Axa's UK personal motor revenues up 35% in first nine months 2010
Property & casualty revenues in the first nine months of 2010 were up 0.7% to €21.4bn across the group at Axa. The UK & Ireland saw a 1.4% increase compared to the same period of 2009 to €3.2bn.
The insurer stated that personal motor revenues, 36% of total P&C revenues, were up 5% mainly driven by a 35% increase in the UK. The company claimed this came on the back of strong tariff increases and higher volumes mostly as a result of the success of both Swiftcover and Axa branded direct businesses.
Personal non-motor revenues, which account for a quarter of total P&C revenues, increased by 3%.
In a statement Axa added that commercial lines were down 3.8% as the 2% average price increase was
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