WorldStage Newsonline– AIICO Insurance Plc (AIICO) has released its audited results for the interim period ended 31 December 2023 with 32% growth in IFRS 17 revenue to ₦72.6 billion.
The report showed that premiums written grew 25% to ₦110.1 billion.
“Commenting on the results, Mr. Babatunde Fajemirokun, the Managing Director and Chief Executive Officer said, “2023 was a strong year for AIICO. Despite facing macroeconomic challenges, we demonstrated resilience and strength, achieving significant success across our business lines. As our customers navigate the complexities of the economic landscape, we recognize the increasing role we play as a stabilizing force amidst the current volatility in their lives. AIICO Insurance remains committed to fulfilling this role, providing support and products that help people manage their emerging risks better.
“We ended the year with a solid quarter, witnessing growth across our business lines, resulting in a commendable increase in profits to ₦12.0 billion,” stated Mrs. Bisola Elias, CFO of AIICO Insurance. “Notwithstanding the hurdles posed by the macroeconomic environment and supply constraints, our performance highlights the strength of our investment philosophy and strategic approach.”
