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AXA Gulf H1 revenues up 60%

AXA Insurance (Gulf) has reported that its revenues for the first half of 2008 increased 60% when compared to the same period of 2007.

The company reported a growth of 66% and 51%, respectively, in commercial lines and personal lines in the first half of 2008.

According to Jean-Louis Josi, CEO of AXA Insurance Gulf and the Middle East, the company has reported more than 50% growth in premium rates in the United Arab Emirates and Qatar markets. The operations in Bahrain, Oman and Saudi Arabia have also reported good premium growth rates.

Mr Josi said: As for future plans, AXA has the ambition to develop its regional product portfolio for corporate and individual customers notably in terms of life offering as well as in health.