AXA Group reports decline in UK earnings
AXA Group has reported a decline in underlying global earnings of 6%, with €3,854m having been made in 2009.
Adjusted earnings are also down, by 18%, to €3,468m, but net income has increased hugely, rising by 283% to €3,606m.
In the UK & Ireland underlying earnings slumped by 18% from £288m to £235m, with a combination of the economic and weather conditions being blamed for the decline.
AXA UK Group Chief Executive Nicolas Moreau has explained that over the course of the last year the firm has sought to emphasise its operational efficiency and profitable growth, citing Swiftcover as an example of this successfully occurring.
Earlier this month the firm launched AXA Car Insurance to complement Swiftcover.
AXA Car Insurance focuses upon the needs of the UK’s 9m experienced drivers, with Swiftcover performing strongly in catering to younger drivers online.
Moreau went on to say that the firm was committed to giving clients and advisers the best possible service, adding that he was pleased the firm had won a number of awards in this field.
Category: Axa Insurance News, Financials, Insurance News
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