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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

AIICO Insurance

AIICO · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
AIICO Insurance Plc
Listing
AIICO on the Nigerian Exchange, active · ISIN NGAIICO00006 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Insurance Revenue

    NGN 137 billion

    137,028,260 NGN thousands · p78

    +26.5% vs 2024

    Insurer (IFRS 17): printed 'Insurance Revenue' 137,028,260 (Group, consolidated statement of profit or loss, p78); no revenue line in the commercial sense.

  • Insurance service result

    NGN 12.5 billion

    12,498,065 NGN thousands · p78

    Change not shown.

    Printed 'Insurance service result' 12,498,065 (p78), the insurer's technical result; no operating-profit line is printed.

  • Net investment income

    NGN 82.6 billion

    82,643,689 NGN thousands · p78

    +84.0% vs 2024

    Printed 'Net investment income' 82,643,689 (p78).

  • Profit for the year

    NGN 22.7 billion

    22,683,826 NGN thousands · p78

    +49.3% vs 2024

    Printed 'Profit for the year' 22,683,826 (p78).

  • Total assets

    NGN 584 billion

    584,018,689 NGN thousands · p77

    +40.2% vs 2024

    Printed 'Total assets' 584,018,689 (p77).

  • Total equity

    NGN 98.7 billion

    98,692,748 NGN thousands · p77

    +45.6% vs 2024

    Printed 'Total equity' 98,692,748 (p77).

