Axa's figures for the first half of this year show the contribution made to net income by property and casualty insurance is down by 14.1% at £195m, compared with the first half of 1999.
The UK's contribution fell by £31m. This was due to an increase of £39m in reserves – £28m for motor insurance and £11m for third-party liability.
These increases in reserves result from a deterioration in claims experience and higher costs for bodily injury claims in the British market. Guardian's offer of “free” insurance with new cars is a major factor for this.
Another cost was the alignment of claims management processes, following the merger of Axa and GRE.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
