AIICO Insurance posts sevenfold jump in quarterly profit

AIICO Insurance Plc has reported a profit before tax of N10.08 billion for the first three months of this year, up from N1.44 billion in the same period of 2023.

Its gross written premium rose to N49.08b billion from N31.74 billion, according to its earnings report released on Friday.

The insurer made a net foreign exchange income of N7.74 billion compared with an expense of N436.71 million in the first quarter of last year.