The Management and Board of Axa Mansard Insurance Plc have notified the Nigerian Stock Exchange (NSE) and the general public of the resignation of Frederic Flejou, a Non-Executive Director from its company’s board.
Flejou’s resignation took effect from November 30, 2018.
Flejou has served as Non-Executive Director of AXA Mansard Insurance plc since December 31, 2014. Frederic is the chairman of the Board, Investment and Finance Committee, and Member of the Board Governance, Remuneration, Establishment and General Purpose Committee of the Company.
About the company
AXA Mansard was incorporated on 23 June 1989 as a private limited liability company called “Heritage Assurance Limited” and was issued a composite insurance license by the National Insurance Commission (NAICOM) in March 2004.
The company’s name was changed to Guaranty Trust Assurance Limited in September 2004, following the acquisition of a majority shareholding by Guaranty Trust Bank Plc, and changed again to Guaranty Trust Assurance Plc in March 2006.
AXA Mansard functions as a multi-expert asset management company within the AXA Mansard Group, a leader in financial protection and wealth management. The company is duly registered by the Securities and Exchange Commission of Nigeria (SEC) as Fund/Portfolio Managers.
In November 2009, the company was listed on the Nigerian Stock Exchange. Guaranty Trust Bank divested from the firm in 2012, following CBN guidelines for banks to either divest from non-banking subsidiaries or form holding companies. Mansard was then bought by Assur Africa Holdings.
Results for the period ended June 2018 show gross premium written increased from N17.9 billion in 2017 to N23.5 billion in 2018. Profit before tax, however, dropped from N2.3 billion in 2017 to N1.8 billion in 2018. Profit after tax also dropped from N2.1 billion in 2017 to N1.5 billion in 2018.
AXA Mansard is currently trading at N2.00 during trading session on the floor of the Nigerian Stock Exchange