Contributors to income development outlined
AXA is the most recent to share the way it has carried out to date this 12 months.
In accordance with the insurer’s exercise indicators launch, listed here are the numbers for the primary 9 months of 2023 when it comes to gross written premium and different revenues:
|
GWP & different revenues
|
9M 2023
|
9M 2022
|
|---|---|---|
|
Property & casualty
|
€41.8 billion
|
€40 billion
|
|
Life & well being
|
€35.7 billion
|
€36.7 billion
|
|
Asset administration
|
€1.2 billion
|
€1.2 billion
|
|
Complete GWP & different revenues
|
€78.8 billion
|
€78 billion
|
Beneath the P&C section, industrial and private traces each noticed a rise in premiums whereas AXA XL reinsurance posted a decline. Life & well being, in the meantime, was dragged down by the well being enterprise following the non-renewal of two giant legacy worldwide group contracts in France.
Commenting on the figures, chief monetary officer Alban de Mailly Nesle stated: “AXA achieved one other superb efficiency within the first 9 months of 2023. Income development remained robust with good momentum in our technical and money generative traces and throughout our two industrial and private pillars.
“In P&C industrial traces, which is our largest enterprise, premiums have been up 9% benefiting from good buyer demand and disciplined pricing. In P&C private traces, we noticed continued repricing with general premiums now up 5%.”
The CFO added that AXA’s mannequin continues to ship robust capital era and that the corporate is on observe to realize its earnings outlook goal for 2023. On the finish of September, the insurer’s Solvency II ratio stood at 230%.
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