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AIICO Insurance posts N69.5bn as revenue, grows PAT by 152.88% in Q3 2022

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AIICO Insurance Plc names Rotimi Okpaise as Non-Executive Director

Adebayo Obajemu

AIICO Insurance in its published Third Quarter report for the period ended 30 September 2022 achieved significant growth in its top line and bottom line figures, year on year.

The underwriting firm reported Gross premium written of N69.503 billion for the 9 months period, up by 27.12% from N54.674 billion reported in Q3 2021.

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Profit after tax grew year on year by 152.88% to N6.134 billion from N2.426 billion profit reported the previous year.

Earnings per share of AIICO Insurance grew to 17 kobo from the EPS of 7 kobo reported the previous year.

At the share price of 55 kobo, the P/E ratio of AIICO Insurance stands at 3.28x with earnings yield of 30.47%.

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