Yes it seems that it can be inherited.
My Mum has high cholesterol and is slim, fit and healthy, but doesn't have diabetes.
Unfortunately I seem to have inherited that bad cholesterol trait from her, and am currently on Simvastatin too, and my cholesterol has dropped into the 3's now, and I'm having no problems with it.
I was diagnosed with diabetes before I started taking the statins by the way, so I only posted this as a new report, which some might find interesting, but I wouldn't want anyone to get too worried about it, until more follow ups and more research is done.