Nigeria, drop in 2015 pretax profit for AIICO

AIICO Insurance, the second insurer in Nigeria, recorded a drop of its pretax profit by 45% in 2015.
This result reached 1.79 billion NGN (9 million USD) at the end of the past financial year against 3.28 billion NGN (18 million USD) in 2014.

The gross premiums decreased by 3% to settle at 32.9 billion NGN (121 million USD) at 31 December 2015.

The net income deteriorated sharply by 58% amounting to 6.75 billion NGN (34 million USD) in comparison with 2014. At the end of 2014, the AIICO Insurance market share was 17.8%.

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