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- Date de création : 1989 in Lagos, Nigeria
- Classes of business: Life, non-life, pensions insurance and financial services
- Rating : AM Best / B+ / Stable
- Geographical presence: Two subsidiaries (AXA Mansard Health & AXA Mansard Investments) and 36 local branches
|
AXA Mansard Insurance Management
| Kola Adesina | Chairman of the Board of Directors |
| Kunle Ahmed | Chief Executive Officer (CEO) |
| Ngozi Ola-Israel | Chief Financial Officer (CFO) |
| Teju Scott | Chief Risk Officer (CRO) |
| Olusola Odumuyiwa | Chief Audit Officer |
| Rashidat Adebisi | Executive Director & Chief Client Officer |
AXA Mansard Insurance Shareholding
| Actionnaires | Shares |
| Assur Africa Holding | 76.48% |
| Others | 23.52% |
AXA Mansard Insurance
Is, in 2023:
- a group turnover (1) of 96 400 000 USD
- a group insurance revenue(1)(IFRS17) of 91 419 000 USD
- an insurance turnover of 57 717 000 USD
- a share capital of 20 067 000 USD
- assets of 156 626 000 USD
- a shareholder’s equity of 48 779 000 USD
- a net result of 15 648 000 USD
- a net non-life loss ratio of 41.78%
- a net non-life management expenses ratio of 35.32%
- a net non-life combined ratio of 77.1%
(1) Including revenues from its subsidiaries AXA Mansard Health Limited and AXA Mansard Investments Limited
AXA Mansard Insurance : Main technical highlights
Chiffres en milliers USD
| Highlights | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Group turnover | 119 520 | 124 193 | 146 281 | 153 826 | 96 400 |
| Insurance revenue (IFRS17) (1) | - | - | - | 154 863 | 91 419 |
| Gross written insurance premiums | 76 641 | 71 846 | 91 202 | 91 894 | 57 717 |
| * Gross non-life written premiums | 54 897 | 52 358 | 68 757 | 61 112 | 38 510 |
| * Gross life written premiums | 21 744 | 19 488 | 22 445 | 30 782 | 19 207 |
| Net non-life written premiums | 19 441 | 19 452 | 27 160 | 13 328 | 13 585 |
| Net non-life earned premiums | 19 096 | 18 544 | 19 295 | 18 360 | 11 858 |
| Net non-life incurred losses | 10 755 | 12 136 | 9 721 | 6 713 | 4 955 |
| Non-life management expenses | 5 972 | 5 501 | 6 531 | 6 980 | 4 799 |
| Net non-life loss ratio (2) | 56.32% | 65.44% | 50.38% | 36.57% | 41.78% |
| Net non-life management expenses ratio (3) | 30.72% | 28.28% | 24.05% | 52.37% | 35.32% |
| Net non-life combined ratio (4) | 87.04% | 93.72% | 74.43% | 88.94% | 77.10% |
| Net result | 7 969 | 11 850 | 9 076 | 5 855 | 15 648 |
(1) New indicator introduced by the new IFRS 17 accounting standards
(2) Net non-life loss ratio = Net non-life incurred losses / Net non-life earned premiums
(3) Net non-life management expenses ratio = Non-life management expenses / Net non-life written premiums
(4) Net non-life combined ratio = Net non-life loss ratio + Net non-life management expenses ratio
Exchange rate as at 31/12/2023: 1 NGN = 0.00111 USD; 31/12/2022: 1 NGN = 0.00223 USD; at 31/12/2021: 1 NGN = 0.00243 USD; at 31/12/2020: 1 NGN = 0.00261 USD; at 31/12/2019: 1 NGN = 0.00274 USD.
