CS Axa

By William Horobin

PARIS--French insurer AXA SA (CS.FR) said Thursday that it is experiencing some slowdown in revenue growth in its property and casualty insurance business but still expects to meet its 2015 targets.

The French insurer made the comments in a statement after a conference with investors.

AXA said its combined ratio target--which measures the profitability in terms of losses and claims--will still reach 96% by 2015, despite the slowdown in revenue growth. AXA would have already reached its target this year had it not been for higher than normal costs from hailstorms in Europe and a hurricane in Mexico.

AXA also said its life insurance and savings operations continue to see strong momentum.

Write to William Horobin at william.horobin@wsj.com

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