AXA Mansard Insurance, the Nigerian subsidiary of the French group AXA recorded a sharp drop in profitability at the end of the financial year 2025, despite strong growth in commercial activity. According to the states Recently published financial statements, the insurer's net profit was 5.45 billion naira (about 4 million dollars) as at 31 December 2025, compared to 25.96 billion naira a year earlier, a decrease of 78.9%.

This spectacular fall is mainly explained by the absence, in 2025, of a significant exceptional gain linked to fluctuations in exchange rate. In 2024, AXA Mansard had in fact benefited from an effect of positive exchange rate close to 27 billion naira. Conversely, fiscal year 2025 resulted in a loss of 855 million naira on this item, weighing heavily on the final result.

Profitability was also affected by the rise in operational expenses. Insurance service costs increased by 34.5% to reach 113.68 billion naira. Staff costs have climbed to 8.28 billion naira, while maintenance expenses IT increased to 3.67 billion naira, reflecting increased investments in human resources and systems

Despite this decline in earnings, commercial activity is remained dynamic. Insurance revenues jumped 22%, from 131.66 billion naira in 2024 to 160.56 billion in 2025. Bounty collection in cash amounted to 159.53 billion naira, while the branch health, led by AXA Mansard Health Limited, generated $66.31 billion naira of income. In other words, the company sold more than policies, but with significantly reduced profitability.

Despite this context, AXA Mansard maintained a policy favorable to shareholders. The group distributed 4.05 billion naira of dividends for the financial year 2025, deducted from profits no distributed, compared to 3.06 billion naira the previous year. Solidity In addition, the insurer's financial position remains stable, with total assets greater than 228 billion naira.

For future exercises, AXA Mansard intends refocus its strategy on improving profitability, by ensuring Transforming revenue growth into sustainable profits The company is is also preparing for the adoption of IFRS 18, with the aim of strengthen the transparency and comparability of its financial performance