Axa uk & ireland has delivered an improved combined operating ratio of 98. 7% in property and casualty business regarding the first six months of 2013.
The insurer attributed the amendment to firmly disciplined underwriting as revenues during this sector remained flat at £2bn.
axa stated so it had seen robust growth of 11% in uk business lines which higher volumes, along side rating action and efficiency improvements, had restored underwriting profitability.
This, along with the profit of additional benign weather conditions than seen last year, contributed in the 2. 3-point cor improvement coming from the 101% delivered in the very first half 2012, axa asserted.
Motor growth
Additionally it reported that uk motor insurance had grown by 4% and admitted so it had undertaken portfolio pruning in non-core segments as to the personal lines portfolio.
Axa stated that underlying earnings across the portfolio, that conjointly included the likes of axa wealth and healthcare business, were up 33% to firmly £89m regarding the first six months of 2013.
The corporate didn't insure the profit figure or any details by lines of business.
In spite of this the cluster axa results from paris, calculated beneath a special accounting structure, revealed that personal motor contributed 13% of gross revenues in the uks p&c total revenues whereas personal non-motor accounted for 35%.
The figures that do conjointly contain the impact of rounding in the nearest whole range, conjointly showed that business non-motor came in at 10% and business non-motor at 44%.
Competitive markets
Paul evans, uk and ireland cluster chief govt same : i'm terribly pleased when using the results that now we have reported regarding the first half this year, significantly given the challenging economic conditions and extremely competitive markets among that our businesses operate.
He added : in 2010 axa uk launched a business transformation so you can reposition our providing to firmly higher serve the desires of each our customers and brokers while improving the price efficiency in our operations.
He added : these changes are currently delivering stronger results for our particular customers, brokers and shareholders, and that i am confident that we both are well positioned to firmly continue building for this success within the whole years to firmly come back.
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