AIICO INSURANCE PLC. (AIICO)

AIICO INSURANCE PLC Meeting date for 2022

January 5, 2022 Lagos NOTICE OF BOARD MEETING OF AIICO INSURANCE PLC NOTICE IS HEREBY GIVEN that the Board of AIICO Insurance Plc, (the Company) will meet on January 20, 2022 to review and approve the draft unaudited financials for the period ended December 31, 2021 (2021 Q4 UFS). Any decision reached as it affects the approval of the accounts will immediately be communicated to the Nigeria Exchange Limited. In compliance with the provisions of Rule 17.18(a): Closed Period, Rulebook of the Exchange, 2015 (Issuers’ Rule) as amended, the Company commenced a Closed Period from Saturday, 1 January 2022. The Closed Period will continue until twenty-four (24) hours after the release of both the company’s 2021 Q4 UFS and 2021 Audited Financial Statements for the year ended December 31, 2021. During the closed period, no director, person discharging managerial responsibilities, advisers of the Company, and other insiders or their connected persons shall deal in the securities of the Company.

Aiico insurance its first-quarter result, reporting an increase in profit to 206 percent which rose significantly from N1.545 billion in 2021 to N4.734 billion in 2022.

From the released statement on the Nigerian Exchange Limited (NGX) platform, profit before tax recorded revealed a decline of 14 percent from N1.58 billion in 2021 to N1.356 billion in 2022.

Also, the group declared a profit after tax which declined by 11 percent to N1.506 billion in the corresponding period of 2021 to N1.345 billion in the previous period of 2022.



However, the gross premium declared appreciated a 25 percent from N19.690 in 2021 to N24.7 billion in 2022.

During the period, the group passed through total expenses of N12.638 billion in the corresponding period of 2021 to N17.89 billion in the previous period of 2022, the expenses passed through increased by 41 percent.

Earnings per share recorded for the period grew by 30 percent from 13kobo in 2021 to 10 lobo in 2022.

As net premium moved higher by 17 percent N14.185 billion in 2021 to NN16.87 billion in 2022.

ln the result released, Aiico insurance recorded strong total assets as growth total equity total assets moved strong.

The group recorded a gain of total assets from 1o percent to N244.5 billion in 2022 to N222.4 billion in 2021 result and accounts for the period ended 31 March 2022.

Meanwhile, total equity grew by 14 percent from N38.37 billion in 2021 to N 43.58 billion in 2022.

Shareholder funds recorded by the group showed a significant increase of 13 percent from N38.028 billion in 2021 to N 43.1 billion in 2022.

In addition, the group's total liabilities increase by 9 percent to N200.9 billion in 2022 from N184 billion in 2022.
[4:51 AM, 5/5/2022] +234 701 183 2778: foreign investors have renewed their interest in stocks on the bourse with strong fundamentals.

Speaking also, an analyst at PAC Holdings, Mr. Wole Adeyeye, said: “There is some foreign investors’ interest in some multinational companies like Guinness Nigeria Plc that has hits N100 per share. So, some investors that could not buy Guinness Nigeria are moving to Nigerian Breweries, among other stocks on the NGX.”

He added that: “Foreign and local investors are taking advantage of undervalued stocks and the first-quarter corporate earnings are fundamentals driving investors to buy interest on the NGX.”