Axa reveals 1% growth in UK P&C business
Axa’s results for the first nine months of 2011 have shown a small increase in UK property and casualty (P&C) revenue to €2.82bn (£2.47bn) from €2.79bn in the comparable period of 2010.
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
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