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1. Head Office:
AIICO
Plaza,
Plot PC 12 Afribank Street,
Victoria Island,
P.O. Box 2577,
Lagos.
Tel: 234-01-2612472, 2614669, 2617593, 2615395, 2610651,
4753360-3, 2792930-59, 0802-292-1804, 0802-292-1805.
Fax: 234-01-2617433.
Telex: 22395 AIICO NG.
Cable: “AMERLIFE”, Lagos.
E-mail: info@aiicoplc.com
Website: http://www.aiicoplc.com
2. Nature of Business:
Insurance/Financial Services
3. Date of Incorporation:
Collection Centre 1963
Private Limited Company 14th
July, 1970
4. Date Listed on The Exchange:
3rd December, 1990
5. NSE Classification:
Insurance
6. Board of Directors:
Chief (Dr.) O. Fajemirokun - (Chairman)
Mr. S. D. A. Sobanjo (MD/CEO)
Mr. Simeon O. Oyedokun
Mr. E. U. Egejuru
Prince
(Dr.) Omoregie Akenzua, JP
Chief Rasheed A. Gbadamosi, OFR
Dr. Rilwanu Lukman, KBE, CFR
Chief Eugene Okwor
Mr. Haresh Aswani
Senator Tokunbo Ogunbanjo
7. Company Secretary/Legal Adviser:
Mr. Simeon Olatunji Oyedokun
AIICO
Plaza,
Afribank
Street,
Victoria Island, Lagos.
8. Auditors:
Ernst and Young,
(Chartered Accountants)
Ebani House
62, Marina, Lagos.
Tel: 234-01-463-0479, 463-0480, 269-5294, 269-5367;
Fax: 234-01-269-5517, 463-0481
E-mail: services@ng.ey.com
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9. Company Registrars:
United Securities Limited,
UAC House, (5th Floor)
1/5 Odunlami
Street,
P. M.B. 12753, Lagos.
10. Subsidiaries/Associates:
AIICO Pension Funds Administrator (PFA)
TRW Stockbrokers Limited
Continental Re-Insurance Plc
Firstgas Distribution Services Limited
Globe Re-insurance
Profound Services Limited
First Securities Discount House
Food Concepts Limited
Nigeria Healthcare LImited
Nigeria
Oil & Energy Sector Fund
Nigeria
Liability Insurance Pool
AIICO General Insurance Company Ltd.
11. End of Accounting Year
31st December
12. Number of Employees
253
13. Capital Structure
i. Authorised: N5,000,000,000.00
ii. Paid-Up N1,873,756,502.50
14. Analysis of Shareholding
AIICO Bahamas Limited
- 22%
Others -
78%
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FIVE-YEAR FINANCIAL SUMMARY
2007 2006 2005 2004 2003
N‘000 N‘000 N‘000 N‘000 N‘000
ASSETS
Cash and bank balances 758,513 474,922 316,427 150,111 275,703
Short-term investments 1,898,589 2,259,037 1,523,325 2,037,130 2,266,223
Debtors and prepayments 1,292,853 588,815 959,319 686,262 1,309,112
Loan to policy holders 574,257 425,651 332,111 241,622 206,704
Long-term investments 3,910,520 1,754,758 4,474,866 4,975,351 2,996,257
Statutory deposit 500,000 35,000 35,000 35,000 13,500
Fixed Assets
1,986,789 2,982,081 3,088,640 1,541,446 1,468,990
Goodwill on Consolidation 1,166,609 - - - -
Deferred tax 811,295 183,891 - - -
————— ————— ————— ———— ———
TOTAL ASSETS 12,969,425 8,704,155 10,729,688 9,666,922 8,536,489
====== ====== ====== ====== =====
LIABILITIES:
Creditors and accruals 2,620,776 1,637,344 1,157,347 1,146,298 838,054
Outstanding claims 239,884 165,944 172,533 200,213 167,223
Taxation 323,895 51,008 6,253 3,931 22,451
Dividend 10,161 10,199 3,788 10,349 73,986
Insurance fund 1,935,813 1,500,358 1,354,269 1,086,927 926,084
Deposit admin/pension fund 1,527,919 (530,662) 3,765,427 4,256,344 3,856,426
---------- ---------- ---------- ---------- ----------
6,658,448 2,834,191 6,459,619 6,704,062 5,885,024
---------- ---------- ---------- ---------- ----------
TOTAL ASSETS LESS
LIABILITIES 6,310,977 5,869,964 4,270,071 2,962,860 2,651,465
======= ======= ======= ======= =======
CAPITAL AND RESERVES:
Called-up share capital 1,873,757 1,332,765 700,000 350,000 350,000
Contingency reserve 455,779 368.619 299,654 248,185 206,457
Fixed assets revaluation reserve 1,642,957 2,323,454 2,323,454 731,912 731,912
Quoted investment
revaluation reserve 1,543,332 427,337 661,180 1,011,974 773,098
Bonus issue reserve - 222,128 175,000 350,000 -
General reserve (905,766) 521,484 106,747 212,286 181,495
Share premium 1,700,918 674,177 4,036 58,503 408,503
---------- ------------ ----------- ----------- -----------
SHAREHOLDERS’ FUNDS 6,310,977 5,869,964 4,270,071 2,962,860 2,651,465
===== ====== ====== ====== ======
PREMIUM AND PROFITS:
Premium 4,657,776 3,030,487 2,931,822 2,356,794 1,723,200
Deposits - - - 1,301,025 1,216,641
(Loss)/Profit before taxation (186,816) 348,799 86,947 74,789 204,221
Profit after tax 304,709 483,702 81,810 72,519 183,221
Dividend per 50k share data - - - - 70,000
====== ====== ====== ====== =====
Per Share Data:
Loss/Earnings (5) 13k 6k 11k 29k
Adjusted (Loss)/Earnings (5) 9k 2k 2k 5k
Dividend - - - - 10k
Dividend cover (times) - - - - 2.9k
Bonus issue per share - 8.33k 12.50k 50k -
Net assets per share 168k 215k 305k 424k 379k
Total Assets per share 346k 320k 766k 1381k 1220k
NOTE:
Earnings, total assets per
share of N0.50 respectively are calculated based on the number of
shares issued.
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