Prime Business AfricaOver N40.82 billion was generated by AXA Mansard in the second quarter (Q2) of 2025, surpassing the N33.77 billion recorded in the corresponding period in 2024, representing a 20.86 percent increase.
AXA Mansard announced the turnover in its unaudited financial statement for the period ended June 30, 2025, which showed that the company recorded N28.04 billion in service expenses, up by 53.01 percent from the N18.32 billion posted in Q2 2024.
Join our WhatsApp ChannelHowever, net expenses from reinsurance contracts held decreased to N8.03 billion in Q2 2025, compared to the N10.94 billion recorded in the same period last year, representing an increase of 26.6 percent.
But the company’s service result increased by 5.35 percent, from N4.50 billion in the second quarter of 2024, to N4.74 billion in Q2 2025.
According to the earnings report, the net financial result dropped by 90.16 percent to N1.15 billion during the period under review, from N11.73 billion notched up between April and June 2024.
Also, AXA Mansard reported a 46.01 percent decrease in finance cost, which declined to N282.23 million in Q2 this year, against the N522.82 million posted in the previous year’s second quarter.
Despite the drop in finance income, the insurer’s profit before tax (PBT) dropped to N1.57 billion in the second quarter of 2025, from N13.25 billion in Q2 2024, indicating a decrease of 88.09 percent.
During the period under review, AXA Mansard said it paid N991.95 million in taxes, against the N1.01 billion income tax filed in the second quarter of 2024.
The company also reported that profit after tax (PAT) dropped 95.21 percent to N586.05 million in Q2 2025, failing to replicate the N12.24 billion achieved in the corresponding period last year.
Also, AXA Mansard said its total assets grew to N234.02 billion at the end of June 2025, up from N193.60 billion registered at the end of December, representing a 20.87 percent increase.
Similarly, the company’s total liabilities also increased by 21.70 percent to N140.73 billion at the end of the second quarter this year, from N171.28 billion reported in the same period in 2024.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
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