There has been a lot of debate and speculation since the EU Referendum result came in and we are aware that there is a degree of uncertainty for brokers concerning insurer response to this, particularly those insurers who have European parent companies.
Axa is not going to add to that uncertainty by second guessing this situation but it is worth making clear that Friday’s results will have no impact upon axa’s operations in the uk. AXA is still committed to its business in the UK, which has an integral role to play and will be a key contributor to the Group’s future success.
Axa is the world’s largest financial services company and as such is comfortable and experienced in trading across borders and currencies, so we are confident that the uk’s withdrawal from the eu will affect neither our ability to transact business nor our commitment to the uk market. axa maintains a very good financial solidity, with a solvency 2 ratio at 200% as of the end of Q1, and our Ambition 2020 strategy has been built on cautious assumptions, including very low interest rates until the end of the plan.
Of course we are as susceptible to the outcome of negotiations as everyone else in the UK but as far as we are concerned it is business as usual. As such, there is obviously no impact on policies that provide cover in Europe (travel, breakdown, medical assistance etc) which will continue to react as they have done.
Regards,
Axa Insurance