AIICO Insurance Declares Dividend Of 2 Kobo Per Share For Year Ended December 2021

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AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and out of the profit after taxation for the year ended 31st December 2021. They contained this in a disclosure on the resolution reached the annual general meeting, filed to the Nigerian exchange.

AIICO Insurance Plc reported a profit of a N5billion profit for the year 2021. A slight rise from the N4.8 billion reported the previous year. The year 2021 was a recovery year for the insurer, as it improved its premium and income during the year.

However, a cursory look at the result shows that the amount reported as profit was almost flat. Although the insurer improved gross premium income by a whopping 17% to N70 billion from N60 billion during the pandemic period. Also, AIICO Insurance Plc posted an N5.2 billion profit for the first quarter of the year 2022. A whopping 441% increase from the N0.96 billion it reported in the same period last year.

A cursory analysis of the data shows that the significant profit recorded is at the back of the impressive performance on investment and other income. The profit record is despite double-digit inflation as the company increased its other expenses by over 100% during the period.


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