Axa is posting record high profits in the Gulf

Axa, the most important international player of the Gulf region, has reported a two-digit progression of its premiums volume in 2009, jumping from 15% to 26%, for the countries of the region, except for the Emirates where the turnover jumped by 25% in Abu Dhabi and slightly decreased in Dubai. All the group's units are reporting a gross premiums volume of 445 million USD. The net revenue has gone up by 19% at 40 million USD while solvency margin rose to 149%. Axa is expecting an important development of its operations in Saudi Arabia in 2010.