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Insurance Revenue 137,028,260 108,354,8271 72,761,162
Insurance Service Expense (95,181,695) (86,637,364)2 (65,620,679)
Net Expenses from Reinsurance Contracts (29,348,499) (24,722,687) (8,753,832)
Insurance service result 12,498,065 (3,005,224)3 (1,613,349)
Investment income from effective interest4 60,483,246 41,070,645 Not reported in this filing5
Other investment income6 739,248 902,082 Not reported in this filing7
(Loss)/gain on investment contracts89 (389,317) 97,082 (557,705)
Net realised gain/(loss)1011 639,599 (106,980)12 (3,734,943)
Net fair value gain/(loss) on assets at fair value13 24,033,544 (7,857,510) (10,772,433)
Net foreign exchange (loss)/gain14 (2,806,532) 11,174,11715 11,020,963
Net impairment (loss)/reversal (56,098) (355,525)16 (165,784)
Net investment income 82,643,689 44,923,91117 26,915,916
Net Finance Expense from Insurance Contracts18 (58,674,519) (19,775,760)19 (9,158,728)
Net Finance Income from Reinsurance Contracts20 1,635,900 705,931 436,373
Net insurance finance result21 (57,038,619) (19,069,829)22 (8,722,355)
Net insurance and investment result 38,103,136 22,848,85823 16,580,213
Other Income 3,658,862 2,079,42124 2,737,231
Other Expenses (17,405,606) (9,004,855)25 (6,791,038)
Profit before income tax 24,356,391 15,923,42426 12,526,405
Income tax expense27 (1,672,565) (730,956)28 (20,658)
Profit for the year 22,683,826 15,192,46829 12,135,796
Attributable to non-controlling interest holders30 100,627 (2,243)31 53,778
Fair value gain on debt instruments3233 913,514 816,299 (168,255)
Impairment reversal/(charge) on FVTOCI3435 10,764 29,642 (8,516)
Deferred tax expense on fair value gains on debt instruments36 (199,325) –37 Not reported in this filing38
Recycling realised (gain)/loss on sale of debt instruments to profit or loss3940 (34,580) 252,404 –37
Fair value gain on equity securities41 2,820,162 2,033,240 1,878,060
Revaluation gain on property and equipment42 10,109,894 –37 Not reported in this filing43
Deferred tax expense on fair value gains on equity and PPE44 (3,032,968) –37 Not reported in this filing45
Deferred tax credit/(expense) on fair value gain/loss on equity instruments464748 178,696 (628,380) –37
Total other comprehensive income 10,766,156 2,503,205 1,701,288
Total comprehensive income for the year 33,449,982 17,695,67349 13,837,084
Attributable to owners of the parent50 33,353,261 17,589,78951 13,798,141
Attributable to non-controlling interests52 96,722 105,88453 38,943
Investment income54 Not reported in this filing55 Not reported in this filing5556 31,125,817
Minimum tax57 Not reported in this filing58 Not reported in this filing5859 (369,951)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.other_comprehensive_income.
Notes and alternative reported figures (58)
  1. Annual report dated 2025-03-31 prints 108,238,925 (thousands, p77) for this line and year.
  2. Annual report dated 2025-03-31 prints (86,638,972) (thousands, p77) for this line and year.
  3. Annual report dated 2025-03-31 prints (3,122,734) (thousands, p77) for this line and year.
  4. “Investment income from effective interest” is an issuer-specific line, not mapped to a shared definition: Note 20(a): within net investment income.
  5. Not reported in this filing: Not reported separately: included in 'Investment income' (note 19(a)), 31,125,817 for Group 2023, in the FY2024 consolidated statement of profit or loss and other comprehensive income (p77); the split into 'Investment income from effective interest' and 'Other investment income' first appears in the FY2025 statement. Checked on the page image.
  6. “Other investment income” is an issuer-specific line, not mapped to a shared definition: Note 20(a): within net investment income.
  7. Not reported in this filing: Not reported separately: included in 'Investment income' (note 19(a)), 31,125,817 for Group 2023, in the FY2024 consolidated statement of profit or loss and other comprehensive income (p77); the line 'Other investment income' first appears in the FY2025 statement. Checked on the page image.
  8. “(Loss)/gain on investment contracts” is an issuer-specific line, not mapped to a shared definition: Note 20(b): within net investment income.
  9. Printed under different labels across filings: “(Loss)/gain on investment contracts”; “Profit/(loss) on investment contracts”.
  10. “Net realised gain/(loss)” is an issuer-specific line, not mapped to a shared definition: Note 21(a)(i): within net investment income.
  11. Printed under different labels across filings: “Net realised (loss)/gain”; “Net realised gain/(loss)”.
  12. Annual report dated 2025-03-31 prints (98,098) (thousands, p77) for this line and year.
  13. Printed under different labels across filings: “Net fair value gain/(loss) on assets at fair value”; “Net fair value loss on assets at fair value”.
