AXA Mansard Insurance reports 47.7% increase in profit to N4.3bn

By Kayode Tokede

AXA Mansard Insurance Plc, a major player in Nigeria’s insurance sector has released its subsidiary companies’ unaudited financial statements December 31, 2020 with gross written premium  growth to N47.58 billion from N43.620 billion in 2019.

Profit for the year grew by 47.7per cent to N4.296 billion from N2.908 billion in 2019.

AXA Mansard had forecasted the fourth quarter (Q4) 2020 with gross premium written of N48.013 billion, a 10% improvement over N43.620 billion in Q4 2019.