AXA Group’s global P&C revenues up 4%

The AXA Group reported its global property and casualty revenues were up 4% in 2006.
“Property and casualty revenues increased by 4% to EUR19.793 billion [about Cdn$30.4 billion],” AXA reported in a press release. “Personal lines were up 5% resulting from a combination of strong resilience in most European countries and positive momentum elsewhere.
“Commercial lines were up 4%, mainly driven by France, the United Kingdom and Belgium.”
In Canada, AXA noted that Citadel was acquired Mar. 1, 2006, with retroactive effect on Jan. 1, 2006. AXA noted that in 2005, Citadel recorded EUR193 million [Cdn$296.4 million] of P&C revenues.
Globally, AXA noted that personal motor and household net new inflows were up strongly compared to 2005, reaching 939,000 contracts and 231,000 contracts, respectively.
“Our performance in 2006 demonstrates once again that AXA, acting on the structurally growing financial protection market, is capable of meeting its long-term top-line growth targets,” said Henri de Castries, chair of the AXA management board, in a press release. “All our business segments are contributing to this growth and I am particularly satisfied to note that this volume expansion is accompanied by continuing improvement of our business mix, notably in life and savings and asset management.”
Asset management revenues increased by 29% to EUR4.4 million [Cdn$5.7 million], AXA reported.