Axa COR breaks 100% in UK & Ireland

The group has previously targeted a 96% COR or better by 2015.

The provider did not reveal a breakdown by personal lines or commercial and attributed the rising COR to the increased cost of flooding and other storm damage claims during 2012, "offsetting underlying improvements elsewhere".

In the 12-month period general insurance revenues increased by 2% to £3.8bn at the insurer with the broker channel performing best with a 5% growth in sales.

Axa highlighted that growth in sales of

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