AXA Mansard Insurance posts N60bn in gross written premium

AXA Mansard Insurance Plc, a member of the AXA Group, has recorded a gross written premium of N60.20bn in the 2021 financial year ended 31st December 2021. This is up 27 percent from N47.58 billion posted in December 2020.

The company also posted a Net Premium Income of N37.14bn, up 17 per cent from N31.72 billion in December 2020.

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The company’s operating expenses of N9.41bn, up 22% from N7.71bn in December 2020 while Profit before Tax of N5.78bn, is down 4% from N6.04bn recorded in December 2020 and profit after tax of N3.74bn, down 17% from N4.50bn in December 2020.

Commenting on the financials, the Chief Executive Officer, AXA Mansard Insurance, Kunle Ahmed, said: “AXA Mansard Insurance continues to be an exceptional insurer with great financial strength and excellent underwriting capabilities. This has been shown over the years by the organization’s exceptional financial and technical capabilities.”