Contributors to income progress outlined
AXA is the most recent to share the way it has carried out to this point this yr.
In keeping with the insurer’s exercise indicators launch, listed below 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
|
Underneath the P&C phase, business 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 massive legacy worldwide group contracts in France.
Commenting on the figures, chief monetary officer Alban de Mailly Nesle stated: “AXA achieved one other excellent efficiency within the first 9 months of 2023. Income progress remained sturdy with good momentum in our technical and money generative traces and throughout our two business and private pillars.
“In P&C business traces, which is our largest enterprise, premiums had been up 9% benefiting from good buyer demand and disciplined pricing. In P&C private traces, we noticed continued repricing with total premiums now up 5%.”
The CFO added that AXA’s mannequin continues to ship sturdy capital era and that the corporate is on monitor 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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