Insurance World

AIICO Insurance N53.82b Gross Premium Projection For Q3 To Be Driven By Life Business

BY NKECHI NAECHE-ESEZOBOR–AIICO Insurance Plc has announced that its gross written premium (GWP) for the third quarter of 2021 is projected to grow to N53.82 billion.

The notice released at the weekend also revealed that non-Life business represents 28% of the stated GWP while the ordinary life, goup Life and Annuity businesses represent 60%, 10% and 2% respectively.

The company added that ivestment income will be driven largely by both their bond investments and investment in other short term financial assets.

The insurer’s profit after tax is projected to stand at N3.052 billion for the Q3 ending September, 2021.

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