Leading Nigerian insurer AXA Mansard Insurance Plc, a member of the global AXA Group, has delivered impressive results for the third quarter ended September 30, 2025. The company recorded a 23% year-on-year increase in total insurance revenues, reaching ₦120.53 billion.
Gross Written Premiums rose by 24% from ₦115.33 billion to ₦143.48 billion, reflecting solid growth across all business lines. The Property and Casualty segment grew by 17% to ₦64.04 billion, Life and Savings increased by 15% to ₦21.83 billion, while the Health segment achieved standout growth of 38% to ₦57.60 billion, highlighting AXA Mansard’s strong position in Nigeria’s health insurance market.
While the insurer recorded strong revenue growth, profit before tax stood at ₦6.10 billion, representing an 82% decline compared to Q3 2024. The dip was largely due to the absence of the exceptional foreign exchange gains recorded in the prior year. When adjusted for this one-off factor, underlying profits rose by about 17%, reflecting solid operational performance and disciplined execution.
On the balance sheet, total assets increased by 14% to ₦220.58 billion, while shareholders’ funds rose by 20% to about ₦56 billion. Investment income also grew by 43%, showcasing the company’s effective asset management strategy.
According to Chief Financial Officer Ngozi Ola-Israel, the strong performance underscores the company’s diversified portfolio and customer-centric approach. Chief Executive Officer Kunle Ahmed reaffirmed AXA Mansard’s commitment to operational excellence, process efficiency, digital innovation, and resilience in navigating both global and domestic challenges.
For industry watchers and investors, the results highlight broad-based growth across multiple insurance segments, particularly the continued expansion of health insurance. While headline profit declined due to last year’s exceptional items, the company’s underlying profitability trend remains positive.
Despite economic headwinds, AXA Mansard has shown that it can sustain growth and deliver value to stakeholders. The company’s performance signals its readiness to capitalise on opportunities within Nigeria’s evolving insurance market.