AIICO Anticipates To Generate N53.82Bn As GWP By End Of Q3

Yemisi Izuora

AIICO Insurance Plc, in its forecast for the third quarter ending 30 September 2021, has made a projection of a N53.82 billion gross written premium (GWP ) representing 75 per cent of the 2021 full-year projection for the third quarter of 2021.

Also, Profit after tax is projected to be N3.052 billion.

According to a filing at the Nigerian Exchange, the Non-Life business represents 28% of the stated GWP while the Ordinary Life, Group Life and Annuity businesses represent 60%, 10% and 2% respectively.

Investment income will be driven largely by our bond investments and our investment in other short term financial assets.

AIICO is the market leader in Retail Life insurance and retirement services and is a market leader (top 3) in Non-Life insurance in Nigeria. The core insurance franchise is complemented by our leading insurance asset management and health management businesses.

AIICO also owns valuable financial and strategic assets including a controlling stake in Multishield Limited, and a 19% stake in Healthcare International Limited (both healthcare management organizations (“HMOs”)), and AIICO Capital Limited (an asset management wholly-owned subsidiary).

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