AXA Mansard Insurance Plc shareholders have retained three Non-Executive Directors and approved Ernst & Young as the company’s external auditor for its financial reporting, reinforcing the insurer’s board and audit arrangements for the coming financial year.
The decisions were taken at the company’s 34th Annual General Meeting held virtually on 9 October, 2026, according to resolutions signed by Company Secretary, Omowunmi Mabel Adewusi.
Shareholders approved the re-election of Kola Adesina, Gbola Akinola, SAN, and Tope Adeniyi as Non-Executive Directors.
They also approved the appointment of Ernst & Young as external auditor and authorised the board to determine the audit firm’s remuneration and expenses on the recommendation of the audit committee.
The decisions come as investors increasingly look to corporate governance, financial reporting and board oversight when assessing companies listed on the Nigerian Exchange.
The external auditor is responsible for independently examining the company’s financial statements and expressing an opinion on whether they present a fair view of its financial position and performance in accordance with the applicable reporting framework.
Shareholders also approved the composition of the statutory audit committee for 2026. The committee will comprise Adebisi Bakare, Henry Akwara and Dayo Afelomo of WSTC Financial Services Limited as shareholder representatives, alongside Abiola Bada and Dan Shuaib as Independent Non-Executive Director representatives of the board.
The meeting further approved annual remuneration of N2.5m for the Chairman and N1.5m for each Non-Executive Director for the 2026 financial year and subsequent years until reviewed at an annual general meeting.
In a separate resolution, shareholders approved a proposal authorising the company to issue new ordinary shares through a rights issue, subject to regulatory approvals. The board will determine the final terms of the transaction.
Shareholders also received the company’s audited financial statements for the year ended 31 December, 2025, together with the reports of the directors, external auditor and audit committee.
The resolutions set out the governance and financial reporting arrangements approved by shareholders at the meeting.