AXA Gulf's H1 revenues rise by 60%

AXA REVENUES: Insurance giant reports 60 percent increase in revenue in Gulf in first half of 2008.

AXA Insurance (Gulf) on Monday announced that its revenues for the first half of 2008 had increased 60 percent on the same period last year.

The company also recorded a 66 per cent growth in commercial policies and 51 per cent growth in personal policies.

Chief executive Jean-Louis Laurent Josi, said: "All our operations in the region, namely the UAE, Bahrain, Oman, Qatar and Saudi Arabia, have reported impressive premium growth rates driven by UAE and Qatar well above 50 per cent."

He added that he thought the local insurance market would be boosted by the recent changes in the visit visa regulations that includes mandatory health insurance.

"Our regional strategy to become the preferred company for our customers fostered this strong performance and the outlook is optimistic as further initiatives will be launched in the coming months.

"Our customers' overall satisfaction is very high and our aim is to continuously increase it by setting new quality standards in the insurance market."

He added: "As for future plans, AXA has the ambition to develop its regional product portfolio for corporate and individual customers."

Print | Email | Discuss this article |

READERS' COMMENTS

View all comments (0)

Have your say

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM