AXA’s UK and Ireland general insurance business posted IFRS revenues of €916m in the first quarter of 2011, up 6% on the €862m it made in the same period last year.
The company put through general insurance rate increases of 10.4% in personal lines during the quarter and 2.2% in commercial lines, resulting in overall average rate increases across UK and Ireland general insurance of 6.8%.
The company also reported changes to its UK and Ireland general insurance business mix as rate increases and re-underwriting took hold.
Personal motor now makes up 16% of gross general insurance revenues, an increase of 13% over the same period last year, while the contribution of personal non-motor business to UK revenues fell 4% to 38%.
AXA attributed the decline in personal non-motor revenues to selective underwriting and lower sums insured, which more than offset rate increases.
Commercial motor’s contribution increased 21% to 8% of revenues, while commercial non-motor’s contribution increased by 2% to 40% of revenues.
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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