Comment from AXA on the Civil Liabilities Bill

Commenting on the Civil Liabilities Bill, Amanda Blanc, CEO of AXA UK, said:

It is really encouraging to see the Government taking whiplash fraud seriously. In a speech understandably dominated by Brexit matters, the inclusion of the Civil Liabilities Bill just goes to show how important it is that the UK's compensation culture is tackled. Delivering meaningful reform to counter the whiplash fraud epidemic will be welcomed by honest motorists and insurers alike.

Let's not forget that we have been here before. We need to use this opportunity to also consider the impact of the Ministry of Justice’s decision to reduce the personal injury discount rate to minus 0.75% which is not representative of real investment practice and has put severe pressure on people’s premiums and the NHS. If the rate is left as it is, it will more than cancel out any savings delivered by whiplash reform.

Amanda Blanc, CEO at AXA UK

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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