AIICO Insurance Plc (NGX:AIICO)

AIICO Insurance Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	97,869	75,005	54,516	54,818	58,522	52,780
Total Interest & Dividend Income	70,229	55,528	46,525	33,576	13,852	11,767
Gain (Loss) on Sale of Investments	16,304	-8,994	-10,109	-6,781	-32,239	38,034
Other Revenue	-19,792	2,070	2,737	370.07	2,582	1,963
Total Revenue	164,609	123,609	93,670	81,983	42,716	104,544
Revenue Growth (YoY)	29.88%	31.96%	14.26%	91.92%	-59.14%	48.56%
Policy Benefits	64,217	57,493	39,315	54,761	20,180	83,240
Policy Acquisition & Underwriting Costs	22,131	17,519	11,006	-	7,518	6,347
Selling, General & Administrative	69.73	46.05	37.96	27.2	1,305	1,508
Provision for Bad Debts	-	-	-17.69	34.68	-27.34	-61.25
Other Operating Expenses	12,818	12,111	12,556	1,343	7,114	6,386
Total Operating Expenses	99,236	87,169	62,897	56,166	39,613	101,338
Operating Income	65,373	36,440	30,773	25,817	3,103	3,206
Interest Expense	-45,829	-32,551	-24,679	-22,454	-	-96.74
Earnings From Equity Investments	-	-	-	-	-34.9	-
Currency Exchange Gain (Loss)	-2,536	11,761	6,423	-676.22	-280.9	1,633
Other Non Operating Income (Expenses)	-285.3	-285.29	-189.84	-148.9	30.96	-97.99
EBT Excluding Unusual Items	16,723	15,365	12,327	2,538	2,818	4,643
Gain (Loss) on Sale of Assets	131.38	11.38	21.72	12.98	-59.35	2.58
Asset Writedown	440	440	177.5	147.55	48	-14
Pretax Income	17,294	15,817	12,526	2,698	2,807	4,632
Income Tax Expense	850.82	716.14	390.61	405.01	257.91	-348.26
Earnings From Continuing Ops.	16,444	15,100	12,136	2,293	2,549	4,980
Earnings From Discontinued Ops.	-	-	-	2,873	2,367	269.49
Net Income to Company	16,444	15,100	12,136	5,166	4,916	5,250
Minority Interest in Earnings	-23.07	25.48	-53.78	-112.1	-62.73	-188.71
Net Income	16,421	15,126	12,082	5,054	4,853	5,061
Preferred Dividends & Other Adjustments	74.03	25.48	-53.78	112.1	-	-
Net Income to Common	16,346	15,100	12,136	4,942	4,853	5,061
Net Income Growth	-11.80%	25.19%	139.06%	4.14%	-4.11%	-12.50%
Shares Outstanding (Basic)	36,605	36,605	36,605	36,605	36,605	36,605
Shares Outstanding (Diluted)	36,605	36,605	36,605	36,605	36,605	36,605
Shares Change (YoY)	-	-	-	-	-	67.68%
EPS (Basic)	0.45	0.41	0.33	0.14	0.13	0.14
EPS (Diluted)	0.44	0.41	0.33	0.14	0.13	0.14
EPS Growth	-12.90%	24.24%	144.44%	1.83%	-4.11%	-47.53%
Free Cash Flow	38,891	43,692	11,989	-4,598	-12,421	31,278
Free Cash Flow Per Share	1.06	1.19	0.33	-0.13	-0.34	0.85
Dividend Per Share	0.070	0.070	0.050	0.030	0.020	-
Dividend Growth	40.00%	40.00%	66.67%	50.00%	-	-
Operating Margin	39.71%	29.48%	32.85%	31.49%	7.27%	3.07%
Profit Margin	9.93%	12.22%	12.96%	6.03%	11.36%	4.84%
Free Cash Flow Margin	23.63%	35.35%	12.80%	-5.61%	-29.08%	29.92%
EBITDA	66,231	37,264	31,572	26,571	3,713	3,842
EBITDA Margin	40.23%	30.15%	33.70%	32.41%	8.69%	3.67%
D&A For EBITDA	857.76	824.34	798.56	753.11	610.05	636.26
EBIT	65,373	36,440	30,773	25,817	3,103	3,206
EBIT Margin	39.71%	29.48%	32.85%	31.49%	7.27%	3.07%
Effective Tax Rate	4.92%	4.53%	3.12%	15.01%	9.19%	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.