AXA healthcare and GI revenues increase

AXA healthcare and GI revenues increase
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AXA UK and Ireland's full year results for 2015 showed that general insurance and healthcare revenues increased by 7% to £4.1 billion (2014: £3.8 billion) and by 5% on a comparable basis.

Across AXA UK and Ireland, underlying earnings up 25% to £312 million (2014: £250 million) - the fifth successive year of double digit earnings growth

Profitability of the UK Life and Savings business, including AXA Wealth, SunLife and Architas more than doubled to £54 million (2014: £24 million).

In August 2015, AXA PPP completed its acquisition of competitor health insurer SimplyHealth.

Paul Evans, chief executive of AXA UK & Ireland Group said: "The successful acquisition of the SimplyHealth private medical insurance business further strengthens the breadth of health and well-being solutions available to our commercial and retail customers, and builds upon an excellent healthcare business which has once again grown its retail customer base in an otherwise contracting market thanks to outstanding customer service.

"Overall, healthcare revenues increased by 15% to £1.4 billion and the combined ratio for the health business was 95.7%."

Further reading 

Simplyhealth sells PMI business to AXA PPP

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