Prime Business Africa
AXA Mansard Insurance Plc reported its revenue grew by 22.68 percent and its profit after tax (PAT) declined by 80.08 percent in the first nine months of 2025.
According to the company’s unaudited financial statement for the period ending September 30, 2025, AXA Mansard’s turnover increased to N120.52 billion during the period in review this year, surpassing last year’s figure of N98.24 billion.
Join our WhatsApp ChannelAlso, insurance service expenses overshadowed revenue growth, as the former increased by 43.67 percent to N84.81 billion between January and September 2025, compared to the N59.03 billion gulped in the corresponding period in 2024.
However, AXA Mansard said net expense from reinsurance contracts held dropped to N25.37 billion between the first quarter (Q1) and third quarter (Q3) of this year, falling below the N26.72 billion reported in the previous year.
Despite the 5.05 percent decline in net expense from reinsurance contracts held, insurance service results dwindled by 17.21 percent year-on-year, from N12.49 billion to N10.34 billion.
The insurance company also reported that investment return fell by 73.07 percent to N8.98 billion during the period under review, against the N33.36 billion notched up between Q1 and Q3 2024.
AXA Mansard added that net finance income from reinsurance contracts decreased by 75.58 percent to N5.22 million between January and September of this year, compared to the N21.38 million recorded in the same period last year.
The financial statement also showed the insurer failed to replicate the N33.38 billion net financial result recorded between Q1 and Q3 last year, as AXA Mansard closed the review period this year with N8.99 billion, representing a decline of 73.07 percent.
In the same vein, AXA Mansard’s profit before tax (PBT) slumped to N6.09 billion in the period under review, indicating an 82.30 percent decrease when compared to the N34.48 billion reached in 2024.
As a result, the company’s income tax expense dropped by 97.80 percent year-on-year, from N4,32 billion to N94.86 million.
The decline in income tax did not prevent AXA Mansard from recording an 80.08 percent decrease in profit after tax, as it reported a post-profit of N6 billion for the period between Q1 and Q3 2025, falling short of the N30.15 billion reached in the same period the previous year.
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