AXA Mansard Insurance Plc, a member of the global AXA Group, has posted a robust performance for the half-year ended June 30, 2025, recording a 24% year-on-year rise in insurance revenues to ₦81.15 billion under the IFRS 17 reporting standard.

The growth was broad-based, with the Property & Casualty segment up 10% to ₦35.43 billion, Life & Savings climbing 17% to ₦14.15 billion, and the Health segment delivering a standout 48% surge to ₦31.58 billion.

Gross Written Premiums (GWP) rose 23% to ₦115.31 billion, driven by double-digit growth across all business lines: Property & Casualty up 11% to ₦52.60 billion, Life & Savings up 18% to ₦16.78 billion, and Health premiums soaring 41% to ₦45.93 billion.

The company attributed the strong health numbers to growing demand for healthcare-related insurance amid rising medical costs and heightened awareness.

Chief Financial Officer Ngozi Ola-Israel said the topline performance reflected “strong renewal ratios and consistent traction from new businesses across strategic product lines,” highlighting the effectiveness of the company’s distribution network and the relevance of its offerings in a challenging operating environment.

Profit before tax fell 73% to ₦7.73 billion, a drop the company linked to the absence of large foreign exchange gains that boosted last year’s figures. Adjusted for the one-off FX impact, underlying profit before tax would have grown 72%, supported by disciplined underwriting and tight cost controls.

Chief Executive Officer Kunle Ahmed described the results as a testament to the company’s operational resilience. “We delivered a solid revenue performance in the first half of the year, underscoring the strength of our core business. As we enter the second half, we are focused on maintaining margin resilience and seizing emerging opportunities,” he said.

Ahmed added that the company will continue to prioritise quality growth, prudent risk management, and capital efficiency. “By leveraging our technical expertise, accelerating our digital agenda, and working closely with our people, partners, and brokers, we remain confident in delivering sustainable value to shareholders,” he noted.

The results reinforce AXA Mansard’s position as one of Nigeria’s leading composite insurers, with strategic priorities centred on expanding market share, innovating product offerings, and deepening insurance penetration nationwide