AIICO Insurance Declares N46.6bn as Gross Premium Written, Plunged PAT by 18.7% in Q3’20

The third quarter financial report of AIICO Insurance Plc for the period ended September 30th, 2020 reveals that the company grew its Gross Premium Written by 27.78% to close the period at N46.625 billion from the previous close of N36.488 billion in Q3, 2019.

The Profit after Tax (PAT) of the Insurance Company, plunged by 18.73% to arrive at N3.233 billion away from N3.978 billion recorded in Q3’19.

The company shed in its shareholders’ Earning Per Share (EPS) by over 18% from 29 kobo recorded in 2019 to 24 kobo in the current period under review.

At a reference price of N0.86, the PE Ratio of AIICO Insurance stood at 3.62x with earnings yield of 27.65%.

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