AXA Mansard’s Insurance Revenue Climbs 22% to ₦160.6bn Amid Profit Dip
AXA Mansard Insurance Plc grew insurance revenue by 22% to ₦160.6bn for the year ended December 2025. This came amid a sharp drop in Profit Before Tax to ₦6.1bn, driven by foreign exchange losses compared to prior-year FX gains. All core segments saw growth, with Property & Casualty up 11% to ₦68.5bn, Life & Savings up 14% to ₦25.8bn, and Health leading at 40% to ₦66.3bn. Gross Written Premiums rose 23% to ₦170.9bn thanks to stronger customer retention and network expansion. CFO Ngozi Ola-Israel noted that underlying profit would have grown 50% once non-recurring FX effects are excluded. CEO Kunle Ahmed said the group remains well above the new capital requirements and has opted to retain earnings rather than pay dividends. Analysts say AXA Mansard’s results reflect a wider insurance-sector trend as firms balance premium growth with cost pressures, regulatory changes and new reporting standards. The company plans to focus on underwriting discipline, operational efficiency and digital innovation to sustain momentum.
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