Capital

AXA Mansard Expects 161% Growth In Profit In Q4 2020

BY NKECHI NAECHE ESEZOBOR-AXA Mansard Insurance Plc on Wednesday announced to investing public and dealing members that it expects to surpass its profit projected in fourth quarter of 2019 by 161% to N7.599 at the end of Q4 2020 when compared to N2.908 billion in Q4 2019.

The insurer disclosed this when it released its forecast profit and loss accounts information for the fourth quarter (Q4) 2020 to the Nigerian Stock Exchange ( NSE) also forecast 10% growth in its gross premium written of N48.013 billion, over N43.620 billion in Q4 2019.

The notice further shows that cash/bank balances at the end of the Q4 2020 is expected to depreciate to N16.572 billion from N17.911 billion at the beginning of the period.

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