Axa Mansard Insurance boosts profitability in first quarter

Axa Mansard Insurance for the first quarter 2017 has recorded growth in key performing indices as revenue and profit after tax records showed.

Released by the Nigerian Stock Exchange, the results showed that Axa Mansard grew revenue to N12. 87 billion, from N8.83 billion in 2016 corresponding period, indicating about 50 per cent growth in revenue.

The performance report further reflected that Profit after Tax for the Q1 period stood at N737.946 million, from N700.107 million recorded in 2016 Q1.

Axa Mansard Q1 group profit before tax peaked at N911.8 million, against N751.0 million in 2016 Q1.

Also, Q1 group net premium income stood at N3.31 billion, compared with N2.76 billion in Q1 2016.