Tag: AXA Mansard Plc

AXA Mansard announces Director’s resignation.

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Mr. Ohis Ohiwerei, an Independent   Non-Executive Director of AXA Mansard Insurance Plc, has resigned from the company’s board, effective from August 31, 2021.

This was announced via a notice signed by the company’s secretary, Omowunmi Mabel Adewusi, and made available on the website of the Nigerian Exchange Limited (NGX).

The Board seized the opportunity to express their appreciation to Mr. Ohiwerei for his leadership and overall contribution to Company’s growth during his tenure on the Board, an indication that his resignation was unanimously accepted and approved by the Board.

In addition, the company also stated that it is currently awaiting the approval of the regulators to announce his replacement.

About Mr. Ohis Ohiwerei

Mr. Ohis Ohiwerei was appointed into the Board of AXA Mansard Insurance Plc as Independent Non-Executive Director, since August, 2016. He also serves in the Board of other notable companies like Notore Chemical Industries Limited, and Orange One Finance Limited, among others.

He has over twenty three years’ experience in the banking industry, having worked in Guaranty Trust Holding Company (formerly GTBank), from 1992 till 1998. He then joined Ecobank Plc in 1998 as Country Treasurer for Nigeria and a member of the regional treasury audit team till 2000 when he joined Diamond Bank Plc.

He served as Chief Financial Officer of Diamond Bank Plc and became Executive Director (Corporate Banking) of Diamond Bank Plc from 2005 till his retirement in 2010. While at Diamond Bank, he also served as the Chief Financial Officer and (Non-Executive) Director of ADIC Insurance Limited.

Ohiwerei holds a Bachelors’ degree in Engineering and Masters in Business Administration (MBA) from the prestigious University of Benin.

What you should know:

  • AXA Mansard Insurance Plc was incorporated on the 23rd of June, 1989 as a private limited liability company and was issued a composite insurance licence by the National Insurance Commission (NAICOM) in March 2004.
  • The company is duly registered by the Securities and Exchange Commission of Nigeria (SEC) and functions as a multi-expert asset management company within the AXA Mansard Group.
  • AXA Mansard Plc closed trading today 14th of September, 2021 with a share price of 83 kobo.

AXA Mansard Insurance obtains regulatory approval to reconstruct its shares.

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AXA Mansard Insurance Plc has obtained pre-requisite regulatory approvals to reconstruct its shares, from a nominal value of 50 kobo to N2 per share.

This is according to a disclosure signed by the company’s secretary, Mrs Omowunmi Mabel Adewusi, which partly reads: ‘’ Following the Extraordinary General Meeting of AXA Mansard Insurance Plc (“AXA Mansard” or the “Company”) held on Monday, 07 December 2020, the Company secured the approval of its shareholders for the share reconstruction / redenomination of AXA Mansard’s shares from a nominal share value of N0.50 to N2.00.’’

Buoyed by the support it got from its shareholders, the insurance giant further sought and obtained necessary regulatory approvals from the National Insurance Commission (NAICOM) on Monday, 19 July, 2021, and the Securities & Exchange Commission (SEC) on Monday, 16 August 2021, respectively.

Consequently, the shares of the company will be suspended from trading on the Nigerian Exchange Limited (NGX) on Thursday, 09 September 2021, so that the shareholders’ register can be updated with the reconstructed shares. Once this is concluded, the suspension will be lifted and trading on the shares shall recommence.

What you should know:

  • Share reconstruction is just a technical process of reducing the total number of a company’s outstanding shares, by cancelling out shares it does not need. The exercise will increase the nominal value of the company’s share, whilst retaining its market value.
  • AXA Mansard Insurance Plc closed trading on the 7th of September, 2021 with a share price of 88 kobo per share, and a total outstanding shares of 36,000,000,000

 

 

AXA Mansard Insurance projects profit of N4.4 billion in Q4 2021.

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AXA Mansard Insurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Net premium income is expected to hit N53.5 billion
  • Net claims expense projection of N24.3 billion.
  • Underwriting profit is expected to hit N11.97 billion.
  • Operating expenses projection of N9.21 billion
  • Tax is projected at N1.7 billion
  • Profit after tax is projected at N4.4 billion

See link to results.

AXA Mansard forecasts profit after tax of N4.42 billion in Q3 2021.

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AXA Mansard Insurance Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).

  • Net premium income is projected to hit N26.96 billion.
  • Net claims projection of N16.19 billion.
  • Underwriting profit is projected at N10.1 billion
  • An Operating expenses projection of N2.95 billion.
  • Tax is projected at N1.17 billion
  • Profit after tax is projected at N4.42 billion.

See link to forecasts.

AXA Mansard Plc projects profit before tax of N3.8 billion in Q2 2021

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AXA Mansard Insurance Plc has released its earnings forecasts for the second quarter of 2021.

  • Net Premium Income is projected at N18.43 billion.
  • Net claims are projected at N11.59 billion.
  • Underwriting profit is projected at N5.4 billion.
  • Profit before tax is projected at N3.82 billion.
  • Taxation is projected at N875.42 million.
  • Profit after tax is projected at N2.94 billion.

See link to forecasts.