French insurer AXA reported total revenues of EUR 31.6 billion for the first three months of 2017, down by 0.3% y-o-y.

"Total revenues were stable as growth in Property & Casualty and Asset Management was offset by Life & Savings", the French insurer poined out in a press release.

The Life & Savings segment generated revenues of EUR 17.1 billion (vs. EUR 17.4 billion in Q1 2016), Property & Casualty revenues were up by 2.1% to EUR 13.4 billion, while Asset Management revenues totaled EUR 1.0 billion (vs. EUR 0.9 billion).


AXA's officials pointed out that the main transactions since January 1, 2017 were as follows:

• Completion of the sale of AXA's UK P&C commercial broker Bluefin to Marsh announced on January 2, 2017;
• Successful placement of USD 1 billion dated subordinated notes due 2047 announced on January 11, 2017;
• Completion of the sale of the Romanian operations to Vienna Insurance Group on April 28, 2017;
• Announcement on May 10, 2017 of buyback of AXA shares and elimination of the dilutive effect of certain share-based compensation schemes;
• AXA's intention to IPO its US operations announced on May 10, 2017.

Read the full release here.