AIICO Insurance Plc Predicts Profit After Tax of N3.05Billion in Q3 2021

Must Read

- Advertisement -

AIICO Insurance Plc has released its earnings forecasts for the third quarter of the year, Q3, ended 30 September 2021.

Gross Written Premium (GWP) projected for the third quarter of 2021 is N53.82 billion representing 75% of the 2021 full-year budget. The Non-Life business of Aiico represents 28% of the stated GWP while the Ordinary Life, Group Life and Annuity businesses represent 60%, 10% and 2% respectively.

Investment income will be driven largely by its bond investments and investment in other short term financial assets.

AIICO Insurance Plc Announces Change in Date of AGM

The company expects its Net premium income to stand at N43.13 billion. The Operating expenses saw a projection of N9.53 billion with Profit after tax projected at N3.05Billion.

The following non-cash transactions were included in the Statement of Profit or Loss and Other comprehensive income:

  • Depreciation of Non-current asset in line with the Group’s policy
  • Amortization of intangible assets
  • Net fair value gain/loss on financial assets.
- Advertisement -

Reinsurance expenses is projected at an average of 9% of the projected Gross Written Premium.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  BROKER PERFORMANCE REPORT: TOP TEN STOCKBROKERS FOR THE WEEK (28/06/2017 - 30/06/2017)

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

cmb coronation merchant bank brandspurng

The Fundamentals Of Factor Investing: An Application To Fixed Income

Coronation Merchant Bank experts analyze the fundamentals of the Factor approach to investing, the various types of Factor Investing, and its numerous benefits. The concept...
- Advertisement -
spot_imgspot_img

Latest News

The Fundamentals Of Factor Investing: An Application To Fixed Income

Coronation Merchant Bank experts analyze the fundamentals of the Factor approach to investing, the various types of Factor Investing,...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img