• Core market performance drives resilient mid year financials for AXA

    August 3rd 2017. Posted in Corporate

    AXA Group this morning published its half year 2017 results, which are available at www.axa.com. AXA UK and Ireland announces a strong performance across its Commercial and Healthcare businesses.

    • Total P&C revenue growth of 5% to £2.4 billion
    • Commercial Lines business grew 7.5% to £690 million
    • Healthcare revenues up 6.7% to £885 million
    • Continued profitability with a COR of 97.7% (HY 2016: 98.2%)
    • Underlying earnings of £114m

    AXA Group this morning published its half year 2017 results, which are available at www.axa.com. AXA UK and Ireland announces a strong performance across its Commercial and Healthcare businesses.

    Amanda Blanc, Group CEO, AXA UK and Ireland commented:

    “The results we are able to announce today are an excellent indication of the resilience of our business. Strong performances in our core markets combined with improved underwriting profitability points to a business that is not only capable of managing market challenges but can thrive despite them.

    “We have performed particularly well in Commercial Lines and Healthcare in line with AXA Group’s strategic priorities. In Commercial, this has been driven by management of the discount rate impact, double digit growth in online SME and continued successful expansion into the Mid-Market space.

    “In Healthcare, the growth in our wellness and prevention support has accelerated our transformation from a payer of bills to a healthcare partner for our customers. Increasingly customers are using digital tools to manage their health and AXA is leading this charge with services such as Doctor@Hand providing online GP consultation and delivery of pharmaceuticals direct to the member.

    “In Personal Lines, we have seen a slower rate of growth but still managed to deliver respectable revenue growth of 1.3% to £814m as we focus on profitable business rather than volume in an incredibly competitive market.

    “This focus allows us to not only thrive in the current market but to invest in the digital services and tools that will facilitate our transformation from a traditional insurer to an organisation that operates as a genuine partner to its customers.

    “AXA in the UK and Ireland is delivering for customers and distribution partners and I am confident that we are well placed to continue to deliver profitable and responsible growth.”

    Media Contacts 
    Legal Notes 

    ABOUT THE AXA GROUP

    The AXA Group is a worldwide leader in insurance and asset management, with 165,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016. In 2016 Interbrand ranked AXA the 1st insurance brand worldwide for the 8th consecutive year.

    In the UK AXA operates through a number of business units including: AXA Insurance, AXA PPP healthcare and AXA Ireland. AXA employees around 10,000 staff in the UK.

    The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

    The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

    It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment. 

     

    Corporate Responsibility strategy:
    axa.com/en/about-us/strategy-commitments

     

    SRI ratings:

    axa.com/en/investor/sri-ratings-ethical-indexes