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AIICO Insurance Plc is considering allocating a larger portion of its profits to dividend payouts.
The company's Managing Director/CEO, Mr. Babatunde Fajemirokun, stated this at the firm's 54th annual general meeting, assuring shareholders of high value and better returns on investment in the years ahead.
Meanwhile, the AIICO Chairman, Mr. Kundan Sainani, reported significant gains for the company in 2023, with a gross written premium of N110.1bn and insurance revenue of N72.6bn, reflecting the company's commitment to transparency and robust financial practices.
Despite economic challenges, AIICO's profits increased by 132.6% to N12bn, demonstrating the firm's resilience and adaptability.
Referencing the dynamics in the economy and projecting into the future, Sainani declared that AIICO remained resilient and adaptable, ready to provide more favourable terms to its valued customers and strategically invest in opportunities that yield advantageous returns.
Some shareholders at the AGM commended the board and management of AIICO for strengthening the company’s fundamentals and growing its asset base.
AIICO Insurance, founded in 1963, provides life & general insurance, health insurance, and investment management services.
