AXA reported record half-year profit of EUR 3.1 billion

26 August 2015 — Vlad BOLDIJAR
Driven by growth in all its business segments, the French insurer AXA reported total revenues of EUR 54.5 billion for the 1H2015 period, up 2% y-o-y on a comparable basis. At the same time, the net income was down by 7% to almost EUR 3.1 billion, according to the half year activity indicators published by the group. On a reported basis, the two mentioned indicators increased by 10% and 2%, the group noted in a press release.

"AXA has delivered a strong performance during the first half of 2015, setting a new half-year record with EUR 3.1 billion in underlying earnings", said Henri de CASTRIES, Chairman and CEO of AXA.

By divisions, the Life & Savings segment generated revenues of EUR 31.9 billion (+1% y-o-y), while Property & Casualty revenues totaled EUR 18.2 billion (+1%). At the same time, Asset Management revenues totaled EUR 2 billion (up 6% y-o-y), the International insurance revenues increased by 7% to EUR 2.2 billion, while the Banking and Holdings revenues was up by 5% to EUR 302 million.

"In Life & Savings, we achieved substantial growth on both the top and bottom lines, boosted by our focus on Unit-Linked products. In Property & Casualty, we maintained our emphasis on profitability, leading to modest growth in revenues. Asset Management continued its strong momentum, experiencing high net inflows in both our asset managers, as well as a strong increase in earnings. Finally, our Economic Solvency position remained resilient and strong", said Henri de CASTRIES.

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