Axa grew UK and Ireland revenue 4% in 2022 but COR deteriorated to over 100%
Axa has posted €3.74bn (£3.3bn) of revenue in the UK and Ireland for 2022, up 4% from the previous year on a comparable basis, with growth in both commercial and personal lines.
However, the combined operating ratio for property and casualty business worsened from 95.6% in 2021 to 100.1%.
P&C insurance underlying earnings after tax dropped to €222m from €254m.
The revenue total was made up €1.96bn in personal lines, up 2% year-on-year, and €1.78bn in commercial business which was 6% higher than in 2021.
Related Axa UK & Ireland P&C revenue rises as COR improves in 2021The provider’s revenue in the region increased overall in the past 12 months as
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