AXA reins in reinsurance as core insurance lines drive Q1 performance

Commercial lines rose 3% to €13.2 billion. AXA XL Insurance grew 2%, with expansion in property and specialty classes where margins remain attractive, partly offset by lower volumes in casualty. The French commercial portfolio expanded 6%, supported by both rate and volume, while Asia, Africa and EME‑LATAM were up 10%, again helped by pricing in Türkiye.