AXA Mansard Insurance : Turnover breakdown by class of business
Figures in thousands USD
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 shares |
|---|---|---|---|---|---|---|
| Energy | 27 164 | 27 100 | 35 840 | 32 832 | 20 116 | 20.87% |
| Incendie | 7 544 | 8 336 | 9 672 | 9 099 | 7 969 | 8.27% |
| Motor | 8 080 | 6 420 | 6 809 | 6 290 | 4 379 | 4.54% |
| Accident | 5 083 | 4 191 | 4 798 | 5 290 | 3 226 | 3.35% |
| Engineering | 2 374 | 1 798 | 4 708 | 1 358 | 1 011 | 1.05% |
| Marine | 2 301 | 1 682 | 1 949 | 1 635 | 995 | 1.03% |
| Aviation | 2 351 | 2 831 | 4 981 | 4 608 | 814 | 0.84% |
| Total non-life | 54 897 | 52 358 | 68 757 | 61 112 | 38 510 | 39.95% |
| Individual insurance | 5 540 | 6 935 | 7 676 | 14 576 | 11 242 | 11.66% |
| Group insurance | 16 204 | 12 553 | 14 769 | 16 206 | 7 965 | 8.26% |
| Total life | 21 744 | 19 488 | 22 445 | 30 782 | 19 207 | 19.92% |
| Total life and non-life insurance | 76 641 | 71 846 | 91 202 | 91 894 | 57 717 | 59.87% |
| Other activities (1) | 42 879 | 52 347 | 55 079 | 61 932 | 38 683 | 40.13% |
| Grand total | 119 520 | 124 193 | 146 281 | 153 826 | 96 400 | 100% |
(1) Including health and pension insurance and investment management services provided by its subsidiaries AXA Mansard Health Limited and AXA Mansard Investments Limited.
AXA Mansard Insurance : Net written premiums by non-life class of business
Figures in thousands USD
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 | 2022-2023 evolution (1) |
|---|---|---|---|---|---|---|
| Energy | 5 322 | 4 770 | 7 739 | -1 076 | 2 629 | 590.96% |
| Fire | 1 118 | 2 919 | 3 862 | 2 889 | 2 447 | 70.17% |
| Motor | 7 375 | 6 071 | 6 706 | 6 141 | 4 294 | 40.48% |
| Accident | 3 804 | 3 743 | 4 341 | 4 783 | 2 852 | 19.80% |
| Engineering | 766 | 697 | 2 454 | -659 | 334 | 201.84% |
| Marine | 759 | 748 | 1 157 | 749 | 535 | 43.33% |
| Aviation | 297 | 504 | 901 | 501 | 494 | 98.00% |
| Total | 19 441 | 19 452 | 27 160 | 13 328 | 13 585 | 104.78% |
AXA Mansard Insurance : Net earned premiums by non-life class of business
Figures in thousands USD
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 | 2022-2023 evolution (1) |
|---|---|---|---|---|---|---|
| Energy | 3 660 | 3 594 | 3 293 | 2 752 | 1 776 | 29.61% |
| Fire | 2 169 | 2 341 | 3 240 | 2 929 | 2 384 | 63.47% |
| Motor | 7 351 | 6 494 | 6 340 | 6 162 | 3 820 | 24.53% |
| Accident | 3 810 | 3 674 | 4 044 | 4 467 | 2 727 | 22.68% |
| Engineering | 713 | 949 | 691 | 519 | 315 | 21.87% |
| Marine | 1 110 | 982 | 850 | 938 | 385 | -17.54% |
| Aviation | 283 | 510 | 837 | 593 | 451 | 53.01% |
| Total | 19 096 | 18 544 | 19 295 | 18 360 | 11 858 | 29.75% |
(1) Growth rate in local currency
AXA Mansard Insurance : Net incurred losses by non-life class of business
Figures in thousands USD
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 | 2022-2023 evolution (1) |
|---|---|---|---|---|---|---|
| Energy | 4 056 | 6 676 | 2 515 | -899 | 1 105 | 347.07% |
| Fire | 532 | 2 896 | 2 122 | 2 790 | 2 019 | 45.40% |
