AIICO Insurance Plc has declared a significant revenue leap for the 2025 financial year, with its insurance revenue rising to ₦136.7 billion. According to the company’s full-year performance highlights released on February 4, 2026, this represents a robust growth compared to the ₦108.3 billion recorded in 2024.
The performance was anchored by a strong showing in its life and non-life segments, alongside a massive 54% surge in investment income, which provided a critical buffer against the broader macroeconomic challenges and rising operational expenses within the Nigerian insurance industry.
A key driver of this 2025 success was the company’s transition to a more sustainable, margin-driven business model under the IFRS 17 reporting standard. Managing Director Mr. Babatunde Fajemirokun noted that the firm shifted its focus toward “sustainable quality growth,” successfully increasing insurance service margins from a negative position in 2024 to approximately 11.3% by the end of 2025.
This turnaround in underwriting performance allowed AIICO to deliver a profit before tax of over ₦20.6 billion, even as it navigated a volatile foreign exchange environment that had previously skewed earnings with one-off gains.
The insurer’s investment portfolio played a pivotal role in the 2025 result, leveraging high-interest rates on fixed-income securities and bond holdings to generate ₦51.8 billion in income. This investment-led strategy helped offset a heavy ₦56.8 billion in finance expenses from insurance contracts.
Looking ahead to 2026, AIICO plans to deepen its digital transformation and expand its retail health and annuity solutions, aiming to maintain its solvency position as the industry prepares for the new capital requirements mandated by the Nigerian Insurance Industry Reform Act.
