Speaking at the inaugural AXA Mansard Sustainability Symposium held in Lagos, the company’s Chief Executive Officer, Kunle Ahmed, stressed the need for businesses to shift from merely managing risks to actively building resilience by embedding environmental and social sustainability into their core operations.
The appeal comes as West Africa continues to confront severe climate challenges. According to data from the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA), about 6.9 million people across West and Central Africa were affected by flooding in 2024, with Nigeria accounting for roughly 1.3 million of those impacted. Lagos remains particularly vulnerable, experiencing annual flooding that disrupts livelihoods and economic activity.
“These figures are more than statistics; they represent families, communities, and businesses. Climate risk is fundamentally a business risk,” Ahmed stated.
Demonstrating its own commitment to sustainability, AXA Mansard disclosed that it had assessed over ₦14.5 billion worth of assets for climate-related vulnerabilities over the past three years. The company also recorded notable sustainability achievements—petrol emissions reduced by 46%, electricity emissions by 34%, diesel emissions by 12%, and water consumption by 39%. Additionally, its employees contributed over 30,000 volunteer hours, positively impacting more than 10,000 lives.
“Sustainability is not just a catchphrase; it’s the foundation of our ongoing service to Nigeria,” Ahmed said.
As part of its climate resilience agenda, AXA Mansard has partnered with the Insurance Development Forum, UNDP, AXA Climate, and Swiss Re to launch a satellite-triggered parametric flood insurance product for Lagos State. The initiative provides rapid payouts of up to US$7.5 million, protecting an estimated four million residents from catastrophic flood losses.
“This initiative highlights how insurance can bridge protection gaps and bolster community resilience,” Ahmed explained.
He further urged Nigerian businesses to treat sustainability not as a cost but as a strategic advantage. Citing the AXA Future Risks Report 2025, which lists climate change among the top three global business threats, Ahmed noted that sustainable practices can help companies reduce operational risks, protect cash flow, attract investment, and unlock new market opportunities.
“Doing the right thing is also good business,” he remarked.
Ahmed reaffirmed AXA Mansard’s commitment to supporting clients in building a low-carbon, inclusive economy. “Nigeria has immense potential to develop a green economy. With your partnership and our expertise, we can turn risks into resilience and create shared value for all,” he concluded.