AIICO Insurance Plc. continued its growth momentum in 2021FY as Gross Premium Written (GPW) advanced by 15.60% YoY to NGN71.65bn, regaining its position as the market leader across listed composite players in the insurance industry. The life business maintained its position as the major contributor (69.41% of total GPW) to premium growth advancing by 19.45% YoY to NGN49.73bn, while the non-life business also grew by 36.07% YoY to NGN19.05bn. The only outlier to top-line growth was the annuity business which was impacted by a regulatory development in the industry as noted in our 9M-2021 Earnings Update
