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MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  AIICO Insurance Plc    AIICO   NGAIICO00006

AIICO INSURANCE PLC

(AIICO)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 10/19
0.89 NGN   +5.95%
09/23AIICO INSURANCE : Supports Vulnerable Persons
AQ
09/16AIICO INSURANCE : Shifts Annual General Meeting to December
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08/05AIICO INSURANCE : Grows Premium By 26%
AQ
SummaryChartsNewsRatingsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

AIICO Insurance : records 23% growth in Q1 gross premiums

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05/29/2020 | 11:59pm EDT

AIICO Insurance Plc has reported gross written premiums of ?17.6bn, up 23% from the same period in 2019 which was N14.3bn.

The growth, according to the company, is driven by sustained positive performance across the major lines of business of the group: retail and corporate and institutional businesses.

The group also recorded a 24 per cent increase in profit before tax (PBT) of N1.44 billion, compared to N1.17bn in Q1 2019.

Profit after tax (PAT) also grew by 129 per cent to N1.88 billion, compared to N0.82 billion attained in Q1 2019.

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The company's Managing Director, Mr. Babatunde Fajemirokun, stated that 'excellent first quarter results' reported demonstrated the overall strength of the company and its ability to continue to meet obligations to stakeholders even in the face of the COVID-19 global pandemic.

He said strong growth was recorded in the retail life business, which grew by 34% to N10.97bn (Q1 2019: N8.2bn); and an increase of 6% in corporate and institutional business to N6.2bn (Q1 2019: N5.9bn).

Within the period under review, the group's balance sheet improved with total assets growing by 11% to N176 billion compared to N159 billion in Dec 2019. Shareholders' funds, also rose by 0.28% to N27.99 billion (Dec 2019: N27.91 billion).

© Pakistan Press International, source Asianet-Pakistan


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All news about AIICO INSURANCE PLC
09/23AIICO INSURANCE : Supports Vulnerable Persons
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09/16AIICO INSURANCE : Shifts Annual General Meeting to December
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08/05AIICO INSURANCE : Grows Premium By 26%
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06/25AIICO INSURANCE : to list 4.35b ordinary shares
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06/10AIICO INSURANCE : records N17.6b
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05/29AIICO INSURANCE : records 23% growth in Q1 gross premiums
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05/20AIICO INSURANCE : Posts N50bn Premium
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05/13AIICO INSURANCE : pays N1.7b claims
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05/12AIICO INSURANCE : Partners Chicken Republic
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Financials
Sales 2019 71 986 M 191 M 191 M
Net income 2019 5 784 M 15,3 M 15,3 M
Net cash 2019 7 451 M 19,8 M 19,8 M
P/E ratio 2019 0,87x
Yield 2019 -
Capitalization 12 101 M 31,8 M 32,1 M
EV / Sales 2018 0,03x
EV / Sales 2019 -0,03x
Nbr of Employees 559
Free-Float 72,9%
Chart AIICO INSURANCE PLC
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AIICO Insurance Plc Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 0,83 NGN
Last Close Price 0,89 NGN
Spread / Highest target -7,30%
Spread / Average Target -7,30%
Spread / Lowest Target -7,30%
Managers
NameTitle
Babatunde Fajemirokun Chief Executive Officer, MD & Director
Kundan Sainani Chairman
Oladeji Oluwatola Chief Financial Officer
Kadri Adewale Abass Executive Director & Head-Technical
Sobandele David Ayodeji Sobanjo Non-Executive Director
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