Axa Insurance has seen the size of its personal lines business overtake its commercial lines portfolio on the back of Swiftcover's growth and shedding the unprofitable parts of its small and medium-sized enterprise (SME) book.
While the commercial arm's gross written premium fell by £61m to £1.04bn, its personal lines business rose from £1.08bn to £1.1bn, which includes a £47m improvement in household revenues and a 49% increase in Swiftcover policies to 522,000.
Axa Insurance chief executive Phil
- One Broker buys Gibbs Denley Insurance Services
- Gadget insurance aggregator launched
- Tasker Insurance names Robert Organ as new CEO
- Profits soar at Bollington in 2016
- Bennett Christmas buys Horsham-based Slade Edwards Insurance
- UK businesses “unprepared for a cyber shock”
- In-depth - Personal lines: The omni-channel future