UK/Ipswich: Insurance giant AXA sees UK & Ireland earnings rise

AXA , Civic Drive, Ipswich. AXA , Civic Drive, Ipswich.

Saturday, August 2, 2014
6:00 AM

Global insurance giant AXA Group saw earnings from its UK and Ireland arm rise by a third in the first half of the year.

To send a link to this page to a friend, you must be logged in.

The firm, which employs more than 1000 employees at its Ipswich offices, is celebrating an underlying earnings increase of 33% from £89milllion in the first half of last year, compared to £118m in the same period in 2014.

General insurance revenues rose by 2% to £2billion.

Its Ipswich site is involved in a range of its products from motor and household insurance, cover for businesses and technical support for AXA offices in the UK and beyond.

UK & Ireland group chief executive Paul Evans said he was “very pleased” with the performance.

“During the past four years, the transformation of the UK and Ireland business has, through a resolute focus on responding to the needs of customers in each of our target markets, delivered both sustained growth and improved profitability. I remain confident that, despite very competitive market conditions, our businesses are well positioned for profitable growth,” he said.

Following a business improvement plan launched in 2012, its UK direct personal lines business has returned to both growth, with an eight per cent increase in revenues to £0.2 bn.

AXA chairman and chief executive Henri de Castries said: “This half year is another stepping stone to achieving Ambition AXA. The effective implementation of our strategy has delivered strong earnings growth, the highest first half underlying earnings in the company’s history.”

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

ADVERTISEMENT

ADVERTISEMENT

loading...

ADVERTISEMENT

ADVERTISEMENT