AIICO Insurance Plc had reported a 26.5 per cent increase in revenue, representing N137 billion for the year ended December 31, 2025, driven by stronger underwriting performance, improved investment income, and broad-based growth across its insurance and asset management businesses.

Gross premiums written (GPW) rose 20.2 per cent to hit N191.7 billion, compared with N108.4 billion in 2024, underscoring sustained demand for insurance products despite inflationary pressures and weaker consumer spending.

 

The company said normalised profit after tax — excluding one-off foreign exchange gains — surged 195.4 per cent to N23.7 billion, exceeding internal forecasts by 23.1 per cent.

 

AIICO attributed the performance to disciplined underwriting, improved risk selection, and stronger pricing across its business segments.

 

Life insurance revenue rose 34.1 per cent to N69.6 billion, while normalised profit increased 221 per crnt to N16.6 billion, supported by higher uptake of annuities, savings-linked policies, and ordinary life products.

 

The general insurance unit swung back to profitability, posting an insurance service result of N3.7 billion compared with a loss in the prior year, driven by tighter underwriting controls and improved claims management.

 

AIICO Multishield, the health subsidiary, recorded a 414.2 per cent increase in profit to N144.3 million, reflecting rising demand for prepaid healthcare services.

 

AIICO Capital posted a 108.6 per cent increase in investment income to reach to N15.4 billion, while net investment income across the group rose 45.9 per cent to N61.2 billion.

 

Insurance service margin improved to 9.1 per cent from a negative 2.8 per cent in the previous year, reflecting a strong operational turnaround.

 

Total comprehensive income rose by 89 per cent to N33.5 billion, strengthening the group’s capital position and ability to meet policyholder obligations.

 

The company declared a dividend of 12 kobo per share, payable June 5, 2026, and reported a 31.2 per cent normalised return on equity.

 

Commenting, Chief Executive Officer, Mr. Babatunde Fajemirokun said the results reflected ‘disciplined execution, prudent risk management, and targeted investments’ amid macroeconomic transition and ongoing policy reforms.