AIICO Insurance Sets N5.1bn Profit Target for Q1-2026

AIICO Insurance Sets N5.1bn Profit Target for Q1-2026

AIICO Insurance Plc has set N5.088 billion as expected profit for the first quarter of the financial year 2026, the company disclosed in its earnings forecast.

Details showed that AIICO Insurance is targeting N68.362 billion in gross written premium from January to March 2026, with key drivers being insurance revenue and net investment income.

Insurance service results for the period in expected to print at N3.255 billion with the hope of achieving N37.822 billion in insurance revenue while projecting N29.453 billion as insurance service expenses.

The review of AIICO Insurance earnings forecast note revealed that management is anticipating rake -in N20.852 billion in net investment income in the period. The insurer forecasted investment income to print at N20.749 billion in Q1.

Profit from deposit administration is expected to be negative at N60.289 million, and N25.762 million would be taken through its profit or loss account as net fair value losses for the period.

It also made provision for N28 million as the company’s net impairment charges amidst expectations that its dollar asset will deliver net foreign exchange income totalling N217.637 million in Q1-2026.

AIICO Plc projected net finances from insurance contracts to print at N14.500 billion, while it anticipates a net inflow of N101 million from re-insurance contracts.

Net insurance and investment result for the first quarter of 2026 is anticipated to settle at N9.708 billion, in addition to about N700 million in income from other sources.

Total expense is projected to reach N4.758 billion, with a pre-tax profit projection of N5.649 billion. The insurance company is eyeing N5.028 billion as net profit after it adjusted its estimated tax expenses provision of N591.608 million for Q1-2026. Zenith Bank: Investors Hold Position Amidst Marginal Dip