• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Thursday, May 15, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Business Unlimited

AIICO Releases 2020 Q1 Results

Nwanne Ikemefune by Nwanne Ikemefune
August 15, 2022
in Business Unlimited
0 0
0
AIICO Head office
0
SHARES
94
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

AIICO Insurance Plc continues winning stride with reported gross written premiums of N17.6bn, up 23% from the same period in 2019 (Q1 2019: N14.3bn)

The release by the insurer noted that growth was driven by sustained positive performance across the major lines of business of the Group: retail, corporate and institutional businesses.

The Group also recorded a 24% increase in profit before tax (PBT) of N1.44bn, compared to N1.17bn in Q1 2019. Profit after tax (PBT) also grew by 129% to N1.88bn, compared to N0.82bn attained in Q1 2019.

The managing director/chief executive officer, Mr Babatunde Fajemirokun, opens the performance “AIICO delivered excellent first quarter results, demonstrating the overall strength of or company and ability to continue to meet our obligations ti stakeholders even in the face of COVID 19 global pandemic. We are living in a period of unchanged waters and recognise the situation presents both challenges and opportunities. Our resilient business continuity plans and robust technology infrastructure ensured we remained in operation throughout the lockdown. We have rolled out additional digital channels for the convenience and safety of our customers, and our employees have embraced the Work-From-Home (WFH) concept- indeed this is the new normal”.

Mr Fajemirokun speaks further, “In light of these outcomes, we recorded strong growth in our retail life business, which grew by 34% to N10.97b (Q1 2019: N8.2bn); and an increase of 6% in our corporate and institutional business to N6.2b (Q1 2019: N5.9b). Within the period under review , the Groups balance sheet improved with total assets growing by 11% to N176bn compared to N159bn in Dec 2019. Shareholders funds, also rose by 0.28% to N27.99bn (Dec 2019: N27.91bn).

He added that “insurance has a critical role to play in the economy and business environment in which we operate. With the advent of this pandemic, we are seeing increasing requests from corporates trying to understand how insurance can be deployed as a strategy for building resilience within their businesses. On the retail side, we are seeing new trends emerge; one of which is the shift towards a low touch world, where close-contact interaction is discouraged. In response, we are positioning to take advantage of these trends and opportunities presented by the COVID 19 pandemic to reshape and disrupt the way we operate, interact and our go-to-market strategy. I am however confident that we will get through the difficult times and emerge stronger”.

AIICO Insurance is a leading composite insurer in Nigeria with a track record of serving our client that dates back over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension services as a means to create and protect wealth for individuals, families and corporate customers.

Previous Post

Insurance Horizon Stretches

Next Post

Leadway Calibrates Service By Claims Payment

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Leadway Advocates Safety First as Nigerians Embrace The New Year
Business Unlimited

Leadway Group Reinforces Creative Minds Community With Sponsorship Second-Year +234Art Fair

February 25, 2025
FIRS ICAN Members Dominate Profession, ICAN President Inaugurates Chapter, Commends Adedeji’ Leadership
Business Unlimited

No Hiding Place For Binance, FIRS Sues Cryptocurrency Company For $79.51b Over Alleged Economic Losses

February 19, 2025
FIRS ICAN Members Dominate Profession, ICAN President Inaugurates Chapter, Commends Adedeji’ Leadership
Business Unlimited

FIRS ICAN Members Dominate Profession, ICAN President Inaugurates Chapter, Commends Adedeji’ Leadership

February 5, 2025
Next Post
Leadway Calibrates Service By Claims Payment

Leadway Calibrates Service By Claims Payment

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
emPLE Partners LASPARK to Create And Sustain Green Lagos

emPLE Partners LASPARK to Create And Sustain Green Lagos

May 15, 2025
Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

May 14, 2025
Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

May 14, 2025
Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

May 12, 2025
Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

May 12, 2025
Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

May 11, 2025
Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

May 11, 2025
PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

May 8, 2025
Global Federation of Insurance Associations Creates Off-limits in Insurance Regulation

Global Federation of Insurance Associations Creates Off-limits in Insurance Regulation

May 7, 2025
Outstanding Sales Champions Fly High at Sanlam Annual Awards

Outstanding Sales Champions Fly High at Sanlam Annual Awards

May 3, 2025
ADVERTISEMENT

Recent News

emPLE Partners LASPARK to Create And Sustain Green Lagos

emPLE Partners LASPARK to Create And Sustain Green Lagos

May 15, 2025
Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

May 14, 2025
Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

Compulsory Insurance: Quantity Surveyors Come Onboard NAICOM Platform For Integrated Insurance

May 14, 2025
Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

Sovereign Trust Steams Ahead With Continuous Manpower Development, Focus Optimal Risk Management

May 12, 2025
Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

Insurance Industry Surrounds Aviation Risks as NAICOM Unveils Landmark Regulation For Leased Aircrafts,

May 12, 2025
Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

Sovereign Trust Steadily Pushes Insurance as Unbroken Membrane From Early Life, Makes Igbobi College Students Signpost

May 11, 2025
Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

Cassava Microinsurance Makes High Net-worth Presence at Retirement Summit

May 11, 2025
PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

PenCom Lauds Lagos Lead in CPS Implementation, Wants Periodic Pension Raises Extended to CPS Retirees

May 8, 2025
Global Federation of Insurance Associations Creates Off-limits in Insurance Regulation

Global Federation of Insurance Associations Creates Off-limits in Insurance Regulation

May 7, 2025
Outstanding Sales Champions Fly High at Sanlam Annual Awards

Outstanding Sales Champions Fly High at Sanlam Annual Awards

May 3, 2025
emPLE Unveils BETA Life: A Three-in-One Endowment Plan for Smarter Savings And Protection

emPLE Unveils BETA Life: A Three-in-One Endowment Plan for Smarter Savings And Protection

April 30, 2025
Half Year Claims Obligation, Sovereign Trust Pays N1.6bn

Soyinka lauds Nigerian Workers on May Day

April 30, 2025
NIA’ Fast Track, Transparent Claims Payment Collaboration With Fintech Gets Insurance Meets Tech (IMT) Endorsement

NIA’ Fast Track, Transparent Claims Payment Collaboration With Fintech Gets Insurance Meets Tech (IMT) Endorsement

May 3, 2025
Combatant PenCom Upholds Journalists Dignity, Moves to Recover N1.3bn Unpaid Pension Contributions From Media Organisations

Combatant PenCom Upholds Journalists Dignity, Moves to Recover N1.3bn Unpaid Pension Contributions From Media Organisations

April 29, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

emPLE Partners LASPARK to Create And Sustain Green Lagos

emPLE Partners LASPARK to Create And Sustain Green Lagos

May 15, 2025
Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

Public, Buildings Under Construction Joint Committee Insurance Pushes For Database For Underwriting Ease

May 14, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In