  14. Printed under different labels across filings: “Net foreign exchange (loss)/gain”; “Net foreign exchange gain”.
  15. Annual report dated 2025-03-31 prints 11,174,243 (thousands, p77) for this line and year.
  16. Annual report dated 2025-03-31 prints (313,228) (thousands, p77) for this line and year.
  17. Annual report dated 2025-03-31 prints 44,979,805 (thousands, p77) for this line and year.
  18. Printed under different labels across filings: “Net Finance Expense from Insurance Contracts”; “Net Finance expense from Insurance Contracts”.
  19. Annual report dated 2025-03-31 prints (19,803,382) (thousands, p77) for this line and year.
  20. “Net Finance Income from Reinsurance Contracts” is an issuer-specific line, not mapped to a shared definition: Note 24(b): within net insurance finance result.
  21. Printed under different labels across filings: “Net insurance finance expenses”; “Net insurance finance result”.
  22. Annual report dated 2025-03-31 prints (19,097,451) (thousands, p77) for this line and year.
  23. Annual report dated 2025-03-31 prints 22,759,620 (thousands, p77) for this line and year.
  24. Annual report dated 2025-03-31 prints 2,070,413 (thousands, p77) for this line and year.
  25. Annual report dated 2025-03-31 prints (9,013,410) (thousands, p77) for this line and year.
  26. Annual report dated 2025-03-31 prints 15,816,623 (thousands, p77) for this line and year.
  27. “Income tax expense”: mapping to a shared definition is uncertain. Income tax expense excluding minimum tax, which is printed as a separate line (native minimum_tax).
  28. Annual report dated 2025-03-31 prints (122,964) (thousands, p77) for this line and year.
  29. Annual report dated 2025-03-31 prints 15,100,488 (thousands, p77) for this line and year.
  30. “Attributable to non-controlling interest holders” is an issuer-specific line, not mapped to a shared definition: Note 10(e).
  31. Annual report dated 2025-03-31 prints (25,480) (thousands, p77) for this line and year.
  32. “Fair value gain on debt instruments” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified (note 18(d)).
  33. Printed under different labels across filings: “Fair value gain on debt instruments”; “Fair value gain/(loss) on debt instruments”.
  34. “Impairment reversal/(charge) on FVTOCI” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified (note 22(a)).
  35. Printed under different labels across filings: “Impairment reversal/(charge) on FVTOCI”; “Impairment reversal/(charge) on debt instruments at FVTOCI”.
  36. “Deferred tax expense on fair value gains on debt instruments” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified (note 18(d)).
  37. Not reported in this filing: Not reported separately: the FY2024 statement (p77) prints a single 'Deferred tax expense on fair value gains' line (Group 2023: '-'), under 'Items within OCI that will not be reclassified to profit or loss'; it has no separate deferred-tax line for debt instruments. Checked on the page image.
  38. “Recycling realised (gain)/loss on sale of debt instruments to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI reclassification (note 18(d)).
  39. Printed under different labels across filings: “Recycling realised (gain)/loss on sale of debt instruments to profit or loss”; “Recycling realised loss on sale of debt instruments to profit or loss”.
  40. “Fair value gain on equity securities” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 18(d)).
  41. “Revaluation gain on property and equipment” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 18(c)).
  42. Not reported in this filing: Not reported in this filing: the FY2024 statement of profit or loss and other comprehensive income (p77) has no 'Revaluation gain on property and equipment' line; its OCI lines are 'Fair value gain/(loss) on debt instruments', 'Impairment reversal/(charge) on debt instruments at FVTOCI', 'Recycling realised loss on sale of debt instruments to profit or loss', 'Fair value gain on equity securities' and 'Deferred tax expense on fair value gains'. Checked on the page image.
  43. “Deferred tax expense on fair value gains on equity and PPE” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 18(d)).
  44. Not reported in this filing: Not reported separately: the FY2024 statement (p77) prints a single 'Deferred tax expense on fair value gains' line (Group 2023: '-'); it has no separate 'Deferred tax expense on fair value gains on equity and PPE' line. Checked on the page image.
  45. “Deferred tax credit/(expense) on fair value gain/loss on equity instruments” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 18(d)).
  46. “Deferred tax credit/(expense) on fair value gain/loss on equity instruments”: mapping to a shared definition is uncertain. Printed under 'Items within OCI that will not be reclassified' after the equity fair value gain; the statement does not say whether it relates to equity or debt instruments.
