Under the new IFRS 17 reporting standards, AXA Mansard Insurance Plc, a part of the worldwide AXA Group, reported an excellent financial performance for the half-year ended June 30, 2025, with insurance revenues growing by 24% year over year to N81.15 billion.
The company’s most recent financial results show widespread expansion in each of its three main business divisions.
Its Property & Casualty portfolio had a 10% increase in revenue to N35.43 billion, Life & Savings saw a 17% increase to N14.15 billion, and the Health section saw an astounding 48% growth to N31.58 billion.Similarly, double-digit growth in every vertical saw Gross Written Premiums (GWPs) increase by 23% to N115.31 billion. In light of growing awareness and healthcare costs, there is a high demand for insurance solutions related to healthcare, as seen by the 11% increase in property and casualty premiums to N52.60 billion, the 18% growth in life and savings to N16.78 billion, and the 41% increase in health premiums to N45.93 billion.
AXA Mansard’s Chief Financial Officer, Mrs. Ngozi Ola-Israel, discussed the financial results, pointing out that the company’s top line growth was fueled by robust renewal rates and steady traction from new business across important product lines.
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