Great business for Axa in Italy. The French insurance giant closed a positive 2012 for its activities in our country. Last year Axa Insurance e Axa MPs (joint venture with Monte dei Paschi di Siena) achieved a 3% increase in premium income, to 5,6 billion euro, and a sharp rise in net income (+46,5%), to 237 million of Euro.
Axa underlines that Italy remains a key market for the group, with a 6,7% incidence on premium income in the life business and 5,4% in the non-life business. The overall market share, on the other hand, reaches 4,7%.
In detail, Axa Assicurazioni, the company led by Andrea Rossi, collected premiums of 1,9 billion last year, with a profit of 98 million (+78%). Even Axa Mps, despite the financial scandal that engulfed Montepaschi, generated a growing net profit (+30%), up to 139 million. Life premium income reached 3,5 billion (+6%), while gross Non-Life premium income reached 127 million (+11%), also thanks to the sale of Motor TPL policies over the counter.
Fabrizio Viola, Antonio Marino and Bernardo Mingrone have joined the Board of Directors of Axa Mps for Monte Paschi. Confirmed the two managing directors: Rossi for Axa insurance and de Courtois for the joint venture with the Italian Bank.
