According to its half year result released to the market on Thursday 26th July, 2018, the management of AIICO says its gross sales for the first six months of 2018 improved by 10.5% to about N8.5billion when compared with N7.7billion recorded same period last year.
AIICO Insurance one of the leading insurance carriers and broker in Nigeria, deals in provision of insurance services to both individuals and corporate bodies ended the first half of the year 2018 with a net profit of N943million in contrast to the N441million recorded same period last year. This translates to a massive growth of about 113% year on year bottom-line growth.
The company’s shareholders’ earnings per share added 8kobo according to the report for the half year ended 30th June, 2018, to stand at 14kobo, which is 113% improvement on the previous reported 6kobo earnings per share of the last same period.
Its PE Ratio is at 4.9x at a reference price of N0.68 with an earnings yield of 20%.