AXA Mansard Insurance delivers strong performance with 22% growth in Gross Written Premium
AXA Mansard Insurance delivers strong performance with 22% growth in Gross Written Premium
AXA Mansard Insurance Plc, a member of the AXA Group has recorded a Gross Written Premium of N37.18 billion, up 22 per cent from N30.54 billion in June 2020..
According to the company, Net Premium Income of N17.42 billion, up 11 per cent from N15.67 billion in the same year. Investment and Other Income of N1.24 billion, down70 per cent from4.10 billion; Operating Expenses of N4.41bn, up 43 per cent N3.89 billion in June 2020, while profit before tax of N3.16 billion, down 28 per cent from N4.4 billion recorded in June 2020 and profit after Tax of N2.29bn, down37 per cent from N3.61bn in June 2020
Commenting on the results, the Chief Financial Officer, 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.
Ola- Israel stressed that the organisation delivered ₦37 billion in revenues, up 22% from ₦30.5 billion recorded in the corresponding period last year. The decline in PBT was driven by fair value losses on financial assets, which is reflective of the financial market conditions in Nigeria. We however remain committed to delivering strong growth and profitability in the 2nd half of the year.
Commenting on the development of the AXA Mansard’s financials position at the end of the first quarter of 2021, the Chief Executive Officer, AXA Mansard Insurance, Mr. Kunle Ahmed, said “The revenue growth recorded, despite the effects of the economy and COVID 19 new normal on businesses and household income is attributable to the support of our Partners, the continued improvement in service delivery to our clients and the commitments of our people. We have maintained a strong performance especially in our P & C and Health portfolios in the first six months of the year. 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.
PROMOTE YOUR | MUSIC| VIDEO | COMEDY SKIT | MIXTAPES HERE ON CONNECTNAIJA CALL/WHATSAPP : +2348122390211
