Bulletin from Bordeaux: Axa targeting 96% COR

Resisting a bribe

Denis Duverne, deputy chief executive officer at Axa, has revealed that the insurer is looking to cut €1.5bn (£1.35bn) from its cost base by 2015 and targeting a group combined operating ratio (COR) of 96% or better in property and casualty (P&C) insurance.

He told a meeting of delegates in Bordeaux that efficiency savings of €1.1bn in all areas of business combined with reducing distribution expenses in property and casualty insurance by €400m would allow the company “to contain our cost base

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: