WorldStage Newsonline– AIICO Insurance Plc has released its result for the first quarter (Q1) of 2025 with profit after tax declining by 49.57 per cent from N9.26 billion in Q1 2024 to N4.67 billion .
Details of the performance were contained in AIICO’s unaudited financial results for Q1 2025, which were released through the Nigerian Exchange Limited (NGX) showed that profit before tax also saw a significant drop, decreasing by 50 per cent from N10.28 billion in Q1 2024 to N5.17 billion in Q1 2025.
The company’s revenue increased from N22.67 billion in Q1 2024 to N32.81 billion in Q1 2025, reflecting strong top-line performance amid economic challenges.
Total comprehensive income followed the downward trend, falling 39 per cent year-on-year, from N7.98 billion in Q1 2024 to N4.87 billion in Q1 2025.
In contrast, the company’s gross written premium increased by 12 per cent, rising from N49.08 billion in 2024 to N54.81 billion in the corresponding period of 2025.
Insurance service expenses rose by 12 per cent as well, from N17.76 billion in Q1 2024 to N19.95 billion in Q1 2025, reflecting higher operational costs.
In spite of challenges in profitability, AIICO’s total assets grew by 6 per cent, climbing from N416.38 billion in Q1 2024 to N439.72 billion in Q1 2025.
This mix of performance highlights the company’s revenue strength while also underscoring pressures on margins and rising costs across the insurance sector.
