Axa UK's earnings drop
Axa's UK business has seen a £27m fall in adjusted earnings to £72m in 2003, although globally the A...
Axa's UK business has seen a £27m fall in adjusted earnings to £72m in 2003, although globally the Axa Group reported a strong performance last year with adjusted earnings up 7% to EUR1.4bn (£934m).
The net combined ratio for Axa UK property and casualty advanced strongly to 100.5%, from 106.4% in 2002 and is expected to be reduced to about 100% this year, according to Peter Hubbard, chief executive, Axa Insurance.
Good progress was achieved in general insurance activities with an improvement
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