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.
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