Nine-month revenues up 1%
AXA’s UK and Ireland non-life operations increased personal lines rates 9.9% in the first nine months of 2011.
The company also revealed in its nine month activity indicators that it had put up UK and Ireland commercial rates 4.4% over the same period, although this figure only refers to new business. The company did not reveal the overall rate movement for commercial business.
UK and Ireland non-life business generated €2.82bn (£2.45bn) of revenues in the first nine months of 2011, up 1% on the €2.79bn it brought in over the same period last year. AXA’s total non-life revenues increased 4% to €21.1bn (first nine months of 2010: €20.3bn).
Direct non-life business revenues increased 10% to €1.6bn from €1.5bn. Direct personal motor revenues were up 8%, which AXA said was mainly driven by UK rate increases, as well as strong growth in Italy, France and Poland. Direct personal lines non-motor business revenues increased 31%, which was also driven mainly by UK business.
Commercial motor business revenues increased 4%, mainly driven by a 17% revenue rise in Mexico and a 14% uplift in the UK.
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.
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