AXA Mansard Insurance posts N57.9bn gross premium in Q3

AXA Mansard Insurance Plc, a member of the AXA Group, has recorded a 19 per cent growth in Gross Written Premium in the financial results for the third quarter that ended September 30, 2022.

Speaking on the result, the Chief Financial Officer of the company, Mrs Ngozi Ola-Israel said:  “2022 has been a challenging and dynamic year for the business occasioned by heightened levels of inflation and consequent impact on businesses and households.

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“Despite these challenges, we were able to deliver double-digit revenue growth of 19 per cent YoY from N48.8bn to N57.9 billion and 19 per cent YoY net premium income growth from 27.1 billion to 34.7 billion at the end of the third quarter of the year.

Commenting on the development, the Chief Executive Officer of AXA Mansard Insurance, Kunle Ahmed said: “Despite the challenges within the business operating environment, the company’s performance reaffirms the company’s resilience and its strategy for long-term growth and sustainable strong performance with a focus on identifying new growth areas in our markets, strengthening our partnerships, and refining our distribution strategy as we grew revenues by 19%.”