About AIICO Insurance
AIICO Insurance is a company based in Lagos (Nigeria) founded in 1963.. AIICO Insurance has raised $20 million across 1 funding round from investors including International Finance Corporation. AIICO Insurance operates in a competitive market with competitors including Leadway Assurance, Blue KC, Prudential, Beazley and AXA Mansard, among others.
- Headquarter Lagos, Nigeria
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$20 M (USD)
in 1 rounds
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Latest Funding Round
$20 M (USD), Series B
Jun 30, 2015
- Investors
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Employee Count
Employee Count
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Funding Insights of AIICO Insurance
AIICO Insurance has successfully raised a total of $20M through 1 strategic funding round. The most recent funding activity was a Series B round of $20 million completed in June 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $20.0M
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First Round
First Round
(30 Jun 2015)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2015 | Amount | Series B - AIICO Insurance | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in AIICO Insurance
AIICO Insurance has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include International Finance Corporation. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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IFC is focused on private sector development in emerging markets.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by AIICO Insurance
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - AIICO Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Aiico Insurance Comparisons
Competitors of AIICO Insurance
AIICO Insurance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Leadway Assurance, Blue KC, Prudential, Beazley and AXA Mansard, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Insurance services are provided by Leadway Assurance in Nigeria.
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| domain | founded_year | HQ Location |
Provides health insurance plans for individuals, families, employers, and Medicare recipients.
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| domain | founded_year | HQ Location |
Financial services for pensions and investments are provided by Prudential.
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| domain | founded_year | HQ Location |
Specialist insurance and reinsurance are underwritten for clients worldwide.
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| domain | founded_year | HQ Location |
Health, life, motor, travel, and other insurance services are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Aiico Insurance
Frequently Asked Questions about AIICO Insurance
When was AIICO Insurance founded?
AIICO Insurance was founded in 1963 and raised its 1st funding round 52 years after it was founded.
Where is AIICO Insurance located?
AIICO Insurance is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is AIICO Insurance a funded company?
AIICO Insurance is a funded company, having raised a total of $20M across 1 funding round to date. The company's 1st funding round was a Series B of $20M, raised on Jun 30, 2015.
What does AIICO Insurance do?
Founded in 1963, AIICO Insurance is based in Lagos, Nigeria, where operations center on the insurance sector. Life and general insurance products are offered to individuals and businesses nationwide. Coverage includes risk management solutions adapted to local needs. The organization is headed by Chief Executive David Sobanjo, with activities regulated under Nigerian financial guidelines.
Who are the top competitors of AIICO Insurance?
AIICO Insurance's top competitors include Leadway Assurance, Beazley and Prudential.
Who are AIICO Insurance's investors?
AIICO Insurance has 1 investor. Key investors include International Finance Corporation.