AXA Mansard Reports ₦7.8 Billion H1 Profit Growth

AXA Mansard announced a half-year profit of ₦7.8 billion for H1 2026, reflecting a 14% year-on-year increase. The company's insurance revenue rose by 19% to ₦96.5 billion from ₦81.2 billion in the same period of 2025.

Gross Written Premium (GWP) increased by 17% to ₦134.9 billion, with health insurance being the fastest-growing segment, achieving a 32% rise in premiums to ₦60.6 billion. Life and Savings premiums grew by 21% to ₦20.4 billion, while Property and Casualty premiums increased by 3% to ₦54 billion.

The insurer's Insurance Service Result grew by 43% to ₦13.2 billion, indicating stronger underwriting performance. Despite a foreign exchange loss of ₦2.9 billion, underlying earnings remained robust, with profit after tax projected to have increased by 54% without this impact.

Chief Financial Officer Ngozi Ola-Israel attributed the growth to improved customer retention and disciplined underwriting, while CEO Kunle Ahmed confirmed the company's compliance with NAICOM's new capital requirements.