Despite 12% Growth In Premium, AIICO Insurance Profit Drop 19% In Q1 2021

BY NKECHI NAECHE-ESEZOBOR--AIICO Insurance Plc, at the weekend said its profit for the first quarter ended 31 March 2021 depreciated by 19% to N1.506 billion wen compared to N1.855 billion in Q1 2020.

The insurer made this known when it released its unaudited interim report and financial statements for the period ended 31 March 2021.

However, gross premium written rose by 12% from N17.551 billion in same period of 2020 to N19.691 billion in 2021.