Axa swings back to UK underwriting profits in 2024
Axa Insurance UK returned to underwriting profit in 2024 with a £45m result, reversing a £103m deficit in 2023.
Account filings from the insurer showed the performance helped boost pre-tax profit to £141m from £63m the year before.
The underwriting improvement more than outweighed the year-on-year dip in investment returns which fell by £47m to £166m.
In keeping with the previous result, the combined operating ratio was trimmed again, by 5.2%, to 101.1%, having been as high as 109.8% in 2022.
GWPThe numbers released in a report at Companies House came as gross written premium was flat at £2.73bn (2023: £2
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