AIICO Insurance Declares N136.7bn Revenue In 2025

AIICO Insurance Plc has declared Group revenue of N137.7 billion in its unaudited results for the year ended December 31, 2025.

The company, in its results released on the Nigerian Exchange yesterday, showed that Group revenues increased 27.0 per cent year-on-year from N108.4 billion in the full year 2024 to N137.7 billion. Premiums written grew 20.3 per cent year-on-year to N191.8 billion from N159.4 billion in 2024.

Insurance service results improved to N9.5 billion in the full year 2025 from a loss of N3.0 billion in 2024, reflecting improved underwriting margins in both retail and commercial product lines.

Profits before taxes improved, while normalised profits excluding one-off items such as FX gains rose by 63.6 per cent to N20.4 billion in 2025 from N12.5 billion in 2024. Normalised profit after tax also increased by 54.0 per cent to N18.3 billion, up from N11.9 billion in 2024.

Profits in 2024 were supported by a net FX gain of about N10.9 billion, compared to a loss of N2.7 billion in the full year 2025.

The company’s total assets grew by 39 per cent to N579.667 billion from N416.481 billion in 2024, while shareholders’ funds rose by 40 per cent to N94.311 billion higher than N67.228 billion in 2024.

Speaking on the results, the managing director and chief executive officer of AIICO Insurance, Mr Babatunde Fajemirokun said, “Our performance for the year reflects the steady execution of our strategy and the increasing strength of our core insurance businesses. Insurance revenue grew 27.0 per cent to N137.7 billion, while normalised profits excluding FX effects rose 54.0 per cent year-on-year to N18.3 billion from N11.9 billion in the full year 2024.

“This improvement was driven by stronger insurance results, with service margins recovering to 6.9 per cent from a negative of 2.8 per cent in the prior year, underscoring the quality and sustainability of our earnings.”

He stated that “as we look ahead, we remain focused on deepening customer engagement, enhancing operational efficiency, and continuing investments that position the business for consistent, long-term value creation for our shareholders.”

On outlook, AIICO Insurance said, “it remains well positioned to respond to emerging opportunities as macroeconomic conditions continue to evolve. As global monetary conditions ease and investor sentiment toward emerging markets strengthens, our focus remains on reinforcing our core operations, strengthening our balance sheet, and enhancing service delivery across the business.

“Through disciplined capital allocation, prudent risk management, and continued investment in our operating platform, we are focused on building resilience, supporting sustainable growth, and delivering long-term value for our stakeholders.”