AXA has delivered another strong performance in the first nine months of 2022 in a challenging environment. Our revenue mix continued to be of high quality, focused on growing technical lines while reducing our exposure in Nat Cat Reinsurance and traditional G/A Savings.
Health and P&C Commercial lines Insurance revenues have remained strong, increasing by 14% and 6%, respectively. In P&C Personal lines, the pricing environment is showing clear signs of improvement. Overall, we expect that the actions we have taken to counterbalance inflation impacts in P&C this year should keep our strong underlying technical profitability on track across the Group.
This year has been marked by a series of natural catastrophes, notably Hurricane Ian, which is estimated to be one of the costliest hurricanes in the United States. We expect AXA XL’s market share of claims from Hurricane Ian to be around 0.7%, well below its historical market share, reflecting underwriting actions already taken to cut Nat Cat exposure.
Our robust balance sheet puts us in a strong position against the current macroeconomic backdrop, with the Solvency II ratio at 225% and a very high-quality asset mix benefiting from a prudent allocation over the years.
We remain confident in our strategy, focused on developing in technical lines in our core markets, including through selective acquisitions such as recently in Spain.
I would like to thank all our colleagues, agents and partners for their commitment and support in achieving these results, as well as our clients for their continued trust.