AXA puts significant price increases on commercial renewals

AXA today revealed it put prices increases on UK commercial general insurance renewals by 5.1% in the past 12 months.

The increases on UK commercial, largely made up of broking business, is by far the most in its global business, with next biggest increase of 2.7% in Spain.

In personal lines, AXA pushed up rates 3.9% on its UK general insurance book compared to the first quarter last year.

Revenue increases 

The rate increases helped AXA boost UK revenues 2%, and it was commercial motor which fuelled the growth. 

AXA’s revenues jumped significantly in UK commercial motor, increasing 7% to €173m.

Commercial non-motor also increased a fair amount - up 5% to €214m. 

“AXA has delivered a strong operating performance in the first quarter of 2018”, said deputy chief executive Gérald Harlin said.

“We are growing our topline, with a continued focus on profitability and shift towards preferred segments, in line with our Ambition 2020.”