AIICO Insurance Plc has set an ambitious target of N114.3 billion in gross written premium for the first half of 2025, driven by seasonal trends in premium receipts and strong cash flows recorded in January 2025. The company’s earnings forecast, filed with the Nigeria Exchange, projects N67.2 billion in insurance revenue, with the non-life business contributing 39.3%, retail life accounting for 50.7%, and group life making up 10% of the total premium.
The insurer anticipates a significant improvement in its insurance service result, forecasting a 280% increase over 2024 figures. AIICO also expects its insurance service margin to rise from 4% to 10% by the end of June 2025, reflecting enhanced operational efficiency and profitability.
AIICO’s investment income is projected to be driven by its bond investments and other financial assets, supported by strong underlying business performance. However, the company foresees a net loss of N6.7 billion in cash and cash equivalents due to financing and investing activities. Despite this, it expects a net cash inflow of N18.6 billion from operating activities, underscoring its robust financial health.
This optimistic outlook follows AIICO’s recent financial performance, which saw the company post a 12% increase in profit after tax, rising to N13.6 billion in 2024 from N12.1 billion in the previous year.
AIICO’s projections highlight its confidence in sustaining growth and profitability in 2025, leveraging its diversified portfolio and strategic investments to deliver value to stakeholders.
