Swiftcover success rejuvenates Axa's personal lines business

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