AIICO grows gross written premium by 14% in Q1
Lagos, May 2026 (TBL Africa) AIICO Insurance Plc has reported a 14 per cent increase in gross written premium to N62.58 billion for the period ended March 31, 2026.
This is from N54.81 billion recorded in the corresponding period of 2025.
The company’s unaudited financial results released on Tuesday, through the Nigerian Exchange Ltd., showed that insurance revenue increased by 12 per cent from N32.81 billion to N36.67 billion
Insurance service result rose marginally by three per cent to N4.18 billion from N4.07 billion.
Insurance service expenses, however, increased by 24 per cent to N24.64 billion, impacting the insurance service result from contracts issued, which declined by six per cent to N12.03 billion.
AIICO posted strong investment performance, with net investment income before fair value changes rising by 46 per cent to N18.81 billion from N12.91 billion.
The firm also recorded net fair value gains on financial assets of N9.77 billion, compared to a marginal loss in the corresponding period of 2025.
Profit before tax rose by 13 per cent to N5.85 billion from N5.17 billion in 2025, while profit for the period increased by 12 per cent to N5.22 billion from N4.67 billion.
Total assets grew by 12 per cent to N652.77 billion as at March 31, 2026, compared with N584.02 billion at the end of 2025.
Shareholders’ funds increased by six per cent to N103.50 billion, while total equity stood at N104.27 billion.
Earnings per share improved to 14k from 13k recorded in the corresponding period of 2025.
