WATCH THE VIDEO HERE AXA Mansard Insurance Plc has reported a pre-tax profit of N34.4 billion for the nine-month period ending September 30, 2024, according to its latest financial report. This reflects a 128.37% increase from the N15 billion recorded in the same period last year, indicating a notable year-over-year improvement in profitability. The company’s insurance revenue reached N98.2 billion, representing a 60.27% rise from the previous year. Additionally, AXA Mansard’s earnings per share rose by 140.44% year-over-year, moving from N1.36 in 2023 to N3.27 for the reporting period, indicating an increase in shareholder returns. A cursory review of AXA Mansard’s financial results indicates that core insurance revenues, particularly from non-life and health insurance segments, were key drivers of performance in the first nine months of the year. As of September 30, 2024, AXA Mansard’s total assets grew to N210.72 billion, driven by increases in investment securities, reinsurance contract assets, and investment property holdings. Liabilities also increased sharply to N144.19 billion from N99.7 billion, largely due to higher insurance contract liabilities and borrowings. AXA Mansard’s stock ended trading at N5.80 per share on November 5, 2024. Year-to-date, the company has appreciated by 5.45% in the stock market.
AXA Mansard reports N34.4 billion pre-tax profit for 9-month period, achieving 128% year-over-year growth