  47. Printed under different labels across filings: “Deferred tax credit/(expense) on fair value gain/loss on equity instruments”; “Deferred tax expense on fair value gains”.
  48. Annual report dated 2025-03-31 prints 17,603,693 (thousands, p77) for this line and year.
  49. “Attributable to owners of the parent” is an issuer-specific line, not mapped to a shared definition: Attribution.
  50. Annual report dated 2025-03-31 prints 17,521,046 (thousands, p77) for this line and year.
  51. “Attributable to non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Note 10(e).
  52. Annual report dated 2025-03-31 prints 82,647 (thousands, p77) for this line and year.
  53. “Investment income” is an issuer-specific line, not mapped to a shared definition: Note 19(a): one line in FY2024 (FY2025 splits effective-interest and other investment income); within net investment income.
  54. Not reported in this filing: Not reported under this label in this filing: the FY2025 consolidated statement of profit or loss (p78, checked on the page image) has no 'Investment income' line; it prints 'Investment income from effective interest' (41,070,645 for 2024; 60,483,246 for 2025) and 'Other investment income' (902,082; 739,248) separately, both note 20(a), shown in the rows 'Investment income from effective interest' and 'Other investment income'. Their sum for 2024 (41,972,727) differs from the FY2024 report's 'Investment income' 41,977,317, so they are not the same printed line; not combined, not derived.
  55. Annual report dated 2025-03-31 presents this line for this year: 41,977,317 (p77). Not shown in this column, which follows one filing's presentation.
  56. “Minimum tax” is an issuer-specific line, not mapped to a shared definition: Note 9(b): minimum tax, printed separately from income tax expense below profit before income tax.
  57. Not reported in this filing: Not printed: the FY2025 consolidated statement of profit or loss (p78, checked on the page image) shows tax as one line, 'Income tax expense' (note 9(b)(i)); there is no 'Minimum tax' line, and the term 'minimum tax' does not occur anywhere in the document's text layer.
  58. Annual report dated 2025-03-31 presents this line for this year: (593,171) (p77). Not shown in this column, which follows one filing's presentation.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash and cash equivalents 74,378,708 35,161,5421 18,423,224
Financial assets at amortised cost2 157,889,695 144,070,0563 105,049,949
Fair value through other comprehesive income4 30,423,691 19,154,638 20,244,350
Fair value through profit or loss5 259,987,583 178,406,331 141,438,060
Loans and advances6 1,343,111 78,963 –7
Trade receivables89 1,444,888 1,573,89410 980,753
Reinsurance contract assets 27,992,833 21,097,467 17,116,370
Other receivables and prepayments11 5,998,952 4,043,32312 3,662,559
Deferred tax assets 115,325 115,32513 122,472
Investment in subsidiaries14 –7 –7 –7
Investment properties –7 1,080,000 707,500
Property and equipment 20,081,075 9,207,17315 8,311,086
Statutory deposits16 500,000 500,000 500,000
Right of use assets 92,275 142,211 132,512
Goodwill and other intangible assets17 3,770,552 1,858,65618 1,510,600
Total assets 584,018,689 416,489,57819 318,199,434
Insurance contract liabilities 345,149,698 262,019,62020 218,022,200
Investment contract liabilities 5,623,326 4,615,131 3,855,324
Reinsurance contract liabilities 971,474 271,879 930,616
Other technical liabilities21 7,264,752 8,809,308 2,423,168
Trade payables22 1,978,167 3,138,521 1,612,909
Other payables and accruals23 21,472,928 15,337,58724 8,335,957
Fixed income liabilities25 97,454,037 53,040,546 30,241,800
Current income tax payable 1,720,549 814,43926 828,952
Deferred tax liabilities 3,691,010 637,41227 9,671
Total liabilities 485,325,941 348,684,44328 266,260,597
Share capital 18,302,638 18,302,638 18,302,638
Share premium 64,745 64,745 64,745
Revaluation reserve 9,840,942 2,764,016 2,764,016
Fair value reserve 5,154,733 1,489,465 (1,107,650)
Contingency reserve29 18,170,219 14,564,278 11,755,475
Retained earnings 46,488,305 30,042,45430 19,695,800
Shareholders' funds 98,021,582 67,227,59631 51,475,024
Non-controlling interests 671,166 577,54032 463,813
Total equity 98,692,748 67,805,13533 51,938,837
Total liabilities and equity 584,018,689 416,489,57819 318,199,434
Impairment allowance (unlabelled line, note 2)34 Not yet collected from the source35 Not yet collected from the source3736 (5,880)
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
Notes and alternative reported figures (36)
  1. Annual report dated 2025-03-31 prints 35,160,650 (thousands, p76) for this line and year.
  2. Printed under different labels across filings: “- Debt instruments at amortised cost”; “Financial assets at amortised cost”.
  3. Annual report dated 2025-03-31 prints 143,853,508 (thousands, p76) for this line and year.
