AXA Insurance revealed a strong 2015 performance with premiums exceeding 3.4 billion Baht and a net profit of 121.7 million Baht. In 2016, the company looks to focus on lifestyle products to enhance the customer protection experience. Significant investments are being put into its transformation to truly become the customer-first insurer, to contribute to AXA Asia’s objective to serve 100 million customers in Asia by 2030.
Mr. Martin Rueegg, Chief Executive Officer of AXA Insurance PCL, revealed that the company continued to outperform the market and achieved for the financial year 2015 a premium volume of 3,491.3 million Baht, increasing 8.5% compared to the same period in 2014 which is more than 4 times the insurance industry growth. This strong performance confirms AXA also successfully delivered on its five-year Ambition AXA strategic plan from 2010.
Other operating performance indicators were also satisfactory, particularly profits from underwriting insurance and investments that resulted in a net profit of 121.7 million Baht. The highest growth was seen in Health Insurance, increasing 60% compared to the previous year and elevating AXA to the #4 position in the market1. While all distribution partnerships supported the strong performance achievement , some channels saw exceptionally strong growth. For example the online channel grew by a staggering 55% compared to the same period last year.
“I’m excited to see AXA Thailand continuing its successful journey as a strong and reliable insurer for our customers, partners and staff in line with our global positioning” Mr. Rueegg added. AXA is ranked by Interbrand to be the world’s number one insurance brand for the 7th consecutive year. This year is the first time that AXA is ranked in the top 50 of highest value brands in the world. This rise in the ranking acknowledges AXA’s positioning in key sectors, along with its decisive initiatives, which enable AXA to affirm its position as global insurance leader.
As for the focus for 2016, AXA Insurance focuses on lifestyle protection products offered through all channels to serve the needs and demands of its consumers.
Mr. Jean-Louis Laurent Josi, Regional Chief Executive Officer of AXA Asia said, “2015 marked the completion of Ambition AXA, our five-year strategy to accelerate the development of our global business. We are proud that AXA Asia has made a significant contribution to the plan with impressive growth during this period. Our Annual Premium Equivalent in Life & Savings doubled, reflecting a yearly growth of 15%, and our Gross Written Premiums in General Insurance tripled, reflecting a yearly growth of 24%.”
“Our valued partners have been fundamental to that success, coupled with continuous investment into the region to lay a strong foundation that has made us #1 in General Insurance and a top 3 player in Life Insurance among international insurers in Asia2. Our primary focus will be on the transformation of our entire organization as a customer first insurer as we move into the next phase of our expansion, to target serving 100 million customers in Asia by 2030” added Mr. Laurent Josi.
