Not compliant
AIICO Insurance does not pass Shariah screening under the AAOIFI Standard.
NGX: AIICO · Financial services · Screened 12 Aug 2026
AIICO Insurance Plc is one of Nigeria's largest insurers, second by gross premiums, serving corporations, financial institutions, governments and individuals. The group operates through four primary segments: Life Insurance, General Insurance, Health Management and Asset Management. The life business offers savings, protection and long-term contracts including annuity and endowment products, and is the primary driver of group profitability, with revenue growing 34.1% to N69.6 billion in FY2025. The general segment covers motor, marine, fire and casualty insurance protecting individual and business assets, recording a positive insurance service result of N3.7 billion in FY2025. Beyond insurance, the group operates AIICO Multishield Limited, a health maintenance organisation, and AIICO Capital Limited, which provides wealth management, portfolio services and investment banking. The company also offers pension management.
For the full year ended 31 December 2025, gross premiums written rose 20.2% to N191.7 billion, with N95.8 billion paid in claims. Normalized profit after tax rose 195.4% to N23.7 billion, driven by a 45.9% increase in net investment income to N61.2 billion. The insurance service margin improved significantly to 9.1% from a negative position in 2024. The board proposed a dividend of 12 kobo per share for FY2025.
Four segments: Life Insurance, General Insurance, Health Management and Asset Management, with life the largest profit contributor.
No. As of 12 August 2026, AIICO Insurance (AIICO) does not pass Shariah screening under the AAOIFI Standard.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.