  4. Printed under different labels across filings: “- Fair value through other comprehesive income”; “Fair value through other comprehesive income”.
  5. Printed under different labels across filings: “- Fair value through profit or loss”; “Fair value through profit or loss”.
  6. “Loans and advances” is an issuer-specific line, not mapped to a shared definition: Note 4: loans of the group (policy and other loans).
  7. “Trade receivables”: mapping to a shared definition is uncertain. Trade receivables (premium debtors, note 5); other receivables are printed separately.
  8. Printed under different labels across filings: “Trade Receivables”; “Trade receivables”.
  9. Annual report dated 2025-03-31 prints 1,424,562 (thousands, p76) for this line and year.
  10. “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 7.
  11. Annual report dated 2025-03-31 prints 4,298,104 (thousands, p76) for this line and year.
  12. Annual report dated 2025-03-31 prints 122,472 (thousands, p76) for this line and year.
  13. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 10; nil in the Group columns.
  14. Annual report dated 2025-03-31 prints 9,206,296 (thousands, p76) for this line and year.
  15. “Statutory deposits” is an issuer-specific line, not mapped to a shared definition: Note 14: deposit with the Central Bank of Nigeria under the Insurance Act.
  16. “Goodwill and other intangible assets”: mapping to a shared definition is uncertain. Goodwill and other intangible assets printed as one line.
  17. Annual report dated 2025-03-31 prints 1,856,526 (thousands, p76) for this line and year.
  18. Annual report dated 2025-03-31 prints 416,381,727 (thousands, p76) for this line and year.
  19. Annual report dated 2025-03-31 prints 261,970,562 (thousands, p76) for this line and year.
  20. “Other technical liabilities” is an issuer-specific line, not mapped to a shared definition: Note 16(b).
  21. “Trade payables”: mapping to a shared definition is uncertain. Trade payables (note 16(a)); other payables and accruals are printed separately.
  22. “Other payables and accruals” is an issuer-specific line, not mapped to a shared definition: Note 17(a).
  23. Annual report dated 2025-03-31 prints 15,379,337 (thousands, p76) for this line and year.
  24. “Fixed income liabilities” is an issuer-specific line, not mapped to a shared definition: Note 17(b): liabilities of the group's fixed-income (asset management) products.
  25. Annual report dated 2025-03-31 prints 806,126 (thousands, p76) for this line and year.
  26. Annual report dated 2025-03-31 prints 638,051 (thousands, p76) for this line and year.
  27. Annual report dated 2025-03-31 prints 348,669,461 (thousands, p76) for this line and year.
  28. “Contingency reserve” is an issuer-specific line, not mapped to a shared definition: Note 18(e): statutory insurance contingency reserve.
  29. Annual report dated 2025-03-31 prints 29,972,822 (thousands, p76) for this line and year.
  30. Annual report dated 2025-03-31 prints 67,157,963 (thousands, p76) for this line and year.
  31. Annual report dated 2025-03-31 prints 554,303 (thousands, p76) for this line and year.
  32. Annual report dated 2025-03-31 prints 67,712,266 (thousands, p76) for this line and year.
  33. “Impairment allowance (unlabelled line, note 2)” is an issuer-specific line, not mapped to a shared definition: Note 2: unlabelled line between gross cash and cash net of the allowance; used for the cash definition only.
  34. Not yet collected from the source: Printed but not readable by the tools: the statement of financial position (p77) shows only net 'Cash and cash equivalents'; note 2 (p87) prints the line 'Allowance for impairment on short term deposits' with Group 2025 (58,405) (Group Dec-25 (58,405), Dec-24 (33,815)), read on the page image. The text layer drops the label and holds only '(58,405) (33,815) (51,345) (25,344)', so a printed_figure cannot be re-found after its label. Controller to transcribe from the image (same note line the FY2024 report supplied as the unlabelled 'Impairment allowance', p86 of that document).
  35. Annual report dated 2025-03-31 presents this line for this year: (33,815) (p86). Not shown in this column, which follows one filing's presentation.
  36. Not yet collected from the source: Printed but not readable by the tools: the statement of financial position (p77) shows only net 'Cash and cash equivalents'; note 2 (p87) prints the line 'Allowance for impairment on short term deposits' with Group 2024 (33,815) (Group Dec-25 (58,405), Dec-24 (33,815)), read on the page image. The text layer drops the label and holds only '(58,405) (33,815) (51,345) (25,344)', so a printed_figure cannot be re-found after its label. Controller to transcribe from the image (same note line the FY2024 report supplied as the unlabelled 'Impairment allowance', p86 of that document).

