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AXA Mansard holds virtual AGM, meets capital requirement one year in advance

AXA Mansard promotes motor insurance policy with cash, gift prices

AXA Mansard Insurance PLC, a member of the AXA Group and global leader in insurance and asset management during its 28th Annual General Meeting, restated the company’s strategy to focus on the growth and profitability of its insurance business for the ultimate benefit of its shareholders and other stakeholders.

The Annual General Meeting which was held by Proxy on Wednesday, July 29, 2020 at Lagos Oriental Hotel, Victoria Island, Lagos, had only 20 people physically present in accordance with the Covid-19 guidelines and was live-streamed to other shareholders, Regulators and stakeholders. Present at the meeting was the company’s Chairman Mr. Olusola Adeeyo, the Chief Executive Officer, Mr. Kunle Ahmed and the Company Secretary Mrs. Omowunmi Adewusi.

AXA Mansard in the financial year ended 31 December 2019 recorded a profit after tax growth of 17% while the shareholders’ funds for the group grew by 21%. Responding to the shareholders at the meeting, Mr. Kunle Ahmed, the Chief Executive Officer, AXA Mansard Insurance, stated that “We have been proactive in putting key initiatives in place focused on identifying new growth areas in our markets, strengthening our partnerships and refining our distribution strategy. This has paid off as we grew revenues by 29% despite the challenging operating environment. Our long-term commitment to serving our numerous customers is also evident by the fact that we have already met the first phase of the new capital requirement, one year ahead of the December 2020 deadline fixed by NAICOM.

The Chairman of the company, Mr Olusola Adeeyo transacted the ordinary business which included the election of Directors, approval of the remuneration of Directors, and election of members of the statutory audit committee.

AXA Mansard is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). The Company offers life and non-life insurance products and services to individuals and institutions across Nigeria whilst also offering asset/investment management services, health insurance solutions and pension fund administration through its three subsidiaries – AXA Mansard Investments Limited, AXA Mansard Health Limited and AXA Mansard Pensions Limited respectively. The parent company was listed on the Nigeria Stock Exchange in November 2009.