Magazine date:
Jan 2013 Competition on the market of small and medium-sized enterprises remains very fierce. Axa, which insures 260 000 companies, said that its operating rate in this segment is declining. The insurer, nevertheless, is hoping to make the difference by offering specific services. Axa’s penetration rate on corporate markets is 29% but rises to 37% for SMEs and 27% for small businesses having less than 10 employees.
With a turnover of 2.7 billion EUR (3.4 billion USD) in 2011, the Group's share of non life insurance varies from 15 to 20%, according to the class of business, making Axa the leader of fire insurance. Furthermore, the rates of Axa Corporate are poised to increase from 3% to 7% in 2013.