Axa's Nine-Month Performance Driven by Property and Casualty Segment
November 02 2023 - 1:25PM
Dow Jones News
By Giulia Petroni
AXA said gross written premiums and other revenue rose slightly
in the first nine months of the year, boosted by the property and
casualty business, and that it is on track to meet its full-year
earnings target.
The French insurer said Thursday that gross written premiums and
other revenue came in at 78.76 billion euros ($83.25 billion) in
the period, up 1% on year from EUR78.02 billion the year earlier.
On a comparable basis, the figure was up 2%.
Revenue at AXA's property and casualty business rose 5%, while
the life-and-health and asset-management segments both registered a
3% decline.
AXA said it expects to meet its underlying earnings target of
more than EUR7.5 billion for the year. It expects some headwinds
from higher health claims frequency in the U.K., elevated lapses in
Italy, and natural catastrophe activity in the third quarter.
Total debt at year end is expected to remain broadly stable
compared with last year, the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 02, 2023 13:10 ET (17:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
AXA (QX) (USOTC:AXAHY)
Historical Stock Chart
From Oct 2024 to Nov 2024
AXA (QX) (USOTC:AXAHY)
Historical Stock Chart
From Nov 2023 to Nov 2024
