Aiico Insurance PLC
NNSENG:AIICO3.81
NGN
+0.01
(+0.26%)
Aiico Insurance PLC
NSENG:AIICO
(Nigerian Stock Exchange)
Recent
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3.81
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ROIC.AI
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- Business
- AIICO Insurance PLC is a composite insurance and financial services group based in Nigeria, providing a wide array of life assurance, general underwriting, health maintenance, pension, and wealth management solutions. The company operates through four core business segments: Life Assurance, General Insurance, Health Maintenance, and Asset Management. Its Life Assurance portfolio includes term life insurance; whole life policies; endowment plans; educational savings schemes; mortgage protection insurance; deferred and immediate annuities; and group life assurance for corporate institutions. The General Insurance segment provides underwriting coverage for private and commercial motor vehicles; fire and special perils; burglary and housebreaking; marine cargo and hull; aviation risks; engineering and construction; oil and gas energy assets; travel insurance; and commercial liability covers, including professional indemnity, directors and officers liability, public liability, and fidelity guarantee. Through its health maintenance subsidiary, AIICO Multishield Limited, the group delivers managed care plans, retail health policies, and corporate medical insurance schemes. Through its investment and wealth management subsidiary, AIICO Capital Limited, the organization provides portfolio management; collective investment schemes and mutual funds; liquidity management; and investment advisory services, supported by consumer and business lending through AIICO Capital Credit and Finance Limited. AIICO Insurance PLC serves retail individuals, small and medium-sized enterprises, multinational corporations, financial institutions, and public sector organizations across Nigeria through an extensive nationwide branch network, certified insurance broker networks, and digital sales platforms. In recent corporate developments, AIICO Insurance received a renewed composite operational license from the National Insurance Commission (NAICOM) in 2026 after demonstrating compliance with the statutory capital benchmarks mandated by the Nigerian Insurance Industry Reform Act (NIIRA) 2025 without requiring external equity injections. In late 2025, the company unveiled a modernized corporate brand identity aimed at accelerating digital transformation and deepening retail insurance penetration among younger demographics. Additionally, the group expanded its non-insurance financial offerings following the operational commencement of AIICO Capital Credit and Finance Limited and the restructuring of AIICO Capital to encompass investment banking capabilities, fully transitioned its reporting framework to IFRS 17 accounting standards, and broadened its digital distribution ecosystem through insurtech partnerships, including its collaboration with ETAP for app-based automobile coverage. Founded in 1963 as an agency of the American Life Insurance Company and incorporated as a Nigerian entity in 1970, AIICO Insurance PLC is headquartered in Victoria Island, Lagos, Nigeria.