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Premiums received for insurance contracts1 182,795,780 156,190,406 107,317,368
Reinsurance premium paid during the year2 (42,671,105) (42,377,271) (21,962,187)
Acquisition cashflows received3 4,570,153 4,817,995 2,884,136
Acquisition cashflows paid4 (29,201,101) (22,206,678) (14,219,501)
Claims and other insurance service expenses paid5 (95,837,873) (90,591,765)6 (68,421,379)
Claims and other benefits received7 6,174,647 10,358,445 3,590,708
Cash flows on premium paid in advance and unallocated premium8 6,977,706 8,470,254 2,354,615
Minimum deposit on premium paid9 (69,519) (57,877) (59,099)
Receipt from deposit administration10 64,531 53,145 24,558
Receipt from other investment contract11 432,405 798,045 –12
Withdrawal from deposit administration13 (3,184) (21,236) (25,923)
Withdrawal from other investment contract14 (106,809) (94,810) –12
Cash flows on non-attributable expenses15 (1,598,346) (1,018,846)16 (725,075)
Other cashflow receipts/(payments)1718 2,049,441 8,941,10119 2,637,629
Additions into fixed income liabilities20 76,011,029 61,620,516 32,509,488
Liquidations/maturities from fixed income liabilities21 (36,808,578) (44,901,118) (28,662,833)
Interest paid22 (8,668,582) (3,762,545) (3,501,752)
Income tax paid (623,398) (435,311)23 (328,439)
Net cash flows from operating activities 63,487,195 45,782,45024 13,412,314
Interest income received 45,963,572 29,924,625 22,659,338
Interest income received on deposit administration2526 220,452 112,853 82,660
Dividend income received27 739,248 385,742 175,681
Rental income28 219,111 123,767 101,968
Purchase of property and equipment (1,770,348) (1,776,522) (820,661)
Prepaid lease payments29 119,228 82,383 190,950
Purchase of intangible asset (2,141,934) (436,172) (621,319)
Proceeds from sale of property and equipment 37,895 12,120 83,256
Proceeds from sale of investment property30 1,132,812 70,000 239,000
Loans and advances31 1,354,744 79,815 –32
Purchase of financial assets at amortized cost33 (82,115,364) (46,380,153)34 (44,529,835)
Purchase of financial assets at FVTOCI35 (11,638,905) (9,931,825)36 (9,244,951)
Purchase of financial assets at FVTPL37 (58,465,561) (48,205,442) (32,880,153)
Proceed on disposal/redemption of financial assets3839 81,126,572 41,452,296 52,608,713
Proceeds from maturities4041 4,810,566 4,377,630 –32
Net cash flows used in investing activities (20,407,913) (30,108,883)42 (11,955,352)
Dividend paid to equity holders43 (2,562,370) (1,830,264) (1,098,158)
Net cash flows used in financing activities (2,562,370) (1,830,264) (1,098,158)
Net increase in cash and cash equivalents44 40,516,913 13,843,30445 358,803
Cash and cash equivalents at 1 January 35,195,357 18,423,224 15,915,376
Net foreign exchange difference46 (1,275,156) 2,928,829 2,154,925
Cash and cash equivalents as at 31 December 74,437,114 35,195,35747 18,429,104
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (45)
  1. “Premiums received for insurance contracts” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 28(a)).
  2. “Reinsurance premium paid during the year” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 6(a)).
  3. “Acquisition cashflows received” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 6(a)).
  4. “Acquisition cashflows paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 15(b)i).
  5. “Claims and other insurance service expenses paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 28(i)).
  6. Annual report dated 2025-03-31 prints (90,593,373) (thousands, p80) for this line and year.
  7. “Claims and other benefits received” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 6(a)); reinsurance recoveries.
  8. “Cash flows on premium paid in advance and unallocated premium” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 16(b)).
  9. “Minimum deposit on premium paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 7(ii)).
  10. “Receipt from deposit administration” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 15(e)(i)).
  11. “Receipt from other investment contract” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 15(e)(ii)).
  12. “Withdrawal from deposit administration” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 15(e)(i)).
  13. “Withdrawal from other investment contract” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 15(e)(ii)).
  14. “Cash flows on non-attributable expenses” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 28(d)).
  15. Annual report dated 2025-03-31 prints (1,020,200) (thousands, p80) for this line and year.
  16. “Other cashflow receipts/(payments)” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  17. Printed under different labels across filings: “Other cashflow receipts”; “Other cashflow receipts/(payments)”.
  18. Annual report dated 2025-03-31 prints 8,743,541 (thousands, p80) for this line and year.
  19. “Additions into fixed income liabilities” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 17(b)).
  20. “Liquidations/maturities from fixed income liabilities” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 17(b)).
  21. “Interest paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 17(b)): interest on fixed income liabilities.
  22. Annual report dated 2025-03-31 prints (436,021) (thousands, p80) for this line and year.
  23. Annual report dated 2025-03-31 prints 45,581,219 (thousands, p80) for this line and year.
  24. “Interest income received on deposit administration” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 28(e)).
  25. Printed under different labels across filings: “Interest income received on deposit administration”; “Interest received on Deposit Administration”.
  26. “Dividend income received” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 20(a)).
  27. “Rental income” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 25(a)).
  28. “Prepaid lease payments” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 8); printed as positive amounts.
  29. “Proceeds from sale of investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 11(b)).
  30. “Loans and advances” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 4a)).
  31. “Purchase of financial assets at amortized cost” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 3(a)(iii)).
  32. Annual report dated 2025-03-31 prints (46,179,814) (thousands, p80) for this line and year.
  33. “Purchase of financial assets at FVTOCI” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 3(b)(ii)).
  34. Annual report dated 2025-03-31 prints (9,931,826) (thousands, p80) for this line and year.
  35. “Purchase of financial assets at FVTPL” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 3(c)(i)).
  36. “Proceed on disposal/redemption of financial assets” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 28(c)).
  37. Printed under different labels across filings: “Proceed on disposal of financial assets”; “Proceed on disposal/redemption of financial assets”.
  38. “Proceeds from maturities” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 3(d)).
  39. Printed under different labels across filings: “Maturities on financial assets”; “Proceeds from maturities”.
  40. Annual report dated 2025-03-31 prints (29,908,543) (thousands, p80) for this line and year.
  41. Printed under different labels across filings: “Dividend paid to equity holders”; “Dividends paid to equity holders”.
  42. Printed under different labels across filings: “Net increase / (decrease) in cash and cash equivalents”; “Net increase in cash and cash equivalents”.
  43. Annual report dated 2025-03-31 prints 13,842,412 (thousands, p80) for this line and year.
  44. Printed under different labels across filings: “Net foreign exchange difference”; “Net foreign exchange difference on cash held”.
  45. Annual report dated 2025-03-31 prints 35,194,465 (thousands, p80) for this line and year.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)5 0.621 0.4223 0.334
Profit / (loss) attributable to shareholders (NGN thousands)7 22,583,199 15,194,7116 12,082,018
  1. Printed as 62 kobo; value converted to NGN at 100 kobo = 1 NGN.
  2. Printed as 42 kobo; value converted to NGN at 100 kobo = 1 NGN.
  3. Printed as 33 kobo; value converted to NGN at 100 kobo = 1 NGN.
Notes and alternative reported figures (4)
  1. Annual report dated 2025-03-31 prints 41 (units, p77) for this line and year.
  2. Earnings / (loss) per share: printed as “Basic and diluted earnings per share (kobo)”.
  3. Annual report dated 2025-03-31 prints 15,125,968 (thousands, p77) for this line and year.
  4. Profit / (loss) attributable to shareholders: printed as “Attributable to owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid to equity holders (2,562,370) NGN thousands Annual report, p81
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid to equity holders (1,830,264) NGN thousands Annual report, p81
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid to equity holders (1,098,158) NGN thousands Annual report, p80

