Axa has reported property and casualty revenues of approximately £46.7bn for 2024, up by 7% on the £43.8bn posted the previous year. Although the carrier said personal lines premiums for the year increased by 7% to £15.8bn, it said this growth had been offset by lower volumes in the UK & Ireland and Germany.

Thomas Buberl, chief executive officer of Axa, said: “We have a clear strategy fully focused on insurance and built around leading businesses, supported by a robust balance sheet. This is producing attractive and consistent results.”

He added: “Our Group is now growing at a stronger pace, with robust revenue growth across all lines of business and geographies. We have remained disciplined on pricing while accelerating on volume growth.”