Business transformation bearing fruit as Axa UK GI COR dips below 100%
Axa UK and Ireland’s general insurance business recorded a combined operating ratio of 98.9% in 2013, despite reserve strengthening contributing 0.8 percentage points and a reduction in revenues to £3.7bn (2012: £3.8bn).
The insurer's UK GI operation's COR improvement of 2.3 percentage points was supplemented by 11% growth in commercial lines revenues and an 8% uplift in healthcare revenues.
Axa UK's current-year COR
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