Axa reveals 1% growth in UK P&C business

For the group overall P&C revenue increased 3% to €21.09bn from €20.29bn in the previous year. Personal lines revenues, 60% of total P&C revenue, increased 4% whereas commercial lines revenues were only up 2%.

The group's total revenues slipped 2% to €66bn.

The insurer noted that personal motor revenues increased by 4% including an 8% rise in direct revenue being driven mainly by UK rate increases.

For non-personal motor, the UK again contributed notably to a 31% rise in direct business