Tycoon Tony Elumelu's Heirs Insurance hits two million customers, ranks among Africa's fastest-growing companies in 5 years
Billionaires Africa | 03.06.2026 09:35
Five years ago, Heirs Insurance did not exist. Tony Elumelu's team launched it publicly on June 1, 2021, into one of the most underpenetrated insurance markets on the continent, a country of more than 200 million people where fewer than one percent of GDP flows through insurance products and where decades of unpaid claims had made most Nigerians instinctively skeptical of the entire sector. The bet was that technology, speed and trust could crack open a market that had resisted formal insurance for generations. Five years later, the group has two million customers and two of its subsidiaries are ranked among Africa's fastest-growing companies by the Financial Times.
