AXA Mansard Plc. recorded a strong financial performance in 2025, with profit after tax surging by 117 per cent to N26.88 billion, according to the company’s audited financial statements for the year.
The sharp increase in profitability was driven by improved underwriting performance and higher investment income, with insurance service results and other investment revenue providing major support to the bottom line.
Audited figures showed that insurance service results rose by 14 percent year-on-year to N12.836 billion in 2025, compared with N11.269 billion recorded in the previous financial year.
Insurance revenue grew significantly, increasing by 59 per cent to N131.337 billion from N82.753 billion in 2024, despite intense competition and a challenging operating environment across the insurance industry.
A breakdown of revenue showed that the health insurance segment remained the largest contributor, generating N47.228 billion, followed by oil and gas insurance at N37.469 billion and fire insurance, which contributed N12.646 billion.
However, insurance service expenses expanded at a faster pace than revenue, rising by 64 per cent to N85.433 billion from N52.048 billion in the corresponding period of 2024, reflecting higher claims and operating costs.
The insurer also reported a 70 per cent year-on-year increase in net reinsurance contracts held, which climbed to N33.068 billion from N19.434 billion.
Investment performance was another key driver of earnings growth, as total investment return more than doubled, rising by 106 per cent to N35.558 billion from N17.258 billion, supported by gains from other investment income streams.
Profit before tax for the 2025 financial year increased by 96 per cent to N30.983 billion, up from N15.772 billion recorded in 2024.
After accounting for a 29 per cent increase in income tax expense, AXA Mansard’s net income settled at N26.188 billion, translating into earnings per share of 279 kobo for the year.
No comments:
Post a Comment