AXA Mansard Insurance Plc has reported an 81 per cent increase in profit after tax to N10.9 billion for the nine months ended September 2026, supported by stronger underwriting performance and revenue growth across its business segments.
The company’s insurance revenue rose by 19 per cent to N143.1 billion from N120.5 billion in the corresponding period of 2025, while profit before tax increased by 111 per cent to N12.9 billion. Gross written premiums also grew by 18 per cent to N169.5 billion, with the health business recording the highest growth at 33 per cent to N76.5 billion.
Chief Financial Officer Ngozi Ola-Israel attributed the performance to stronger underwriting and investment results, improved customer retention and new business acquisition. Chief Executive Officer Kunle Ahmed said the company had met NAICOM’s new minimum capital requirements, while total assets increased by 14 per cent to N260.7 billion. However, the insurer recorded a foreign exchange loss of N4.3 billion during the third quarter.
