AXA Mansard Insurance Predicts N4.4 Billion Profit for Q3 2021

AXA Mansard Insurance, a one-stop, non-banking financial services insurance company, has predicted N4.416 billion profit after tax for the third quarter (Q3) of 2021.

In the company’s forecast information signed by Omowunmi Mabel Adewusi, company secretary, AXA Mansard Insurance Plc, the gross premium written was estimated at N45.777 billion for Q3 2021.

AXA Mansard projected that net premium income will hit N26.961 billion in the quarter under forecast.

Net claims expense was put at N16.188 billion for the quarter while underwriting profit predicted at N10.099 billion.

Investment and other income expected to hit N3.633 billion. Operating expense was estimated at N2.952 billion.

AXA Mansard expects profit before taxation to expand to N5.591 billion. Company income tax was forecast at N1.174 billion.

Profit after income taxation projected at N4.416 billion in the third quarter.

AXA Mansard Key Financial Highlights

Operating Profit Before Working Capital Changes  N3.331 billion
Net Cash Generated from Operating Activities (N19,710,898,000)
Cashflow From Financing Activities (N2,057,287,000)
Cashflow From Investing Activities N5,040,075,000
Net increase/decrease in cash and cash equivalents (N16,728,110,000)
Cash/Bank Balances at The Beginning of The Period N20,251,719,000
Cash/Bank Balances at The End of The Period N3,523,609,000