AXA Mansard Insurance Plc, a member of the AXA Group, has recorded a Gross Written Premium of N37.18 billion, up by 22 percent from N30.54bn in June, 2020.
According to the company, the Net Premium Income was N17.42bn, up 11 percent from N15.67bn in the same year. Investment and other incomes of N1.24bn, down 70 per cent from N4.10bn; Operating Expenses of N4.41bn, up 43 percent from N3.89bn in June, 2020, while profit before tax of N3.16bn was recorded, down by 28 per cent from N4.4bn last year. The profit after Tax was N2.29bn, down by 37 percent from N3.61bn in June, 2020.
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Commenting on the results, the Chief Financial Officer of Mansard, Mrs Ngozi Ola-Israel, said, “Despite the tough operating environment, AXA Mansard delivered strong results in the half-year ended 30th June, 2021. The performance further re-enforces resilience and capacity to produce sustainable results.
“We however remain committed to delivering strong growth and profitability in the second half of the year.”
Commenting on the development of AXA Mansard’s financials position at the end of the first quarter of 2021, the Chief Executive Officer of AXA Mansard Insurance, Mr Kunle Ahmed, said, “We will continue to work hard to accelerate growth across all our lines of businesses by launching digital solutions to improve our engagement with partners and refine our risk management advisory services as a value add to our various customers.”
