Commercial revenues are up, while the personal book has shrunk for AXA UK & Ireland
The net income of AXA UK & Ireland grew by 50% for 2018.
Results released today revealed a net income of €366 (£318m), compared to €243m (£211m) for 2017.
While personal lines revenues were down in both motor, down 1% to €1.21bn (£1.05bn), and non-motor down 8% to €589m (£512m), the commercial book saw impressive growth.
Commercial motor grew 9% to achieve gross premiums of €689m (£599m), while non-motor grew by to €885m (£770m), up 3%.
Overall commercial lines revenues were up 5.7% on last year, to €1.57bn (£1.37bn), with personal lines revenues down 1.1% to €1.80bn (£1.56bn).
As a group globally though personal lines revenues were up 0.5% to €16.1bn (£14.0bn), while the group’s commercial lines income was €19.1bn (£16.6bn) – growth of 4.7%.
However, the group’s net income took a hit, falling 66% from €6.21bn (£5.40bn) to €2.14bn (£1.86bn).
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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