Insurance companies Insurance Limited and Heirs Life Assurance, have made new appointments to senior leadership positions and announced a corporate name change for Heirs Insurance Limited.
In a statement issued on Monday, the firm revealed that Heirs Insurance Limited will now be referred to as Heirs General Insurance Limited.
Heirs General Insurance also announced the appointment of Wole Fayemi to the role of Managing Director /Chief Executive Officer effective Tuesday.
Wole Fayemi has over two decades of experience in the Nigerian insurance industry. Before joining HGI, he served as Executive Director, Technical, Old Mutual General Insurance, where he led the operations team to achieve top-line growth, re-organised the structural re-alignment of processes for higher efficiency, and drove the strategic direction of the operations team.
Commenting on the new appointment, Fayemi said, “It is a privilege to take on this position. I have always been fascinated by the business track record of the Heirs Holdings Group and the significant impact Heirs General Insurance is making in the industry. I look forward to taking on this mantle of leadership and steering the company towards its next milestones.”
Speaking on the appointment, the Chairman, Heirs Holdings, the parent company of Heirs General Insurance and Heirs Life, Tony Elumelu, said, “Wole’s experience and vision for the insurance industry align with HGI’s mission. I have great confidence that he is the right leader for Heirs General Insurance, for the next phase of its business growth. His deep knowledge in the insurance industry and excellent business development skills will play an important role in the future of the company – driving business expansion and establishing the company as a 21st-century insurer.”
The Board of Directors of Heirs Life Assurance also announced the promotion of Tosin Bayo-Yusuf to the position of Executive Director/Chief Operating Officer. Tosin’s appointment follows the retirement of Wasiu Amao, the former Executive Director, Technical.
Tosin Bayo-Yusuf has a cumulative 17 years of work experience in the Nigerian Insurance industry. She joined Heirs Life in 2021 and has held several leadership positions as the Head, Individual Life Operations, and most recently, as the Head of Bancassurance, where she championed the bancassurance partnership with United Bank for Africa. She will support Heirs Life MD/CEO, Niyi Onifade, in driving the operations of the company.
The companies were founded in 2021 and offer customer-friendly, innovative products and services that simplify insurance and democratise access.
Heirs General and Heirs Life companies reiterated their commitment and support to their regulators, National Insurance Commission, in increasing the insurance penetration across Nigeria and redefining the insurance experience for millions of Nigerians. Both companies are subsidiaries of Heirs Holdings, a pan-African investment company with operations across twenty countries worldwide.