Axa reports strong growth

Axa UK reported strong growth in underlying earnings for the first half of 2005. In the UK and Ireland, underlying earnings of £118m for the first half of 2005 were 19% ahead of the first half of 2004 (£99m).

Total non-life revenues were flat at £1.56bn for the first half of 2005. The insurer said that this reflected rate softening in UK commercial lines and adverse developments in motor in Ireland offset by strong growth in UK personal lines (up by 9%) with property up by 16% and creditor up