WorldStage– AIICO Insurance Plc has reported a profit after tax of ₦13.40 billion for the half-year ended 30 June 2026, representing a 19% increase from the ₦11.27 billion recorded in the corresponding period of 2025.
According to the unaudited consolidated financial statements filed with the Nigerian Exchange, the Group’s gross written premium rose to ₦104.72 billion, up 2% from ₦102.68 billion in H1 2025.
The results were approved by the Board and signed as part of the Group’s regulatory filings showed that insurance revenue grew more strongly to ₦74.93 billion from ₦65.43 billion, while insurance service expenses increased to ₦49.74 billion. This resulted in an insurance service result of ₦8.13 billion, an improvement from ₦7.38 billion in the prior year.
Net investment income before fair value changes surged 44% to ₦40.14 billion (H1 2025: ₦27.91 billion).
However, the Group recorded a net fair value loss of ₦10.41 billion, compared with a gain of ₦4.57 billion in the previous period.
After accounting for other items, the net insurance and investment result rose 37% to ₦25.73 billion.
Profit before tax stood at ₦15.05 billion (up 21% from ₦12.48 billion), while total comprehensive income for the period reached ₦14.85 billion. Basic earnings per share improved to 36 kobo from 30 kobo.
Balance Sheet Strength
Total assets grew 13% to ₦661.08 billion as at 30 June 2026, from ₦584.02 billion at the end of 2025.
The expansion was driven largely by financial assets, which rose to ₦546.16 billion.
Shareholders’ funds increased 11% to ₦108.41 billion, while total equity (including non-controlling interests) stood at ₦109.15 billion.
Total liabilities rose to ₦551.93 billion.
Cash and cash equivalents declined to ₦35.92 billion from ₦74.38 billion at year-end 2025, reflecting investment of funds into higher-yielding financial assets.
Company-Level Performance
The Company (standalone) also delivered solid results, with gross written premium and overall profitability tracking the Group’s positive trajectory.
AIICO Insurance Plc, one of Nigeria’s leading composite insurers, continues to benefit from growth in both life and general business lines as well as stronger investment returns, despite fair value volatility in the period.
