AXA Mansard Insurance Plc has reported a 22 per cent increase in total insurance revenue to ₦160.6 billion for the 2025 financial year. The company attributed the growth to improved underwriting performance and expansion across key segments.
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Segment performance and operational gains
According to its financial results, growth was recorded across life, health and general insurance segments, with health insurance emerging as the strongest contributor. The company noted increased policy uptake driven by corporate clients and retail expansion initiatives.
Gross written premiums also rose during the period, supported by improved risk management and digital distribution channels. Management stated that operational efficiency measures helped sustain profitability despite inflationary pressures.
Insurance penetration in Nigeria remains relatively low compared to global averages. However, industry operators continue to expand digital offerings to increase accessibility.
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Industry outlook and SME relevance
Stakeholders say sustained revenue growth reflects improving confidence in the insurance sector. SMEs increasingly require risk protection products to manage operational uncertainties, particularly in manufacturing, trade and logistics.
The 22 per cent revenue increase highlights resilience within Nigeria’s financial services industry despite economic headwinds. Analysts expect further consolidation within the insurance sector as firms pursue capital strengthening and regulatory compliance.
As economic reforms continue, insurance operators may benefit from increased infrastructure and business activities requiring coverage.
The company reaffirmed its commitment to innovation and customer-focused solutions as it positions for sustained growth.
