Right move, wrong time?
Axa’s ambition to grow in the current soft market is high risk but there may be some sound strategic reasons why it is trying, explains Tony Cornell
Amanda Blanc, chief executive at Axa Commercial UK, has set a bold vision for the business over the next four years. It aims to grow by 50% and achieve a combined operating ratio of 95% by 2015. This would probably move it back into the number three slot in the commercial retail market after slipping over the last few years to, at best, fifth. This ambition is ignoring any prospective hardening of the market. It requires an annual compound growth rate of 10% at a time when growth in the UK
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