AXA Mansard

AXA Mansard, a member of the global AXA Group, released its FY2025 results reporting insurance revenue up 22% to ₦160.56 billion, with growth broad-based across its three core segments: Property & Casualty, Life & Savings, and Health, the latter rising 40% to ₦66.32 billion. The company's Insurance Service Result, a measure of underlying underwriting profitability, increased 9% to ₦14.87 billion.

Profit before tax fell sharply to ₦6.12 billion from ₦31.69 billion in 2024, a decline the company attributed to lower investment returns amid a volatile foreign exchange and interest rate environment, alongside rising claims. MD/CEO Kunle Ahmed characterised the year as one of strong topline growth and stable underlying earnings despite the investment portfolio's weaker performance, and the board elected to retain full earnings rather than pay a dividend, choosing to strengthen capital buffers ahead of anticipated recapitalisation. Investor sentiment moved in the opposite direction to profit, however: AXA Mansard's share price rose from ₦8.20 at the end of 2024 to ₦13.70 by the end of 2025, suggesting the market weighted the underlying insurance business's growth more heavily than the one-off investment-driven profit dip.

The company's FY2025 results place it comfortably ahead of new NAICOM minimum capital thresholds of ₦15 billion for non-life business and ₦10 billion for life operations, positioning it well within Nigeria's insurance sector reform framework.