Yemisi Izuora
In a year filled with economic twists and turns like rising prices and global uncertainties AIICO Insurance Plc has emerged as a beacon of stability and growth. Imagine a company not just surviving tough times, but thriving like a well-rooted tree pushing through rocky soil.
For the full year ended December 31, 2025, AIICO’s audited financial results paint a picture of remarkable success: insurance revenues jumped 26.5% to ₦137.0 billion from ₦108.4 billion in 2024, while gross premiums written—essentially the total value of policies customers signed up for—rose 20.2% to ₦191.7 billion. Even better, the company’s “normalized” profit after tax, which strips out one-time surprises like currency fluctuations, soared an incredible 195.4% to ₦23.7 billion. This means AIICO didn’t just meet expectations; it smashed through them, exceeding forecasts by 23.1% despite slower customer demand due to inflation. For everyday Nigerians, this translates to a trusted partner that’s growing stronger, ready to protect families, homes, and businesses when it matters most.
Think of AIICO’s business like a bustling family with different siblings each excelling in their own way. The life insurance arm, which covers things like savings plans, pensions, and family protection, stole the show. Revenues here grew 34.1% to ₦69.6 billion, with normalized profits exploding 221% to ₦16.6 billion—driven by popular products like ordinary life policies and annuities that help people build secure retirements. It’s like watching your savings grow steadily, even as life’s storms brew.
General insurance, protecting cars, homes, and businesses from accidents or disasters, turned a corner too. From a loss in 2024, it posted a healthy ₦3.7 billion insurance service result, up 171.2% year-on-year, thanks to smarter risk-picking and underwriting—basically, choosing the right customers and pricing policies fairly to avoid big payouts.
Meanwhile, AIICO Multishield, the health maintenance side, saw profits leap 414.2% to ₦144.3 million, fuelled by more people signing up for prepaid health plans amid rising medical costs. And AIICO Capital, the investment experts, boosted results 108.6% to ₦15.4 billion in investment income, proving their knack for growing money wisely even in shaky markets.
These aren’t just numbers on a page; they’re real stories of resilience. Despite Nigeria’s headline inflation hovering around 15% and global jitters from Middle East tensions pushing fuel prices over ₦1,100 per litre, AIICO’s insurance service margin flipped to a healthy 9.1% from a negative 2.8% last year. Net investment income hit ₦61.2 billion, up 45.9%, showing smart money management that cushions against economic bumps.
At the helm is Managing Director and CEO Babatunde Fajemirokun, whose visionary guidance has been the secret sauce. “In a year shaped by macroeconomic transition and evolving policy reforms, AIICO delivered solid performance across our businesses, reflecting steady execution of our strategy and our continued commitment to serve our clients with excellence,” Fajemirokun said. He highlighted how insurance margins recovered dramatically and noted the team’s focus on “disciplined execution, prudent risk management, and targeted investments” for 2026.
Under his watch, AIICO achieved a stellar 31.2% normalized return on equity—a measure of how efficiently the company turns shareholder investments into profits—and proposed a 12 kobo dividend per share, payable June 5, 2026, rewarding loyal investors.
Fajemirokun’s approach feels like a captain steering a ship through choppy waters with a clear map: prioritizing client needs, adapting to changes like Central Bank efforts to tame inflation toward single digits, and building buffers against forex volatility. This isn’t flashy hype—it’s proven strategy that positions AIICO ahead of the pack.
For existing customers, these results mean peace of mind: a company with deep pockets (total comprehensive income up 89% to ₦33.5 billion) that’s less likely to falter when claims roll in. Prospective policyholders see an insurer that’s diversified, innovative, and customer-focused—offering everything from whole life policies to auto coverage and wealth-building mutual funds. Investors, take note: in a market where others wobble, AIICO’s normalized profits outshone one-off FX gains from 2024, signalling sustainable strength.
Looking ahead, as global growth moderates and Nigeria navigates reforms with $49.53 billion in reserves bolstering stability, AIICO is geared up. Their “disciplined asset-liability management” framework acts like a safety net, mitigating market swings for clients and shareholders alike.
Founded over 50 years ago, AIICO isn’t chasing short-term wins; it’s crafting a legacy as Nigeria’s insurance powerhouse.
In simple terms, while others tighten belts, AIICO is expanding horizons—delivering protection you can count on and growth you can believe in. Whether safeguarding your family’s future or growing your wealth, AIICO stands tall as the brand of choice, today and for the years ahead.