AXA reports increased P&C revenues in 2008 Q1

By David on May 7, 2008 3:54 PM | Permalink | Comments (0)

AXA reported its 2008 Q1 property and casualty revenues increased by 2% to EUR8.885 million (Cdn$13.74 billion), up from EUR8.625 billion (Cdn$13.33 billion) in 2007 Q1.
"This solid performance resulted from positive new business volumes with personal motor and household net new contracts reaching 246,000 and 17,000 contracts, respectively, as well as prices holding up well across the board," the company noted in a press release.

Most of the growth in motor revenues happened in the Mediterranean and Gulf Regions, with growth in motor revenue in Turkey reaching 16%.
In Canada, AXA reported 2008 Q1 revenues of EUR232 million (Cdn$358.6 million), a 4.4% increase on a comparable basis from its 2007 Q1 result of EUR217 million (Cdn$335.5 million).
Globally, the company noted its growth in France was up 3%, growth in the Mediterranean Region was up 8%, and growth in Asia reached 16%.
This growth "was partly offset by a flat contribution from the United Kingdom and decreases in Switzerland and Germany (both down 1%)," the company noted in a press release.
Overall, Axa's personal lines business, representing 57% of the company's property and casualty premiums, was up 2%.
Commercial lines business, representing 41% of P&C premiums, was also up 2%.