Heirs Life Assurance appoints Pastor Jerry Eze to Board

Heirs Life Assurance, the specialist life insurance company of Heirs Insurance Group, has appointed the Founder and Lead Pastor of Streams of Joy International Ministry, Pastor Jerry Eze, as an Independent Non-Executive Director on its Board.

His appointment takes effect on Monday, August 10, 2026.

This is contained in a statement seen by Nairametrics.

What they are saying

Heirs Life said the appointment is part of its efforts to expand financial inclusion and accelerate insurance adoption in Nigeria by strengthening public trust, consumer education, and long-term financial resilience.

Tony Elumelu, Chairman of Heirs Life Assurance, said the company was pleased to welcome Eze to the Board and the wider Heirs Insurance Group.

• “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities,” Elumelu said.

He added that Eze’s experience and influence would support the company’s efforts to democratise access to insurance, strengthen consumer trust, deepen financial inclusion, and improve financial protection for millions of Nigerians.

Commenting on his appointment, Eze said he was honoured to join the Board at a defining period for Nigeria’s insurance industry.

• “Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience,” he said.
• “I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”

Heirs Insurance Group, which comprises Heirs Life Assurance, Heirs General Insurance, and Heirs Insurance Brokers, currently serves more than 3 million people directly and indirectly.

Get up to speed

Despite being Africa’s largest economy, Nigeria’s insurance penetration remains low, underscoring the need to expand financial protection and improve public confidence in insurance products.

Data from the National Bureau of Statistics (NBS) showed that though Nigeria’s finance and insurance sector grew by 14.54% in 2025, up sharply from 2.95% in 2024, insurance lag behind.

In real terms, financial institutions accounted for 90.43% of the sector’s output in the fourth quarter of 2025, while the insurance subsector contributed 9.57%.

The figures highlight the continued dominance of financial institutions within the broader finance and insurance sector and the relatively smaller contribution of insurance.

Who is Pastor Jerry Eze?

Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a multinational ministry with branches across West Africa, Southern Africa, Europe, and North America.

• He is also the convener of New Season Prophetic Prayers and Declarations (NSPPD), a digital prayer platform that reaches millions of people globally.
• Through his ministry and humanitarian initiatives, Eze has emerged as an influential voice in Africa, with a focus on community development, compassion, and social impact.

He is also the Founder of the Jerry Eze Foundation, a faith-based philanthropic organisation that provides housing support and grants to vulnerable and underserved communities.

• In 2026, Eze announced N1 billion in grants for young entrepreneurs in agriculture, technology, and manufacturing, with the aim of supporting enterprise development and economic opportunity.
• Before entering full-time ministry, Eze worked in development communications, including as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA).

He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.

What you should know

Eze’s appointment comes shortly after the conclusion of the insurance industry’s recapitalisation exercise, with Heirs General Insurance Limited and Heirs Life Assurance Limited meeting the July 31, 2026 compliance deadline.

• The National Insurance Commission (NAICOM) had listed 43 companies as compliant with the new capital requirements. The list comprised 23 non-life insurers, 10 life insurers, eight composite insurers, and two reinsurers.
• The recapitalisation exercise followed the enactment of the new insurance law signed by President Bola Ahmed Tinubu on July 31, 2025.

The exercise gave insurance operators a 12-month compliance period to meet the revised capital requirements and strengthen the sector’s capacity to support long-term economic growth.