Frequently Asked Questions

Frequently Asked Questions

AIICO Events and Update

AIICO Records 24 Percent growth in PBT, Declares 6kobo dividend 

LAGOS, NIGERIA –  APRIL 30, 2012 – AIICO Insurance Plc, one of the foremost Insurance Companies and the largest 
risk management services provider in Nigeria said on Monday (April 30, 2012) that it has recorded a 24% percent
 growth in its gross premium income (GPI) and profit before tax (PBT) for the financial year ended December 2011.


The Group Managing Director – Mr. David Sobanjo in a released statement put the Gross Premium Income recorded
 for the year ended 2011 at N18.44billion indicating an increase of N3.49billion on the performance for the year ended
 Dec. 2010. In the same vein, the GMD stated that Net Premium Earned rose by 19% to N15.62bn whilst retained 
profit grew by 30%.

Commenting on the overall performance of the company, the Group Managing Director Mr. David Sobanjo, said 
“AIICO Insurance Plc is well positioned for continued profitable growth. We are quite pleased with our overall 
performance in 2011 despite the prevalent economic challenges – “clearly our unflinching efforts at improving 
our overall operation and service delivery have remained the reason our consumers and clients consistently 
rely on us”.

Also, speaking on the company’s outlook, he added that the company is looking forward to another good year
 and enthusiastic about the growth opportunities that lie ahead. “We are confident we will exceed our 2011 
performance figures this year.

Following the impressive results, a dividend of 6 kobo per share representing a 300% increase over what was 
paid in 2010 has been recommended whilst the AGM is  scheduled to hold in June 2012. 

AIICO Records 24 Percent growth in PBT, Declares 6kobo dividend 

LAGOS, NIGERIA –  APRIL 30, 2012 – AIICO Insurance Plc, one of the foremost Insurance Companies and the largest risk 
management services provider in Nigeria said on Monday (April 30, 2012) that it has recorded a 24% percent growth in 
its gross premium income (GPI) and profit before tax (PBT) for the financial year ended December 2011.

The Group Managing Director – Mr. David Sobanjo in a released statement put the Gross Premium Income recorded
 for the year ended 2011 at N18.44billion indicating an increase of N3.49billion on the performance for the year ended
 Dec. 2010. In the same vein, the GMD stated that Net Premium Earned rose by 19% to N15.62bn whilst retained
 profit grew by 30%.

Commenting on the overall performance of the company, the Group Managing Director Mr. David Sobanjo, said 
“AIICO Insurance Plc is well positioned for continued profitable growth. We are quite pleased with our overall 
performance in 2011 despite the prevalent economic challenges – “clearly our unflinching efforts at improving our
 overall operation and service delivery have remained the reason our consumers and clients consistently rely on us”.

Also, speaking on the company’s outlook, he added that the company is looking forward to another good year and 
enthusiastic about the growth opportunities that lie ahead. “We are confident we will exceed our 2011 performance 
figures this year.

Following the impressive results, a dividend of 6 kobo per share representing a 300% increase over what was paid in 
2010 has been recommended whilst the AGM is  scheduled to hold in June 2012. 

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Frequently Asked Questions

Where are AIICO's shares listed?

  • AIICO’s shares are listed or admitted to trading on the Nigerian Stock Exchange under the symbol "AIICO".

What options do I have to receive dividend payments?

  • Dividend payments can be effected through the e-Dividend payment system. The e-Dividend payment system ensures that your dividend is credited directly into the bank account of your choice within 24 hours of the payment date. All Registrars have been mandated to effect payment of dividend on behalf of their client companies electronically. Click here to register for e-dividend payment

Who do I contact if I have an enquiry relating to my shareholding, for example, transfers of shares, change of name address, or lost share certificates or dividend cheques?

  • United Securities Limited 10, Amodu Ojikutu Street, Off Bishop Oluwole Street, Victoria Island, Lagos

AIICO's Financial Reporting

  • AIICO’s financial year starts from January 01 of each year and ends on 31 December of the same year.

What is the basis of preparation of AIICO’s financial statements?

      • The account of AIICO is prepared in accordance with International Financial Reporting Standards (IFRS). Annual Report – click here to view and download on financial statement. Auditors – we are audited by SIAO

 

Financial Performance @ a Glance.
  2008 N'000 2009 N'000 2010 N'000
Gross Premium Income 3,893,108 8,799,198 14,952,247
Net Premium Earned 3,345,333 8,198,817 13,131,863
Underwriting Profit 2,053,010 2,024,277 3,280,620
Investment  Income 1,632,534 1,595,526 825,936
Management Expenses 1,433,542 1,758,747 1,700,204
Profit Before Taxation 1,572,831 837527 1,230,252
Earnings Per Share (basic) 9 14.24 12.7
Dividend Per Share 0.00k 0.00k 0.0k

end faq