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • AIICO Insurance Plc Annual Report for the year ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Ernst & Young (Lagos), unmodified opinion · signed

    Auditor's sign-off: Babayomi Ajijola (FRC/2013/PRO/ICAN/004/00000001196), for Ernst & Young

    Final status: Independent auditor's report to the members of AIICO Insurance Plc (opinion PDF p29) signed (handwritten) by Babayomi Ajijola (FRC/2013/PRO/ICAN/004/00000001196) for Ernst & Young, Lagos, dated 31 March 2026, with the ICAN seal (PDF p35, page image). Statements approved by the board on 5 March 2026 and signed (handwritten) by the chairman and the managing director/CEO, and additionally by the chief financial officer (PDF p77, page image).

    Document date
    31 Mar 2026
    Auditor's report
    31 Mar 2026
    Board approval
    5 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “In thousands of naira”)
    • Cash and cash equivalents at 31 December in the statement of cash flows (74,437,114; 2024: 35,195,357, p81) are before the impairment allowance on cash (58,405; 2024: 33,815; note 2, p87); the statement of financial position prints 74,378,708 (2024: 35,161,542, p77).
    • The statement of financial position is unclassified (no current/non-current subtotals) (p77). The statement of cash flows uses the direct method (p81).
    • Earnings per share printed in kobo, basic and diluted on one line (62; 2024: 42, p78), is stored in naira (÷100) with the printed figure and unit kept.
    Technical details
    File
    187 pages, with a text layer
    SHA-256
    100c328a9f3c7f942e8fbd11e4d12b9cbbaf91df0b255de0dda7c725788059a5
    Entity as printed
    AIICO Insurance Plc (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T18:00:32Z

