AXA Corporate Solutions reveals its strategic priorities for the 2014-16 period after announcing revenues in excess of €2bn
AXA Corporate Solutions (CS) outlined its strategic priorities for the period 2014-2016 after revealing performances had aligned with 2013 objectives.
The firm intends to grow its market share in the upper market and new technologies segments such as renewable energies, environment, parametric/agriculture and cyber risks.
Furthermore, AXA CS announced its intention to pursue profitable growth in businesses located in the emerging markets of Asia, the Middle East and Latin America. This includes the projected opening of a subsidiary in Brazil and an active pursuit of partnerships and synergies with local AXA entities.
The strategic priorities outlined for 2014-2016 follow the company’s financial success in 2013 having posted revenues of €2.093bn for the year, a 2.5% increase compared to 2012 and excluding the forex impact.
The insurer’s gross combined operating ratio and net combined ratio were 97.7% and 96.1% respectively and its net income for 2013 totalled €150m.
According to AXA, the revenue growth in 2013 was attributable to significant development in the emerging markets and higher market share in the upper market segment(businesses with annual revenues between €600m and €4bn).
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