EARNINGS FORECAST FOR THE 3 MONTHS ENDING 31 MARCH 2024
NOTES
Gross Written Premium projected for Q1 2024 is N37.1 billion.
The Non-Life business represents 36.6% of the stated GWP while the Ordinary Life, Group Life and Annuity businesses represent 37.1%, 12.8% and 13.5% respectively.
Investment income will be driven largely by our bond investments and our investment in other short term financial assets.
The following non cash transactions were included in the Statement of Profit or Loss and Other comprehensive income:
Depreciation of Non-current asset in line with the Group's policy
Amortization of intangible assets
Net fair value gain/loss on financial assets.
PERIOD: 3 MONTHS
FROM JANUARY 1, 2024
TO MARCH 31, 2024
Gross Written Premium
Insurance Revenue
Insurance Service Expense
Net Expenses from Reinsurance Contracts
Insurance Service result
Investment income
Profit from deposit administration
Net fair value (losses)/gains
Other operating income
Net investment income
Net Finance income/(expense) from Insurance Contracts Net Finance Income from Reinsurance Contracts
Net insurance finance income/(expenses)
Net insurance and investment result
Other Expenses
Profit before income tax from continuing operations
Income tax expense
Profit after tax from continuing operations
Profit from discontinued operations
Profit After Discontinued Operations
AIICO INSURANCE PLC- CASHFLOW FORECAST FOR THE 3 MONTHS ENDING 31 MARCH 2024
PERIOD: 3 MONTHS
FROM JANUARY 1, 2024
TO MARCH 31, 2024
Net cash flows from operating activities
Net cash flows from investing activities
Net cash flows from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents - Opening Included in the assets of the disposal group
Cash and cash equivalents - Closing
IFRS 17
Mar-24
N'000
37,068,141
19,931,290 -16,487,318 -2,758,992
684,980
6,812,784
125,184
6,937,968
-5,489,697
-5,489,697
2,133,251
-423,516
1,709,735
-68,488
1,641,248
1,641,248
Mar-24
N'000
9,529,588 -2,362,999
7,166,588
9,386,459
16,553,047
Babatunde Fajemirokun (MD)
Date: 10 December 2023
Bisola Elias (AG. CFO)
Date: 10 December 2023
"AIICO Insurance Plc has a dedicated investors' portal on its corporate website which can be accessed via this link: https://www.aiicoplc.com/index.php/about-us-
aiico/investorrelations. The Company's Investors' Relations Officer can also be reached through electronic mail at: ir@aiicoplc.com ; or telephone on: +234 (0)809 229 9108 for any investment related enquiry".
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Disclaimer
AIICO Insurance plc published this content on 08 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 December 2023 15:38:17 UTC.
AIICO Insurance Plc is the Nigerian leading life insurance group. Gross written premium breaks down by activity as follows:
- life insurance (74.3%). The group also develops pension insurace activity;
- non-life insurance (24.3%): primarily motor, home, commercial and damage insurances;
- health insurance (1.4%).
All gross written premium are in Nigeria.
AIICO INSURANCE PLC 
