Heirs Insurance companies – Heirs General Insurance Limited (formerly Heirs Insurance Limited) and Heirs Life Assurance (HLA), have announced appointments to their senior leadership positions, as well as the name change of Heirs Insurance Limited to Heirs General Insurance (HGI).
Heirs General Insurance announced the appointment of Wole Fayemi to the role of MD/CEO effective May 2, 2023, while Tosin Bayo-Yusuf takes on the position of Executive Director/Chief Operating Officer of Heirs Life Assurance.
Wole Fayemi has over two decades of experience in the Nigerian insurance industry. Prior to joining HGI, he served as 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, Wole 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, Tony O. Elumelu, CFR, Chairman, Heirs Holdings, parent company of Heirs General Insurance and Heirs Life, 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 in the next phase of its business growth. His deep knowledge of 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.”
Tosin’s appointment, on the other hand, 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, including as the Head of 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 and CEO, Niyi Onifade, in driving the operations of the company.
Heirs General and Heirs Life companies reiterated their commitment and support to their regulators, the National Insurance Commission, in increasing 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.