AIICO INSURANCE PLC |
EARNINGS FORECAST FOR THE 9 MONTHS ENDING 30 SEPTEMBER 2025 |
This is prepared using IFRS 17, the new insurance reporting format. The Company transitioned to IFRS 17, effective 1 January 2023. |
1. Gross Written Premium projected for 9M 2025 is N152.2 billion. Insurance revenue for the period is N98.7 billion. The 2025 projections is made based on seasonal trends of premium receipt with a consideration of actual premium receipt for the month of January 2025 while 2024 is actual premium cashflows. |
2. The Non-Life business represents 39.3% of the stated GWP while the Ordinary Life and Group Life businesses represent 27.3% and 11.5% respectively. |
3. Investment income will be driven largely by our bond investments and our investment in other financial assets. |
4. The following non cash transactions were included in the Statement of Profit or Loss and Other comprehensive income: |
|
PERIOD: 9 MONTHS | IFRS 17 |
FROM JANUARY 1, 2025 | |
TO SEPTEMBER 30, 2025 | Sep-25 |
N'000 | |
Gross Written Premium | 152,154,998 |
Insurance Revenue | 98,746,524 |
Insurance Service Expense | (72,038,116) |
Net Expenses from Reinsurance Contracts | (17,919,055) |
Insurance Service result | 8,789,352 |
Investment income | 34,008,575 |
Profit from deposit administration | (66,611) |
Net fair value (losses)/gains | (50,926) |
Net change in investment contract liabilities (NPF) | 204,634 |
Net foreign exchange income/(expense) | 1,763,234 |
Net investment income | 35,858,905 |
Net Finance expense from Insurance Contracts | (30,436,311) |
Net Finance Income from Reinsurance Contracts | 1,138,296 |
Net insurance finance result | (29,298,015) |
Net insurance and investment result | 15,350,242 |
Other income | 1,092,887 |
Other Expenses | (878,332) |
Profit before income tax | 15,564,797 |
Income tax expense | (1,556,480) |
Profit after tax | 14,008,317 |
PERIOD: 9 MONTHS |
FROM JANUARY 1, 2025 |
TO SEPTEMBER 30, 2025 |
Sep-25 |
N'000 |
20,801,394 |
(29,465,673) |
(2,562,370) |
(11,226,649) |
19,613,904 |
8,387,255 |
Net cash flows from operating activities |
Net cash flows from investing activities |
Net cash flows from financing activities |
Net increase in cash and cash equivalents |
Cash and cash equivalents - Opening |
Cash and cash equivalents - Closing |
Babatunde Fajemirokun (MD) | Date: 10 June 2025 |
Bisola Elias (CFO) | Date: 10 June 2025 |
"AIICO Insurance Plc has a dedicated investors' portal on its corporate website which can be accessed via this link:
https://www.aiicoplc.com/index.php/about-us-aiico/investorrelations. The Company's Investors' Relations Officer can also be reached through electronic mail at: ir@aiicoplc.com ; or telephone on: +234 (0)809 229 9108 for any investment related enquiry".