| Motor | 4 711 | 3 460 | 3 260 | 2 484 | 801 | -35.23% |
| Accident | 522 | -1 838 | 1 071 | 939 | 400 | -14.49% |
| Engineering | 302 | 707 | 249 | 578 | 370 | 28.65% |
| Marine | 327 | 170 | 206 | 491 | 59 | -75.78% |
| Aviation | 305 | 65 | 298 | 330 | 201 | 22.06% |
| Total | 10 755 | 12 136 | 9 721 | 6 713 | 4 955 | 48.27% |
(1) Growth rate in local currency
AXA Mansard Insurance : Management expenses by non-life class of business
Figures in thousands USD
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 | 2022-2023 evolution(1) |
|---|---|---|---|---|---|---|
| Energy | 943 | 986 | 1 051 | 1 327 | 1 257 | 90.34% |
| Fire | 2 007 | 1 668 | 2 228 | 2 176 | 1 821 | 68.10% |
| Motor | 955 | 878 | 889 | 953 | 508 | 6.98% |
| Accident | 915 | 719 | 854 | 942 | 596 | 27.10% |
| Engineering | 472 | 422 | 683 | 629 | 218 | -30.26% |
| Marine | 447 | 513 | 380 | 510 | 218 | -14.15% |
| Aviation | 233 | 315 | 446 | 443 | 181 | -17.89% |
| Total | 5 972 | 5 501 | 6 531 | 6 980 | 4 799 | 38.11% |
(1) Growth rate in local currency
AXA Mansard Insurance : Net loss ratio by non-life class of business
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Energy | 110.81% | 185.74% | 76.38% | -32.65% | 62.23% |
| Fire | 24.51% | 123.73% | 65.49% | 95.24% | 84.71% |
| Motor | 64.08% | 53.28% | 51.42% | 40.32% | 20.97% |
| Accident | 13.71% | -50.02% | 26.48% | 21.03% | 14.66% |
| Engineering | 42.41% | 74.42% | 36.03% | 111.38% | 117.58% |
| Marine | 29.44% | 17.29% | 24.20% | 52.30% | 15.36% |
| Aviation | 108.12% | 12.75% | 35.54% | 55.63% | 44.38% |
| Total | 56.32% | 65.44% | 50.38% | 36.57% | 41.78% |
AXA Mansard Insurance : Net management expenses ratio by non-life class of business
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Energy | 17.71% | 20.68% | 13.58% | -123.30% | 47.80% |
| Fire | 179.52% | 57.13% | 57.68% | 75.32% | 74.40% |
| Motor | 12.95% | 14.47% | 13.26% | 15.53% | 11.82% |
| Accident | 24.06% | 19.20% | 19.67% | 19.69% | 20.89% |
| Engineering | 61.57% | 60.53% | 27.84% | -95.42% | 65.35% |
| Marine | 58.98% | 68.57% | 32.85% | 68.14% | 40.81% |
| Aviation | 78.26% | 62.51% | 49.56% | 88.32% | 36.62% |
| Total | 30.72% | 28.28% | 24.05% | 52.37% | 35.32% |
AXA Mansard Insurance : Net combined ratio by non-life class of business
| Classes of business | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Energy | 128.52% | 206.42% | 89.96% | -155.95% | 110.03% |
| Fire | 204.03% | 180.86% | 123.17% | 170.56% | 159.11% |
| Motor | 77.03% | 67.75% | 64.68% | 55.85% | 32.79% |
| Accident | 37.77% | -30.82% | 46.15% | 40.72% | 35.55% |
| Engineering | 103.98% | 134.95% | 63.87% | 15.96% | 182.93% |
| Marine | 88.42% | 85.86% | 57.05% | 120.44% | 56.17% |
| Aviation | 186.38% | 75.26% | 85.10% | 143.95% | 81.00% |
| Total | 87.04% | 93.72% | 74.43% | 88.94% | 77.10% |
Source: www.axamansard.com
AXA Mansard Insurance : contact
| Head office | Plot 1412, Ahmadu Bello Way, Victoria Island, Lagos, Nigéria |
| Phone | + 234 01-4485482 |
insure@axamansard.com | |
| Website |
