AXA Mansard insurance company reports a terrible quarter in its Full year unaudited financial statement.

AXA Mansard is an insurance company and financial company that is focused on health, investments, insurance, and more. The company reports a whooping 37.3 percent decline from last year’s numbers.  The company is among the AZA group, a leader in the insurance sector in Nigeria. They also focus on asset management, with over 149,000 employees worldwide.

AXA Mansard Insurance Plc has released its unaudited financial statement for the full-year 2022. A very disappointing return. 

The company reported N3.629 billion as profit before tax for the year, representing a 37.3% decline from the N5.784 billion pre-tax profit reported in 2021.

See the key details of the financial report below.

Gross Written Premium

2022 FY: N68.980 billion

2021 FY: N60.197 billion

Change: +14.6%

Gross Premium income

2022 FY: N69.445 billion

2021 FY: N55.722 billion

Change: +24.628%

Net premium income

2022 FY: N46.207 billion

2021 FY: N37.142 billion

Change: +24.4%

Net underwriting income

2022 FY: N48.604 billion

2021 FY: N39.002 billion

Change: +24.6%

Net underwriting expenses

2022 FY: N40.231 billion

2021 FY: N29.773 billion

Change: +35.1%

Pre-tax profit

2022 FY: N3.629 billion

2021 FY: N5.784 billion

Change: -37.3%

Net Profit after tax

2022 FY: N2.234 billion

2021 FY: N3.735 billion

Change: -40.2%

Basic Earnings Per Share

2022 FY: N5.02

2021 FY: N3.88

Change: +29.4%