Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
The figures, released in a filing at Companies House, showed gross written premium grew by 19% in the year to £2.75bn.
As reported by sister title Post, the insurer recorded an underwriting loss of £103m in 2023. This was an improvement on the deficit of £195m in 2022.
A £213m net investment profit pushed the insurer into the black with a pre-tax profit of £63m. This was £25m better than the year before.
CommercialAccording to the document, retail GWP – defined as property, motor, travel and other
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