AXA 1st Half Net Profit up 2% on Strong Asset Management Business
August 03 2017 - 1:29AM
Dow Jones News
By Noemie Bisserbe
PARIS--French insurer AXA SA (CS.FR) on Thursday reported a 2%
increase in first-half net profit as a strong asset management
business helped offset lower life and savings revenue.
Europe's second-largest insurer by market value said net profit
increased to 3.27 billion euros ($3.87 billion) in the first six
months of the year from EUR3.21 billion a year earlier. That was
above analysts' estimate of EUR3.18 billion, according to data
provider FactSet.
Revenue rose to EUR54.28 billion from EUR54.04 billion a year
ago.
Life and savings annual premium equivalent, known as APE, was up
1% at the end of June. APE measures new business growth for life
insurance by combining the value of payments on new regular premium
policies, and 10% of the value of payments made on one-time,
single-premium products.
-- Write to Noemie Bisserbe at noemie.bisserbe@wsj.com
(END) Dow Jones Newswires
August 03, 2017 01:14 ET (05:14 GMT)
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