Insurer declares 14% growth in GWP, promises investors more return

Underwriting firm, AXA Mansard Insurance Plc, has recorded a gross written premium of N28.64 billion, 14 per cent up from N25.08 billion in the comparative period of 2021.

The insurer, at the weekend, said in its financial statement made available to The Guardian that the net premium income of N11.57 billion, 39 per cent up from N8.34 billion recorded in Q1 of 2021.

Investment and other income were N1.23 billion, a 25 per cent dip from N1.64 billion in March 2021.

Operating expenses of N2.54bn, up to one per cent N2.52 billion in March 2021 while profit before tax (PBT) of N470 million, declining 84 per cent from N2.92 billion in March 2021 and profit after tax (PAT) of N390 million, declining 85 per cent from N2.63 billion in March 2021.