French insurance group AXA aims to report a non-life combined ratio of 96% in 2015, according to its five-year strategic plan, released today.
The insurer is aiming for a current-year combined ratio (excluding the effects of reserve releases or strengthening from prior years) of 100% in 2011 and below 97% for 2015.
As part of this, AXA aims to reduce its “enlarged” expense ratio by 4 points, mainly by cutting €1bn (£872m) of costs in “mature markets”.
The €1bn cost cutting in the non-life business makes up two thirds of the group-wide ambition to shave €1.5bn from its cost base by 2013. It is aiming to cut €800m of costs by 2013.
AXA has also set a group -wide target of achieving 10% annual growth in earnings per share. by 2015.
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.
No comments yet