AXA Mansard Insurance Plc, in its unaudited financial report 2019, posted a gross written premium of N43.62bn in 2019 up by 29 per cent from the N33. 92billion it recorded in 2018.
The company’s net premium income also grew by 33per cent to N26.29bn from N19.70bn within the period under review.
The account statement showed that the insurer’s profit before tax grew by 16 percent to N3.93bn in 2019 compared with N3.38bn in 2018, the profit after tax moved up by 17 per cent to N2.91bn in 2019 as against N2.48bn recorded as at December 2018.
Commenting on the financials at the end of December 2019, Mr. Kunle Ahmed, the company’s Chief Executive Officer, said “our focus is on identifying new growth areas in our markets, strengthening our partnerships and refining our distribution strategy continues to pay-off as we grew revenues by 29 percent despite the challenging operating environment.
The 44 per cent growth in net claims he said is a testament of their capability to pay all valid claims promptly even as they transit from just a payer to the partner of our numerous customers.
