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AXA: Q1 sales up 1%

( - AXA has reported a 1% increase in revenues on a comparable basis for Q1 2023, to E31.
8bn, including a 7% increase in commercial property and casualty insurance premiums, a 4% increase in personal property and casualty insurance premiums and a 2% increase in personal protection premiums.

The group said that it is continuing to voluntarily reduce certain lines, including its natural catastrophe reinsurance and traditional savings business, as well as certain international group health insurance contracts.

The solvency II ratio stood at 217% as at 31 March, up two points from the end-2022, and AXA expects a normalised operating return on solvency II ratio between 25 and 30 points for 2023.

AXA also says it is confident of posting operating income of over E7.5bn in 2023, provide that current economic and market conditions continue, with a normalised level of claims in terms of natural disasters.

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