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Jean-Louis Laurent Josi, said:
"AXA Gulf's first half 2008 performance reported a robust growth clearly enhancing its leading position among the Property and casualty players in the region. All our operations in the region, namely the UAE, Bahrain, Oman, Qatar and KSA, have reported impressive premium growth rates driven by UAE and Qatar well above 50%. In addition, thanks to AXA's superior technical expertise, the quality of the business we booked remains at a very high level, making AXA Gulf an even more solid and sound company."
"Our regional strategy to become the preferred company for our customers fostered this strong performance and the outlook is optimistic as further initiatives will be launched in the coming months. Our customers' overall satisfaction is very high and our aim is to continuously increase it by setting new quality standards in the insurance market. Our recently introduced exclusive valet service in the event of an accident has received an enthusiastic welcome in the market and we are proud to see that some competitors want to copy such a service."
"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. AXA Group's strong expertise in these lines of business will be a key competitive advantage to our development."
Finally, Jean-Louis Laurent Josi expressed his confidence in the insurance industry as it should strongly be impacted by the recent/future changes in regulation (i.e. the mandatory health insurance and the visit visa amendments).
Posted by Anne-Birte Stensgaard, Senior News Editor
