AIICO Insurance reports N2.43bn as profit in Q3 2021

AIICO Insurance on Tuesday published its third quarter report for the period ended 30 September 2021.

The underwriting firm reported Gross premium written of N54.674 billion, up by 15.85% from N47.194 billion reported in Q3 2021.

Profit after tax declared for the nine months period was N2.43 billion, down by 55.13% from N5.41 billion reported the previous year.

Earnings per share (EPS) declined year on year by 55.13 to 12 kobo from the EPS of 26 kobo achieved the previous year.  

At the share price of 95 kobo, the PE ratio of AIICO Insurance stands at 8.10x with earnings yield of 12.35%.

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