Axa COR sneaks above 100%

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Axa attributed the slight deterioration to the recent floods. which it estimated had added £36m in claims in June and July.

Revenues across P&C were up 5% with Axa Insurance commercial lines and personal intermediary reporting an 8% rise. Axa PPP also grew by 6%.

Overall, UK & Ireland P&C revenues increased 1% to £2bn which the insurer claimed reflected its actions to reduce the risk profile of its direct motor portfolio.

Underlying earnings for the first six months of 2012 were up 27% to £66m

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