BY NKECHI NAECHE-ESEZOBOR: AIICO Insurance Plc (“AIICO”, or “the Group”) has released its annual report for the year ended 31 December 2022 with 23.3% growth in Gross Premium to ₦88.3 billion for full year ended 2022 against N71.62 billion reported in 2021.
Key Highlights
*Gross premium written grew by 23.3% from N71.62bn to N88.3bn
*Gross premium income went up by 22 % to
N86.04bn from N70.655bn.
*Net underwriting income grew from N61.10bn to N74.04bn
*Operating income appreciated by 35% from N13.76bn to N18.62bn
*Profit for the year rose to N7.552bn from
N4.916bn showing 39% growth
