AIICO Insurance Plc has projected a gross written premium of N114.3bn for the first half of 2025, driven by seasonal trends in premium receipts and actual cash flows recorded in January 2025.
According to its earnings forecast filed on the Nigeria Exchange on Wednesday, the company expects insurance revenue for the period to reach N67.2bn, with the non-life business accounting for 39.3 per cent of the stated gross written premium. Retail life and group life businesses are projected to contribute 50.7 per cent and 10 per cent, respectively.
The insurer anticipates an improved insurance service result, forecasting a 280 per cent increase over 2024. It expects insurance service margins to rise from four per cent to about 10 per cent by the end of June 2025.
AIICO also projects investment income to be largely driven by its bond investments and other financial assets, alongside an underlying business performance expected to support profitability.
Despite a projected net loss in cash and cash equivalents of N6.7bn due to financing and investing activities, the company expects a net cash inflow of N18.6bn from operating activities.
The PUNCH reported that AIICO Insurance Plc has posted a profit after tax of N13.6bn for the financial period, representing a 12 per cent increase from the N12.1bn recorded in the previous year.
