Axa Mansard Insurance Plc, a Lagos-based composite insurance has revealed it grew its assets by 7.5 percent to N99.22 billion for 2020 from N92.28 billion in 2019.
Analysis of its 2020 financial statements submitted to the Nigerian Stock Exchange (NSE) showed that the insurer’s gross premium income for the period also surged by 9.38 percent to N45.5 billion from N41.6 billion recorded in the corresponding period in 2019.
Profit for the year reached N4.29 billion compared to N2.90 billion made in 2019 as more Nigerians sought cover due to the Covid-19 pandemic.
Non-life business package had a gross premium income of 20 billion, 4.64 percent higher compared to 19 million from 2019, while life business earnings dropped by 3.31 percent to N7.46 billion.
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