Axa UK optimistic following 2011 results
Axa UK has reported a combined operating ratio of 98.9% for 2011, an improvement of 6.4% on 2010.
The combined ratio for the insurer’s personal motor arm was slightly worse at 101.7%, which it attributed to the impact of “increasing levels of personal injury claims inflation, in particular, whiplash claims”.
UK and Ireland general insurance revenues were up by 4% between 2010 and 2011, standing at £3.8bn for the year ended December 2011.
The insurer also reported that it had reversed an underlying earnings loss of £33m in 2010 to a profit of £133m in 2011.
Paul Evans, Axa UK and Ireland
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