AXA Mansard Insurance Plc has released its financial forecast for the first half (H1) of 2026, projecting total revenue of N90.7 billion, an 11.85% increase over the same period last year.
The company anticipates a profit after tax of N3.6 billion, slightly lower than the N6.7 billion recorded in H1 2025.
Despite the economic challenges in Nigeria, the insurance group’s revenue growth shows high demand for health, oil and gas, and fire insurance policies from businesses and corporations seeking to protect their assets.
AXA Mansard’s income is built on three major pillars:
Health Insurance: This is the biggest contributor, making up 38% of their business.
Oil and Gas: Accounting for 24%, showing their strong ties to Nigeria’s energy sector.
Fire Insurance: Coming in at roughly 10%.
Rising Costs vs. Growing Income
The group’s half-year forecasts project a lower profit forecast even when the company’s revenue is expected to advance due to the rising operational cost of doing business in Nigeria.
The Forecasted Expenses:
Insurance Service Expenses: Expected to hit N62.8 billion as the company handles more policies and potential claims.
Operating Expenses: Estimated at N13.3 billion for the first half of the year.
Investment Income: The company expects to make N7.9 billion from its investments, a slight improvement from the N7 billion it made in 2025, but still far below the massive N26.7 billion it saw in early 2024.
After paying an estimated N638.4 million in taxes, the company expects to make a profit-after-tax of N3.6 billion.
AXA Mansard Stock Market Performance
- 2025 Success: The stock recorded 67% return last year.
- 2026 So Far: The group’s share price has already gained 11% so far this year, making it the 81st best-performing stock listed on the Nigerian Exchange Group (NGX).
AXA Mansard Insurance is the 66th most traded stock on the Nigerian Stock Exchange over the past three months.
The insurance group has traded a total volume of 159 million shares in 13,317 deals. The deals were valued at NGN 2.46 billion. The company has sold 2.52 million shares within the same period.
Price Movement
The stock hit a peak of N18.40 in February 2026 but has since cooled down to around N15.20 in March.
Despite the price dip, the volume of trading remains high, with over 152 million shares already exchanged this year, proving that investors still have a strong appetite for the stock.
AXA Mansard holds total assets of N228.2 billion and anticipates N31.2 billion in cash and bank balances by mid-2026.
The company’s cautious profit forecast shows higher costs of claims and reinsurance, while the double-digit revenue growth reveals a positive outlook for the insurance group.
