Axa's UK commercial motor revenues jump by 21%
Axa’s results for Q1 2011 have shown a 2% drop in total revenues to €28bn (£25.2bn) from the same period last year.
Property and casualty (P&C) was up 2% to €9.838m, while personal lines P&C, which makes up 57% of total P&C revenues, increased by 4% in total.
Overall general insurance revenue for the UK was €916m.
Commercial motor revenues shot up by 21% in the UK but this was offset overall by Mexico (-15%) and the Gulf region (-49%) due to the cancellation of an unprofitable large fleet contract.
Total direct P&C rose by 8% and the insurer attributed this to tariff increases in the UK. Overall P&C revenues
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