Prime Business AfricaAXA Mansard’s revenue grew by 26.64 percent year-on-year to N40.33 billion in the first quarter (Q1) of 2025, from N31.84 billion in the corresponding period in 2024.
In its consolidated and separate financial statement for the period ended March 31, 2025, AXA Mansard reported N27.2 billion in insurance service expenses, up by 46.92 percent year-on-year from N18.57 billion.
Join our WhatsApp ChannelAlso, net expense from reinsurance contracts held grew slightly by 0.11 percent from N8.57 billion in Q1 2024 to N8.58 billion in the first quarter this year.
As insurance expenses rose faster than revenue, AXA Mansard’s Insurance service results marginally decreased by 5.05 percent year-on-year from N4.70 billion to N4.46 billion.
The decline extended to its investment return, which fell from N14.40 billion in the first quarter of last year to N5.84 billion in the same period in 2025, reflecting a 59.40 percent decline.
In addition, AXA Mansard reported that its profit before tax (PBT) also dropped by 51.74 percent year-on-year, from N12.87 billion to N6.21 billion.
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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.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
