AXA Mansard Drops Hint on Earnings Report, Dividend
Top Insurer, AXA Mansard Plc., has dropped a hint about its 2024 earnings release which is expected to be published after regulatory approval. The insurance company told the Nigerian Exchange that at the 101st Board meeting held on 28 February 2025, directors unanimously resolved to published Auditor’s reports for the financial year ended December 31, 2024.
The insurance company also revealed the board proposed dividend payment which is also subject to approval of the National Insurance Commission (NAICOM). The proposal followed 118% year on year surge in earnings per share which printed at 279 kobo from 128 kobo in 2023.
In its regulatory filing, AXA Board authorized management to submit audited report the Company for the year ended December 31, 2024 to the National Insurance Commission (NAICOM) for its approval.
That upon receipt of NAICOM approval, the Audited Financial Statements and Accounts should be filed with the Nigerian Exchange Limited (NGX) and Securities and Exchange Commission (SEC).
In its unaudited financial statement, AXA Mansard profit for2024 soared to N26.188 billion, representing year on year growth of 111% from N12.048 billion in 2023. In its unaudited report, AXA Mansard insurance service revenue increased by about 59% year on year to N131.337 billion from N82.753 billion in 2023.
AXA margin slipped as insurance service expenses accelerated faster, up by 64%year on year to N85.433 billion from N52.048 billion. The company reported that net expenses on re-insurance contract held spiked to N33.068 billion from N19.434 billion in 2023.
Hence, the group insurance results climbed to N12.836 billion in 2024, up by about 14% year on year from N11.269 billion in the comparable year amidst rising costs profile. Nigerian Exchange Falls by N73bn as Investors Dump VFD, OANDO
