WorldStage– AIICO Insurance Plc has released its financial forecast for the fiscal year ending December 31, 2026, projecting robust growth across key revenue lines despite foreign exchange headwinds.
According to figures prepared under the IFRS 17 accounting standard, the insurer expects Gross Written Premium (GWP) to reach N214.7 billion for the 12-month period, while Insurance Revenue is forecasted at N156.3 billion.
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Key Financial Highlights
Top-Line Performance: Gross Written Premium is projected at N214.75 billion, driven by Ordinary Life (41.3%), Non-Life (33.4%), and Group Life (11.4%) business segments.
Profitability: Profit Before Tax (PBT) is expected to reach N25.05 billion, with Profit After Tax (PAT) forecasted at N22.41 billion after estimated tax expenses of N2.64 billion.
Insurance Service Result: Insurance Service Result is projected at N14.55 billion, representing a 16.5% year-over-year increase in service results. Insurance service margins are set to improve from 9.1% in FY 2025 to 9.3% in FY 2026.
Investment Income: Net Investment Income is expected to stand at N73.32 billion, driven primarily by bond holdings and other financial assets.
FX & Market Impact: Anticipated profits will absorb an foreign exchange loss of roughly N1.75 billion resulting from the appreciation of the Naira.
Cash Flow Position: Net cash flows from operating activities are projected at N50.60 billion, bringing closing cash and cash equivalents to N34.60 billion at year-end.
The company highlighted that the continuous expansion of its core underwriting operations will provide a resilient foundation against external macroeconomic volatility throughout the fiscal year.
