AIICO Insurance profit drops to N4.98bn

AIICO Insurance Plc has reported a profit of N4.98 billion for the financial year 2020, down from N5.72 billion a year earlier.

The company’s profit before tax fell to N4.63 billion last year from N5.99 billion in 2019, according to its audited financial statements.

Its gross premium written increased by 24 percent to N61.98 billion from N50.14 billion.