AIICO Insurance

AIICO Insurance was founded in 1963 as the American International Insurance Company and has been listed on the Nigerian Exchange since 1990, operating as a composite insurer across Life Insurance and Annuity, General Insurance, Health Management, and Asset Management. Its principal subsidiaries are AIICO Capital, restructured in 2025 to add investment banking alongside asset management, and AIICO Multishield, its health maintenance organisation.

AIICO's audited FY2025 results, released in the first half of 2026, showed Gross Written Premium up 20% to ₦191.66 billion and Insurance Revenue up 26% to ₦137.03 billion, with Profit Before Tax surging 53% to ₦24.36 billion and Profit for the Year up 49% to ₦22.68 billion. The Life Insurance segment was the primary driver, with revenue growing 34.1% to ₦69.6 billion and normalised segment profit rising 221% to ₦16.6 billion, while General Insurance moved from a loss in 2024 to a positive insurance service result of ₦3.7 billion. Among subsidiaries, AIICO Multishield's profit rose 414.2% and AIICO Capital's investment income grew 108.6% to ₦15.4 billion, while Total Assets expanded 40% to ₦584.02 billion and Total Equity strengthened 46% to ₦98.69 billion.

MD/CEO Babatunde Fajemirokun said the performance reflected the steady execution of the company's strategy and the increasing strength of its core insurance businesses, achieved against a backdrop of elevated inflation, currency volatility, and global economic uncertainty.