Heirs Insurance, Heirs Life Assurance begin bancassurance partnership with UBA

CEO of Heirs Life Assurance Niyi Onifade

Heirs Insurance Limited (HIL) and Heirs Life Assurance (HLA) on Wednesday announced a bancassurance partnership with the United Bank for Africa (UBA).

Managing director of Heirs Insurance, Adaobi Nwakuche, made the announcement in a statement issued in Lagos.

According to the statement, the partnership will permit the distribution of affordable and dependable insurance products at all UBA branches in Nigeria.

“We are pleased to partner with a trusted and innovative bank such as the UBA and this partnership will offer millions of people nationwide the financial security that is so needed.

“We are committed to our transformative path of improving the lives of Nigerians, while ensuring that insurance is made accessible to all,” she said.

The new bancassurance partnership, according to her, will underline the mission of the insurance firms in improving lives and transforming Africa, while democratising access to financial services.

Managing director of Heirs Life Assurance Niyi Onifade said the bancassurance partnership was one of the key ways the insurer was fulfilling its promise of accessibility to insurance.

According to him, the bancassurance partnership offers customers of all three entities an expanded distribution network and the ability to seamlessly transact banking and insurance needs in a single location.

Group managing director of UBA, Oliver Alawuba, said the partnership with Heirs Insurance and Heirs Life Assurance would significantly expand the bank’s branches and advance commitment to drive financial inclusion.

“Our customers and those of Heirs Insurance families will enjoy a bouquet of innovative and affordable products, through the rich distribution channels provided by UBA,” Alawuba said.

Heirs insurance and Heirs Life are the insurance subsidiaries of Heirs Holdings, a pan-African investment group, with a portfolio spread across 24 African countries and four continents.