Insurance revenues at AXA Mansard experience a significant 24% increase during the first half of 2025, maintaining a strong growth trajectory.
In the rapidly evolving insurance landscape of Nigeria, AXA Mansard Insurance Plc, a renowned member of the global AXA Group, has posted impressive results for the half-year ended June 30, 2025.
Under the leadership of Kunle Ahmed, who assumed the role of CEO as of 2025, the company has demonstrated a commitment to leveraging technical expertise, advancing digital agendas, and harnessing collective efforts for stronger returns.
The financial highlights of the period reveal a 24% year-on-year growth in insurance revenues, with the total reaching N81.15 billion. This growth was driven by various segments, each showing significant progress.
The Life & Savings segment, a key area of focus, saw revenues climb by 17%, amounting to N14.15 billion. The Property & Casualty segment also recorded an 11% increase, bringing its revenues to N52.60 billion. The Health segment, another critical area, experienced a 48% growth, reaching N31.58 billion.
The growth in revenues was mirrored in the Gross Written Premiums (GWPs), which increased by 23% to N115.31 billion. The Property & Casualty portfolio revenues rose by 10% to N35.43 billion, while Life & Savings premiums grew by 18% to N16.78 billion.
However, despite the strong revenue performance, the profit before tax came in at N7.73 billion, representing a 73% decline compared to the same period in 2024. This decline was partly due to a one-off FX impact, as the results, when adjusted for this factor, would have shown a 72% growth in underlying profit before tax.
Despite this, the results signaled a continuation of AXA Mansard's strategic priorities to expand market share, innovate product offerings, and deepen insurance penetration in Nigeria. The company aims to preserve margin resilience and capture emerging value-accretive opportunities.
CEO Kunle Ahmed expressed confidence in the company's business fundamentals and growth potential, emphasizing the focus on quality growth, prudent risk management, and capital efficiency to navigate market challenges. The results reaffirmed AXA Mansard's position as one of Nigeria's leading composite insurers.
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