquidity profile, good capitalisation and affiliation with Heirs Holdings Limited, a diversified conglomerate in Nigeria with interests in commercial banking, investment advisory, asset management, power, real estate, hospitality, insurance and healthcare businesses. However, the rating is constrained by the limited operating history of the Company and the prevailing macroeconomic challenges.