AXA Mansard Insurance Plc recorded 19 per cent growth in gross written premium in the third quarter to N57.9 billion.
The interim report and accounts of the insurance company for the third quarter ended September 30, 2022 showed that the company recorded double-digit revenue growth of 19 per cent from N48.8 billion in third quarter 2021 to N57.9 billion in third quarter 2022. Net premium income growth also rose the same margin from N27.1 billion in 2021 to N34.7 billion in 2022.
Chief Executive Officer, AXA Mansard Insurance Plc, Mr Kunle Ahmed, said despite the challenges within the business operating environment, the company’s performance reaffirmed its resilience.
He noted that the performance further confirmed its strategy for long term growth and sustainable strong performance with a focus on identifying new growth areas in its markets, strengthening partnerships, and refining distribution strategy.
“With our focus on prioritisation and efficiency we are taking steps to strengthen our balance sheet as well as our underwriting and claims management processes. Looking forward to 2023, the last quarter of the year presents a crucial opportunity to consolidate on our wins and all other measures that will help us navigate the current economic environment whilst we continue to take strategic steps to keep advancing as an exceptional insurer with great financial strength and excellent underwriting capabilities,” Ahmed said
