AXA Mansard Insurance Company Increases Q3 Premium by 19%

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The third quarter that ended on September 30, 2022, saw a 19% increase in Gross Written Premium for AXA Mansard Insurance Plc, a subsidiary of the AXA Group and a world leader in asset management and insurance.

Ngozi Ola-Israel, the company’s chief financial officer, commented on the outcome: “2022 has been a challenging and dynamic year for the business occasioned by elevated levels of inflation and the consequent impact on businesses and households.

“Despite these difficulties, we managed to deliver double-digit revenue growth of 19% YoY from N48.8bn to N57. 9bn and 19% YoY net premium income growth from N27.1bn to N34.7bn at the end of the third quarter of 2016”.

“We advanced with our focus on profitability also with profits before tax for the insurance business growing by 6% YoY; while the Health business commenced recovery in the 3rd quarter and is positioned to record profits for the full year”.

Punch

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