Axa Mansard Insurance Plc has notified the investing public of delay in filing and publishing of its audited financial statements for the year ended December 31, 2023 and the unaudited financial statements (UFS) for the first quarter (Q1) ending March 31, 2024.
The company said it may be unable to file its audited financial statements (AFS) for the year ended December 31, 2023, and the unaudited financial statements for the quarter ending March 31, 2024 within the regulatory due dates of March 30, 2024 and April 30, 2024 respectively, as required by the Rules of the Nigerian Exchange Limited (NGX) and the Consolidated Rules of the Securities and Exchange Commission (SEC).
“This is because of unforeseen delays in concluding the approval process within the stipulated time, particularly with the introduction of the IFRS 17 Accounting Standards which require several changes in the disclosure methods.
“The National Insurance Commission (NAICOM) has obtained, on behalf of insurance companies a general approval for an extension of the time for submission of the accounts,” Axa Mansard Insurance said.
The Company assured that it is making great efforts to ensure that this exercise is expedited so that the audited financial statements for the year ended December 31, 2023 and unaudited financial statements for the quarter ending March 31, 2024 are filed not later May 30, 2024.
“AXA Mansard Insurance Plc sincerely regrets the inconveniences that this delay may cause its esteemed shareholders and the investing public,” the company said.
