Axa Mansard Insurance Plc · NSENG:MANSARD
Axa Mansard Insurance — FY2022 Earnings Presentation
23 slides from Axa Mansard Insurance's earnings presentation, April 2023
Slide 1: Summary of Financial Performance
Summary of Financial Performance AXA Mansard Insurance PLC April-2023 1
Slide 2: Know You Can
Know You Can 2
Slide 3: Contents
Contents OUTLINE– FY 2022 REVIEW 1. Macro-economic and Industry Review of FY 22 P.05 2. Business Overview P.08 3. FY 22 Financial Performance Review P.12 4. Digital Business Performance P.20 5. Initiatives P.22 3
Slide 4: Macro Economic and Industry Review
Macro Economic and Industry Review
Slide 5: Macroeconomic Highlights
Macroeconomic Highlights GDP Growth Rate (%) 5.01 • The Nigerian GDP grew by 3.10% year on year in 2022, compared to 3.40% in 2021. 4.03 3.98 • While real GDP grew by 3.52% in Q4 2022, it saw a 46bps decline (3.98% - Q4 2021), 3.54 3.52 3.11 indicating lower economic activity than in the previous ye
Slide 6: Insurance Market Conditions
Insurance Market Conditions Non-Life & Life Health • As of December 2021, the insurance industry was • AXA Mansard is currently one of the biggest players made up of 63 players comprising 27 Non-Life within the Health sector, driving AXA Mansard’s Insurers, 14 Life insurers, 12 Composite insurers, 6
Slide 7: Business Overview
Business Overview
Slide 8: AXA Mansard Shareholders
AXA Mansard Shareholders • A non-bank financial service company • A member of the AXA Group (the worldwide leader in insurance and asset AXA Group 9 billion management) 17% Institutional Shares Investors Business segments 7% Others 6,200+ • Life & Savings • Asset Management Shareholders • Property &
Slide 9: Financial Performance and Asset Management Highlights
Financial Performance Asset Management ₦68.9Bn ↑15% ₦33.1Bn ↑36% ₦8.1Bn ↓12% ₦3.3Bn ↓ 42% ₦127 billion GWP Net Claims Paid Underwriting Profit PBT Total AUMs +8% vs 2021 ₦1.1B Gross Revenue ₦28.9Bn ↓4% 12% ↓ 39% ₦106.2Bn ↑2% 10.38% average yield 10.37% 2022 return SHF ROE Total Asset Money Market Fu
Slide 10: Push Boundaries, Grow your potential
Push Boundaries Grow your potential
Slide 11: FY 22 Financial Performance
FY 22 Financial Performance
Slide 12: Group Financial Performance - 2022 Snapshot
Group Financial Performance - 2022 Snapshot FY’22 FY’21 Highlights • Gross written premium improved 15% YoY, driven by growth Gross Written within the health (22%) and life (49%) lines of business. 69.0 bn 60.2 bn Premium • Gross premium earned improved 25% vs 2021 (69bn vs 56bn) while maintaining a
Slide 13: Gross written Premium
Gross written Premium Non-Life (₦’b) Life (₦'b) 28.3 27.4 13.8 20.0 20.0 18.2 9.2 17.0 7.9 13.8 7.5 4.7 3.5 3.6 CAGR= 12.1% CAGR= 25.7% 2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 2020 2021 2022 Health (₦'b) Highlights 27.7 • The Non-Life business saw a slight decline of 3% in premiums du
Slide 14: Group Expenses
Group Expenses Reinsurance & NPI (₦'000) 46,135 Highlights 37,142 • Reinsurance expenses is up by 25% YoY in line with growth in gross 31,716 premium income of ₦69.4m up from of ₦55.7m last year. The growth is 26,290 23,310 also consistent with the increase in polices and risk the group underwrote 1
Slide 15: Group Expenses
Group Expenses Highlights YoY Details FY'2022 FY'2021 Change • OPEX growth of 15% was below headline inflation which closed at ₦'000 ₦'000 % 21.8% in December 2022. Operating expenses were significantly Employee Benefit Expense 4,899,730 3,730,129 31% impacted by increased employee benefit expenses w
Slide 16: Group Financial Position - 2022 Snapshot
Group Financial Position - 2022 Snapshot Reinsurance Asset Total Asset Highlights • The group closed the 2022 financial year with a 2% growth in balance sheet size at ₦12bn - 7%↑ ₦106.2bn - 2%↑ ₦106.2bn up from ₦104bn last year. (₦11.2bn - 2021) (104.1bn - 2021) Reinsurance asset also grew by 7% ind
Slide 17: Company Financial Position - 2022 Snapshot
Company Financial Position - 2022 Snapshot Reinsurance Asset Total Asset Highlights • Total assets grew by 5% to ₦80.9bn up from ₦77bn last year largely driven by 13% ₦11.8bn - 9%↑ ₦80.8bn - 5%↑ growth in financial assets. (₦10.9bn - 2021) (₦77b - 2021) • Reinsurance assets also up by 9% indicating
Slide 18: Insurance Revenue Generation And Underwriting Performance
Insurance Revenue Generation And Underwriting Performance • Non-Life: The Oil and Energy, fire and motor product lines were the top 3 contributors to the Non-Life GWP at 54%, 15% and 10%, respectively. While total GWP declined YoY owing to the timing of booking of key business, the non-life business
Slide 19: Digital Business Performance
Digital Business Performance
Slide 20: Digital Performance Dashboard
Digital Performance Dashboard FY Performance FY 2022 vs FY 2021 AXA Direct (Digital, EC, CR AXA Direct GR DP) ₦2.28B 56% 5.06bn ₦2.32b 5% 4.06bn AXA Direct (Digital, EC, ₦2.32b CR GR DP, Retail 46% Insurance ₦1.36bn Inclusion) Transaction Count 86k 32% 5.06bn Processed CR Savings & GR Bank Transfer
Slide 21: Initiatives
Initiatives
Slide 22: AXA on Sustainability
AXA on Sustainability 2022 Sustainability Initiatives AXA Climate AXA Roots Leadership & AXA Waste Academy Movement Awareness Recycle • In 2022, our staff • In partnership with the • We demonstrated • As part of our members attended the Lagos State government, industry leadership by commitment to ad
Slide 23: Thank you
Thank you 23