AXA Posts Growth in Marine and Aviation Business
The marine and aviation division of AXA Corporate Solutions continued to make substantial progress and grow market share in 2006, the Paris headquarters reports.
AXA Corporate Solutions, the specialized lines insurer within the giant AXA Group, showed a 5% growth in turnover, reaching €1.689 billion in 2006, while keeping its combined ratio at 100%.
Patrick de La Morinerie, deputy chief executive of the company and responsible for marine and aviation, said today:
The company is one of the players in marine insurance. In 2006, 22 percent of its marine business came from French clients and 78 percent from the rest of the world. Major renewals of programs at the beginning of this year were secured. In the U.K., cargo insurance is growing rapidly under an initiative to target high-end U.K. clients, and several big multinational accounts have been won.