Heirs General Insurance Limited (formerly Heirs Insurance Limited), and Heirs Life Assurance (HLA) have announced appointments to their senior leadership positions.
In a major restructuring move, the company also changed Heirs Insurance Limited to Heirs General Insurance (HGI).
Both companies typify Heirs Holdings’ trademark strategy of shaking up a sector, delivering value to customers and championing financial inclusion.
Heirs General Insurance announced the appointment of Wole Fayemi to the role of MD/CEO effective on May 1.
Fayemi has over two decades of experience in the Nigerian insurance industry. Prior to joining HGI, he was the executive director, technical at 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.”
Chairman of Heirs Holdings, 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 (ED/COO). Her 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.