Heirs Insurance Group Hits Major Milestone as Two Subsidiaries Earn Spot on Financial Times’ List of Africa’s Fastest-Growing Companies

Heirs Insurance Group has recorded a remarkable achievement after two of its subsidiaries, Heirs Life Assurance and Heirs General Insurance, secured prestigious spots on the 2026 Financial Times ranking of Africa’s fastest-growing companies, reinforcing the group’s growing footprint in the continent’s insurance industry.

The highly respected ranking, compiled annually by the Financial Times in collaboration with global research company Statista, is widely regarded as one of Africa’s most credible benchmarks for measuring corporate expansion, resilience, and business performance.

The 2026 edition featured just 130 companies across multiple sectors, selected from a pool of over 9,000 businesses evaluated across the continent.

According to the ranking, Heirs Life Assurance emerged as the 7th fastest-growing company in Africa, while Heirs General Insurance secured the 41st position, placing both firms among an elite group of companies driving innovation, economic growth, and business transformation across the region.

The ranking measured companies based on their compound annual revenue growth between 2021 and 2024, with eligibility criteria requiring firms to demonstrate substantial and primarily organic growth.

Companies were also required to have generated at least $100,000 in revenue in 2021 and grown to a minimum of $1.5 million by 2024, while maintaining operational headquarters within Africa.

In a statement released on Thursday, Heirs Insurance Group described the dual recognition as a reflection of the exceptional growth recorded by both companies over the assessment period.

The group attributed its success to consistent financial strength, customer-focused innovation, an expanding portfolio of insurance products, and operational excellence designed to improve customer experience and financial accessibility.

Commenting on the recognition, Sector Head of Heirs Insurance Group, Niyi Onifade, expressed pride in the achievement, describing it as validation of the company’s unwavering commitment to delivering value and building sustainable growth through technology and innovation.

According to him, the company remains committed to transforming the insurance landscape in Africa through digital solutions and improved service delivery.

He added that the recognition reflects the spirit of excellence championed by the group’s parent company, Heirs Holdings, while reinforcing its ambition to deepen financial resilience and insurance penetration across the continent.

The recognition also comes shortly after the launch of PrinceAI, a multilingual generative artificial intelligence assistant introduced to simplify access to insurance services and improve customer engagement across Africa.

The platform is designed to provide real-time support and address long-standing barriers that have historically limited insurance adoption in many parts of the continent.

Nigeria recorded an impressive performance in the 2026 ranking, with 16 indigenous companies making the list across sectors such as finance, technology, healthcare, retail, manufacturing, telecommunications, and logistics.

Some of the Nigerian firms recognised include Sabi Holdings, Haul247 Technology, Remedial Health, OmniRetail, BUA Foods, Sundry Markets, and Termii, further underscoring the growing strength and competitiveness of Nigerian businesses in Africa.

Published both online by Statista and as a special supplement in the weekday edition of the Financial Times, the annual ranking has become a highly visible recognition of business excellence, celebrating companies that continue to drive growth, innovation, and economic development across the African continent.