  • AIICO Insurance Plc Annual Report for the year ended 31 December 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: Ernst & Young (Lagos), unmodified opinion · signed

    Auditor's sign-off: Babayomi Ajijola (FRC/2013/PRO/ICAN/004/00000001196), for Ernst & Young

    Final status: Independent auditor's report to the members of AIICO Insurance Plc (opinion PDF p31) signed (handwritten) by Babayomi Ajijola (FRC/2013/PRO/ICAN/004/00000001196) for Ernst & Young, Lagos, dated 31 March 2025, with the ICAN seal (PDF p37, page image). Statements approved by the board on 12 March 2025 and signed (handwritten) by the chairman (Kundan Sainani) and the managing director/CEO (Babatunde Fajemirokun), and additionally by the chief financial officer (Bisola Elias) (PDF p76, page image).

    Document date
    31 Mar 2025
    Auditor's report
    31 Mar 2025
    Board approval
    12 Mar 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · NGN thousands (printed “In thousands of naira”)
    • Cash and cash equivalents at 1 January 2024 are printed 18,423,224 (the balance-sheet amount net of the impairment allowance, p80) while the 2023 closing cash in the same statement is 18,429,104 (before the allowance, note 2(c)); the 2024 column adds up from the net opening amount. Kept as printed (checked on the render).
    • Cash and cash equivalents at 31 December in the statement of cash flows (35,194,465; 2023: 18,429,104, p80) are before the impairment allowance on cash ((33,815); 2023: (5,880), note 2, p86); the statement of financial position prints 35,160,650 (2023: 18,423,224, p76).
    • Income tax is printed as 'Minimum tax' and 'Income tax expense' with no total (p77).
    • The FY2025 annual report presents the 31 December 2024 comparatives differently (e.g. total assets 416,489,578 there against 416,381,727 here); figures here are as printed in the FY2024 report.
    • The statement of financial position is unclassified (no current/non-current subtotals) (p76). The statement of cash flows uses the direct method (p80); in its text layer five row labels ('Claims and other insurance service expenses paid', 'Cash flows on premium paid in advance and unallocated premium', 'Net cash flows from operating activities', 'Cash and cash equivalents at 1 January', 'Cash and cash equivalents as at 31 December') are placed at the end of the page, after the amounts; the render shows them on their rows.
    • Earnings per share printed in kobo, basic and diluted on one line (41; 2023: 33, p77).
    Technical details
    File
    199 pages, with a text layer
    SHA-256
    edbb0bb44b204724c8ef2ea532ac7afeb234a4de97ad324a871bb3f1447adf14
    Entity as printed
    AIICO Insurance Plc (the Company) and its subsidiaries (together the Group)
    Exchange copy
    retrieved 2026-10-08T18:06:41Z

Data notes

  • Investment income from effective interest — OCR read '60483,246'; the page image shows '60,483,246'. OCR misreading of the figure; corrected from the page render. (AIICO Insurance Plc Annual Report for the year ended 31 December 2025, p78)
  • Investment income from effective interest — OCR read '41.070,645'; the page image shows '41,070,645'. OCR misreading of the figure; corrected from the page render. (AIICO Insurance Plc Annual Report for the year ended 31 December 2025, p78)

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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