AIICO Insurance Plc (NGX:AIICO)

AIICO Insurance Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	222,847	171,126	124,426	93,670	81,983	42,716
Revenue Growth	45.14%	37.53%	32.84%	14.26%	91.92%	-59.14%
Operating Income Operating Income Growth	88,955	65,641	37,268	30,773	25,817	3,103
Net Income Net Income Growth	21,277	17,680	15,192	12,136	4,942	4,853
Earnings Per Share EPS Growth	0.58	0.48	0.42	0.33	0.14	0.13
EPS Growth	28.56%	16.37%	25.77%	144.44%	1.83%	-4.11%

Revenue by Segment

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Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Life Business Life Business Growth	133,992	75,730	44,811	38,683	30,064
General Business General Business Growth	75,741	61,283	24,566	25,828	11,203
Health Management Services Health Management Services Growth	2,226	1,444	1,264	1,698	949.23
Asset Management Asset Management Growth	16,891	7,888	4,151	5,400	900.07
Elimination of Inter-Segment Transactions Elimination of Inter-Segment Transactions Growth	-957.13	-1,196	-709.42	-	-410.87
Total Total Growth	227,893	145,148	74,083	71,609	42,705

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	54,202	46,774	35,162	18,423	15,915	25,490
Total Debt Total Debt Growth	-	-	-	-	-	-
Net Cash (Debt) Net Cash Growth	54,202	46,774	35,162	18,423	15,915	25,490
Net Cash Growth	90.98%	33.03%	90.85%	15.76%	-37.56%	-20.13%
Net Cash Per Share Net Cash Per Share Growth	1.48	1.28	0.96	0.50	0.43	0.70

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	76,458	68,293	45,582	13,412	-3,188	-11,556
Capital Expenditures CapEx Growth	-4,303	-3,524	-1,889	-1,424	-1,410	-864.11
Free Cash Flow Free Cash Flow Growth	72,155	64,769	43,693	11,989	-4,598	-12,421
Free Cash Flow Growth	62.97%	48.24%	264.45%	-	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Margin	39.92%	38.36%	29.95%	32.85%	31.49%	7.27%
Pretax Margin	10.79%	11.62%	12.80%	13.37%	3.29%	6.57%
Profit Margin	9.55%	10.33%	12.21%	12.96%	6.03%	11.36%
FCF Margin	32.38%	37.85%	35.12%	12.80%	-5.61%	-29.08%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.070	-	0.070	0.050	0.030	0.020
Dividend Per Share Growth	71.43%	-	40.00%	66.67%	50.00%	-
Dividend Yield	1.85%	-	4.90%	6.25%	5.08%	2.86%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	6.52	7.85	3.45	2.41	4.37	5.28
Forward PE	-	6.10	6.10	6.10	6.10	6.10
P/FCF Ratio	1.92	2.14	1.20	2.44	-	-
PS Ratio	0.62	0.81	0.42	0.31	0.26	0.60

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 4, 2026

Data Sources Report a data error