• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Company Results

AIICO Insurance reports N5 billion profit in 2021, a 4% high year on year

Net premium income stood at N57 billion in 2021 from N52 billion in 2020.

Zainab Iwayemi by Zainab Iwayemi
April 10, 2022
in Company Results
AIICO partners NGO to feed underprivileged community
Share on FacebookShare on TwitterShare on Linkedin

AIICO Insurance Plc has reported a profit of N5 billion profit for the year 2021, a slight rise from the N4.8 billion reported the previous year.

The year 2021 was a recovery year for the insurer as it improved its premium written and income during the year. However, a cursory look at the result shows that the amount reported as profit was almost flat despite that the insurer improved gross premium income by a whopping 17% to N70 billion from N60 billion during the pandemic period.

Further analysis shows that this was driven by high claims expenses accompanied by a loss in ‘other income’ during the period when compared with the previous year.

RelatedStories

Rights Issue: Sovereign Trust Insurance Plc lists 2.864 billion ordinary shares on NGX

Top 10 insurance companies based on premiums received in FY 2024 

April 19, 2025
AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade 

AIICO’s 2024 profit growth masks a claims-driven underwriting crisis

March 17, 2025

Key highlight of the report

  • Gross premium written was high by 16% to close at N71 billion from the N61 billion witnessed during the Covid year. This shows that the insurer rode on the year of recovery to improve its performance.
  • Net premium income stood at N57 billion in 2021 from N52 billion in 2020, the result shows a 11% high from the previous year following reinsurance expenses valued at N12 billion in 2021.
  • Net Claims expenses amounted to a negative N40 billion in 2021 against the positive N31 billion in the previous year, depicting a 226% difference in both years.
  • The insurer sustained an underwriting profit of N30 billion in 2021. The result is impressive when compared with the negative N37 billion in 2020.
  • The company’s total assets was down by N20 billion, representing 9% dip from N243 billion to N222 billion in 2021.

What you should know

As of market close on Friday, 8th April 2022, the market capitalization of AIICO Insurance was N24.5 billion while its share sold at N0.67


Follow us for Breaking News and Market Intelligence.
Tags: AIICO InsuranceAIICO Insurance - Financials
Zainab Iwayemi

Zainab Iwayemi

For further inquiries about this article, contact: Email: zainab.iwayemi@nairametrics.com Twitter: @IwayemiZainab LinkedIn: Zainab Iwayemi

Related Posts

Rights Issue: Sovereign Trust Insurance Plc lists 2.864 billion ordinary shares on NGX
Equities

Top 10 insurance companies based on premiums received in FY 2024 

April 19, 2025
AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade 
Equities

AIICO’s 2024 profit growth masks a claims-driven underwriting crisis

March 17, 2025
AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade 
Blurb

AIICO needs to sustain first half of 2024’s growth and share price rally

August 19, 2024
AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade 
Company News

AIICO’s pre-tax profit soars by 121.55% in the second quarter of 2024, backed by an upgrade 

August 1, 2024
Leading Nigerian insurance firms pay N49.16 billion in claims for HY’ 2023 
Dividends

Top Nigerian insurance firms pay N40.439 billion in claims in Q1 2024 

July 17, 2024
Leading Nigerian insurance firms pay N49.16 billion in claims for HY’ 2023 
Exclusives

Top insurance firms’ claims payment jumps 18% to N142 billion in 2023  

May 16, 2024
Next Post
Elon Musk’s Tweets: Should one man have all that power?

Elon Musk wants Dogecoin available as a payment option for Twitter Blue subscription

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • SEPLAT tops trading value as All-Share Index hits N80 trillion; ACCESSCORP leads volume 
  • President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 
  • FG to establish National Design and Development Agency to support Nigerian innovators 

Follow us on social media:

Recent News

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

SEPLAT tops trading value as All-Share Index hits N80 trillion; ACCESSCORP leads volume 

July 14, 2025
President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 

President Trump issues 50-day ultimatum to Putin, threatens 100% tariffs over Ukraine war 

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

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

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics