Direct motor business falls 3% after a decline in UK sales
AXA’s UK and Ireland non-life operations increased personal lines rates 4.9% in the first nine months of 2012.
The company also revealed in its nine-month interim update that it had put up UK and Ireland commercial rates 4% for renewal business over the same period.
UK and Ireland non-life business generated €3.15bn (£2.54bn) of revenues in the first nine months of 2012, up 5% on the €2.82bn it brought in over the same period last year. AXA’s total non-life revenues increased 4% to €22.2bn (first nine months of 2011: €21bn).
Direct non-life business revenues remained flat at €1.6bn. Direct personal motor revenues fell 3%, which AXA said was mainly driven by lower sales in the UK due to portfolio cleansing in the first quarter of 2012.
Personal non-motor revenues increased by 5%, driven by a 6% increase in UK and Ireland business. Direct personal lines non-motor business revenues increased 19%.
Commercial motor business revenues increased 10%, mainly driven by a 23% revenue rise in Mexico and a 14% increase in the UK.
Commercial non-motor revenues were up 3%, driven by 7% growth in UK and Ireland business.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet