WorldStage Newsonline– AIICO Insurance Plc has announced its unaudited results for the interim period ended 30 September 2024 with insurance revenue rising by 50.0% to N77.0 billion.
According to a statement, the third quarter, profits grew by 109.6% to reach N12.4 billion while Premiums written grew 53.7% to N130.9. billion.
Mr. Babatunde Fajemirokun, Managing Director and Chief Executive Officer, said the company delivered strong results in the third quarter and the growth reflected disciplined approach to capital allocation.
“We invest in opportunities that align with our long-term strategy, while maintaining a solid capital-return profile, even as we navigate persistent inflationary pressures,” he said.
“Our focus is on strengthening client relationships, expanding our customer base, and positioning the firm for sustainable growth and long-term shareholder value.”
In her part, Mrs. Bisola Elias, CFO of AIICO Insurance said, “During the third quarter, profits grew by 109.6% to reach ₦12.4 billion, highlighting the strength of our business model as well as our prudent risk management.”
