AIICO Insurance’s Q1 profit falls to N1.51bn

AIICO Insurance Plc has reported a profit after tax of N1.51 billion for the quarter ended Mar. 31, 2021, down from N1.85 billion in the same period of 2020.

The company’s profit before tax rose by 11 percent to N1.58 billion in Q1 2021 from N1.42 billion in the same period last year.

Its gross premium written increased to N19.69 billion from N17.55 billion while its gross premium income grew to N17.35 billion from N15.19 billion, according to AIICO’s unaudited financial statements.