For the first year, Axiom Insurance Company registered a significant improvement in all key indicators for 2022, thanks to its excellent performance in sales of Property, Financial, Accident and Health products, despite the challenging market environment.
The company is one of the most dynamically developing on the market and strengthens its position by realizing strong financial results, offering innovative insurance solutions, high quality services and responsible attitude towards its customers.
According to the final results, the company's GWP achieved growth of 129% in 2022, compared to the previous year, surpassing the growth of the market. The high results are due to the company's ability to provide high efficiency both in Health insurance, where it grew by 4.9% compared to 2021, in Property - a growth of over 100% and Accident insurance with 31.5% increase, and in the newly obtained licenses in March last year, where the realized growth is over 1000% thanks to Surety, Liabilities and Travel LoBs. The company confirms its high capital position with a solvency ratio at a level of 119% by the end of 2022.
The CEO of Axiom Insurance Company, Tsvetelina Mihaylova, commented: "We reported a 129% increase in GWP for 2022 compared to 2021, based on the successful development of our portfolio on both existing lines of business and newly acquired licenses at the beginning of 2022, following a good judgment and thorough knowledge of the underwriting criteria. The results of operations once again confirm the success of our strategy for diversification of our insurance portfolio and profitable business growth by increasing the share of Property, Surety, Health, Liability and Accident insurance products in the company's sales. We will continue to work in this direction, ensuring stability, efficiency and dedication to the interests of our customers by developing and offering new high-quality and innovative products and services."
