AXA Mansard Insurance Plc and Subsidiary Companies
Annual Report 31 December 2022
AXA Mansard Insurance Plc and Subsidiary Companies
Annual Report
31 December 2022
Introduction
AXA Mansard Insurance is a Nigerian financial service group with interests in insurance, asset and investment management, health insurance and property development. AXA Mansard Group comprises AXA Mansard Insurance Plc. and three subsidiaries all operating in Nigeria.
AXA Mansard Insurance Plc’s Financial Statements comply with the applicable legal requirements of the Companies and Allied Matters Act (CAMA), 2020 regarding financial statements and comprises Consolidated and Separate Financial Statements of the group for the year ended 31 December 2022. The consolidated and separate financial statements have been prepared in accordance with the IFRS Standards.
AXA Mansard Insurance Plc and Subsidiary Companies
Annual Report
31 December 2022
Contents
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Page |
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Business Review: |
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Corporate information |
5 |
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Corporate addresses |
6 |
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Vision, Mission and Values |
8 |
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2022 Corporate social responsibility initiatives |
9 |
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Sustainability report |
12 |
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Corporate Governance: |
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Corporate governance report |
14 |
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Internal Control and Risk Management Systems |
21 |
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Management discussion and analysis |
27 |
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Director’s Report |
28 |
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Statement of Directors’ Responsibilities |
32 |
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Statement of Corporate Responsibility |
33 |
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Report of the Audit and Compliance Committee |
34 |
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Independent Auditor’s Report |
35 |
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Financial Statements: |
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Consolidated Statement of Financial Position |
40 |
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Consolidated Statement of Comprehensive Income |
41 |
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Consolidated Statements of Changes in Equity |
42 |
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Consolidated Statement of Cash Flows |
46 |
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Notes to the financial statements |
47 |
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Other national disclosures: |
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Five Year Financial Highlights |
143 |
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Value Added Statement |
145 |
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General Business Revenue Account |
146 |
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Life Business Revenue Account |
147 |
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Annuity disclosures |
148 |
AXA Mansard Insurance Plc and Subsidiary Companies
AXA Mansard Insurance Plc and Subsidiary Companies
Annual Report
31 December 2022
Corporate information
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Chairman |
Mr. Olusola Adeeyo |
Chairman |
Nigerian |
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Directors |
Mr. Kunle Ahmed |
Chief Executive Officer |
Nigerian |
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Mr. Hassan El-Shabrawishi |
Non Executive Director |
Egyptian |
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Mr. Tope Adeniyi |
Non Executive Director |
Nigerian |
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Mrs. Rashidat Adebisi |
Executive Director |
Nigerian |
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Mr. John Dickson |
Non Executive Director |
British |
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Mr. Thomas Hude |
Non Executive Director |
French |
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Ms. Latifa Said |
Non Executive Director |
French |
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Ms. Abiola Bada |
Independent Director |
Nigerian |
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Registered Office |
Santa Clara Court |
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Plot 1412, Ahmadu Bello Way |
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Victoria Island Lagos |
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www.axamansard.com |
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Company Secretary |
Mrs. Omowunmi Mabel Adewusi |
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RC No. |
133276 |
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FRC Reg. No. |
FRC/2012/0000000000228 |
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Auditors |
KPMG Professional Services |
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KPMG Tower |
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Bishop Aboyade Cole Street, |
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Victoria Island, Lagos |
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Tel: (01) 2718955 |
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www.kpmg.com/ng |
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Bankers |
Guaranty Trust Bank Plc |
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Standard Chartered Bank Nigeria Limited |
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First City Monument Bank Limited |
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Stanbic IBTC Bank Plc |
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Access Bank Plc |
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Citibank Nigeria Limited |
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Ecobank Nigeria Plc |
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Fidelity Bank Plc |
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Heritage Bank Limited |
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Union Bank of Nigeria Plc |
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United Bank of Africa Plc |
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Re-insurers |
African Reinsurance Corporation |
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Continental Reinsurance Plc. |
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Swiss Re |
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Munich Reinsurance Company Limited |
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Actuaries |
Zamara Consulting Actuaries Nigeria Limited |
Nikhil Dodhia |
FRC No: FRC/2021/004/00000024023 |
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QED Actuaries & Cons. (Pty) Ltd |
C Van Heerden |
FRC No: FRC/2018/NAS/00000018470 |
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AXA Mansard |
Ganiu Shefiu |
FRC No: FRC/2017/NAS00000017548 |
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Valuers |
Osas & Oseji Est. Surv. & Valuers |
Osas & Oseji |
FRC No: FRC/2012/000000000052 |
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Osas & Oseji Est. Surv. & Valuers |
Hyacinth Oseji |
FRC No: FRC/2019/004/000000/20162 |
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Registrar |
DataMax Registrars Limited |
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Disclaimer
AXA Mansard Insurance plc published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 18:49:19 UTC.
Publicnow 2023
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Income Statement Evolution
