By Omobola, Tolu-Kusimo
Regardless of the difficult working surroundings, AXA Mansard Insurance coverage Plc, in its unaudited monetary report 2020, has introduced a Gross Written Premium (GWP) of N21.08 billion as at March, 2020 up by 21 per cent from N17.42 billion in identical interval in 2019.
The corporate’s Web Premium Earnings additionally grew N8.25 billion, up 39 per cent from N5.95billion in March 2019.
Whereas Revenue earlier than Tax recorded a 96 per cent enhance to N2.01 billion in 2020 in contrast with N1.02 billion recorded in March 2019, the Revenue after Tax moved up by 105 per despatched to N1.82 billion in 2020 as towards 89 billion in March 2019.
The assertion, as well as, confirmed a complete asset of N104.32 billion, up 13 per cent from N92.28 billion inside the identical interval whereas the group’s shareholders’funds elevated to N26.85 billion, up by six per cent from N25.26 billion as at December 2019.
On the financials on the finish of March 2020, AXA Mansard’s Chief Government Officer, Kunle Ahmed, stated regardless of the challenges arising from the outbreak of COVID-19 in the direction of the tip of the quarter, they had been capable of develop their premium revenue and recorded robust profitability progress.
“Whereas the well being enterprise stays the quickest rising and the industrial traces proceed to carry its share of the market, our retail enterprise continues to justify the funding in our retail construction with 46 per cent progress over the identical interval final 12 months,” he famous.