BY NKECHI NAECHE-ESEZOBOR—AIICO Insurance Plc has reported strong growth across its core business segments for the financial year ended December 31, 2025, with insurance revenue rising by 26.5 per cent to ₦137 billion from ₦108.4 billion recorded in 2024.
The company’s audited financial results also showed that gross premiums written increased by 20.2 per cent to ₦191.7 billion, reflecting sustained growth in customer acquisition and underwriting activities despite prevailing macroeconomic challenges.
It also posted a normalized profit after tax of ₦23.7 billion, representing a 195.4 per cent increase compared to the previous year. The insurer said the performance exceeded internal projections by 23.1 per cent, supported by improved underwriting discipline, higher investment income and operational efficiency.
The life insurance business remained the company’s strongest revenue driver during the year, with revenue growing by 34.1 per cent to ₦69.6 billion. Normalized profit from the segment rose by 221 per cent to ₦16.6 billion, driven largely by increased uptake of ordinary life products, annuities and savings-related policies.
While general insurance business also returned to profitability, posting an insurance service result of ₦3.7 billion compared to a loss recorded in 2024. The improvement was attributed to enhanced risk selection, better pricing models and prudent underwriting practices.
Its health management subsidiary, AIICO Multishield, recorded a 414.2 per cent increase in profit to ₦144.3 million, while investment subsidiary AIICO Capital grew investment income by 108.6 per cent to ₦15.4 billion.
The company’s insurance service margin improved significantly to 9.1 per cent from negative 2.8 per cent in the previous year, while net investment income rose by 45.9 per cent to ₦61.2 billion.
Commenting on the performance, the Managing Director and Chief Executive Officer, Babatunde Fajemirokun, said the results reflected the company’s disciplined execution strategy and commitment to delivering long-term value to customers and shareholders.
“In a year shaped by macroeconomic transition and evolving policy reforms, AIICO delivered solid performance across our businesses, reflecting steady execution of our strategy and our continued commitment to serve our clients with excellence,” he said.
He added that the company would continue to focus on prudent risk management, operational efficiency and targeted investments to sustain growth in 2026.
AIICO recorded a normalized return on equity of 31.2 per cent during the year and proposed a dividend of 12 kobo per share, scheduled for payment on June 5, 2026.
The insurer said its diversified portfolio, disciplined asset-liability management framework and continued investments in technology and customer service positioned the company to navigate market volatility and capitalize on emerging opportunities in Nigeria’s insurance sector.
Founded more than five decades ago, AIICO Insurance Plc remains one of Nigeria’s leading insurance and financial services providers, offering life insurance, general insurance, health management and investment solutions to individuals and corporate clients.
