AXA was buoyed by a 2.4% rise in rates across personal lines last year - and is expecting the market to harden further

AXA UK personal lines business grew revenues 5.8% - the best growth in the world. 

The UK book even beat fast growing Asia and International, which grew 4.8% last year.

AXA was buoyed by a 2.4% rise in rates across personal lines last year - and is expecting the market to harden further.

In its 2019 results, AXA said: ’UK motor market damage claims inflation expected to lead to rate increases. Hardening of rates is expected in the Northern Irish motor market.’

Commercial lines was lower, with 2.4% rate increases and 2.9% revenue growth. 

The UK contributed €1.9bn to a €16.6bn European personal lines business account. Commercial lines was €1.6bn to a €32bn account.

AXA UK reported an improved combined ratio in 2019 results. 

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