AXA Mansard Projects N3.6bn Profit for H1 2026

AXA Mansard Insurance Plc has forecasted a profit of N3.6 billion for the first half of 2026, indicating a significant decline from the N6.7 billion recorded in the corresponding period of 2025. The company anticipates higher insurance revenue, projecting earnings of N90.7 billion, an 11.85% increase from N81.1 billion in the first half of 2025.

This growth is expected to be driven by major business segments, including health insurance, which accounts for 38% of total insurance products, followed by oil and gas at 24% and fire insurance at 10.3%. However, the outlook indicates rising operational and reinsurance costs, with projected expenses of N62.8 billion compared to N55.3 billion in the first half of 2025.

The company expects a modest 10% year-on-year growth in insurance service results, forecasting a pre-tax profit of N4.2 billion, down from N7.7 billion in the previous year. Tax expenses are projected to decrease to N638.4 million from N933.5 million in the first half of 2025.