Axa UK revenue increased in the first half of 2004, according to its latest financial results, through higher investment and group pension sales and continued growth in the SME sector.
In the UK and Ireland revenues increased by £139m to £3.62bn, aided also by growth in the corporate healthcare division, say first half results.
Axa's underlying earnings improved by £58m on the same period for 2003, due primarily to higher technical margin in the life and savings business and improved combined ratio in the general business.
General business also increased from £1.54bn to £1.62bn while life and pension sales were up 14%.
Group pensions new business increased 23% and unit-linked bond premiums were up 19%, including an increase of 62% in offshore bond business.IFAonline
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