By Modupe Gbadeyanka
One of the leading insurance firms in Nigeria, AIICO Insurance Plc, has declared a profit of N10.2 billion for the year 2016.
In its 2016 full year financial statements, the company said a total of N27.1 billion was made as gross revenue compared with N32.9 billion it achieved in 2015.
It noted that its profit before tax as at December 31, 2016 stood at N11.8 billion in contrast to N1.8 billion as at December 31, 2015.
For the payment of tax during the year under review, the insurance firm paid N1.6 billion against N600 million paid a year before.
This left AIICO Insurance’s profit after tax at N10.2 billion in 2016 versus N1.2 billion it posted in 2015.
Adedapo Adesanya 
Dipo Olowookere