AIICO Insurance Targets N7.4bn Profit, Higher Margin in H1
AIICO Insurance Plc has forecasted about N7.4 billion profit for the first half of 2025, according to its latest released earnings forecast report filled on Nigerian Exchange. The insurance company expect gross written premium for Q2 2025 to settle at N114.3 billion on expectation of improved business activities.
Insurance revenue for the period is estimated to settle at N67.2 billion, saying its 2025 projections is made based on seasonal trends of premium receipt with a consideration of actual premium receipt for the month of January 2025 while 2024 is actual premium cash flows.
AIICO said its non-Life business represents 39.3% of the stated gross written premium of the company in the period while the Retail Life and Group Life businesses represent 50.7% and 10.0% respectively.
The company said its investment income will be driven largely by bond investments and our investment in other financial assets. AIICO announced that its 2024 profits were affected by FX gains of about N10.8 billion due to the devaluation of the Naira.
“We expect insurance service results to increase 280% over 2024, pointing to more sustainable performance resilient to exogenous shocks.
“We expect the underlying, sustainable business performance to drive profitability in 2025. Insurance service margins are expected to increase from 4% to about 10% by H1 2025”, the insurer said. # AIICO Insurance Targets N7.4bn Profit, Higher Margin in H1
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