AIICO Insurance Plc has projected a strong financial performance for the first half of 2026, driven by a significant expansion in insurance revenue and strategic investment income.
According to the latest earnings forecast prepared in alignment with the IFRS 17 accounting standard, the company anticipates a Gross Written Premium of approximately N68.4 billion for the initial period.
This surge is anchored by a projected insurance revenue of N37.8 billion, reflecting the company’s resilient market position and its ability to navigate the complexities of the new global reporting framework.
The insurer expects a profit after tax of approximately N5.06 billion, a figure supported by a healthy insurance service result of N3.26 billion and a substantial net investment income exceeding N20.8 billion.
Despite potential headwinds from foreign exchange fluctuations, which impacted previous cycles, management remains optimistic about maintaining a sustainable growth trajectory.
The forecast also indicates a strong liquidity position, with closing cash and cash equivalents expected to reach N24.08 billion by the end of the first quarter, ensuring that the company remains well-capitalized to meet its obligations to policyholders and shareholders alike.