By Rosemary Iwunze

AXA Mansard Insurance Plc, a member of the AXA Group, has recorded 27 per cent growth in Gross Written Premium, GWP, to N60.20 billion in December 2021 from N47.58 billion recorded in December 2020.

In a statement from the company, net premium income went up by 17 per cent to N37.14 billion from N31.72 billion in December 2020 while investment and other income declined by 12 per cent to N6.25 billion from N7.09 billion in December 2020.

Operating expenses increased by 22 per cent to N9.41 billion from N7.71 billion in December 2020 while profit before tax went down by four per cent to N5.78 billion from N6.04 billion recorded in December 2020 and profit after tax declined by 17 per cent to N3.74 billion from N4.5 billion in December 2020.

Commenting on the financials, Chief Executive Officer, AXA Mansard Insurance, Kunle Ahmed, said “We delivered strong revenue growth across all our business lines despite the challenging macroeconomic terrain and yield environment.

“The strong revenue growth would have been impossible without the support of our customers and partners and we are immensely grateful.

“The growth in net claims is also a reflection of our financial ability to meet the promise we made to policyholders.

“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.”

Also speaking, Chief Financial Officer, Mrs. Ngozi Ola-Israel, said: “The business delivered strong growth across various indices.”