AXA Revenue Rises on Weaker Euro
October 26 2015 - 1:32PM
Dow Jones News
By William Horobin
PARIS--AXA SA (CS.FR) on Tuesday reported a 9% rise in revenue
for the first nine months of the year, helped by a weaker euro
boosting the value of revenue abroad.
Europe's second-largest insurer by market value said sales
increased to 76 billion euros ($84 billion) in the nine months to
the end of September from EUR69.6 billion a year ago.
Discounting the effect of foreign-exchange fluctuations, AXA
said it would have recorded a 2% increase in revenue over the
period.
Revenue at its life and savings division was also up 9% at
EUR44.8 billion, while property and casualty revenue was up 7% at
EUR24.8 billion.
Life and savings annual premium equivalent, known as APE, was up
19% at the end of September to EUR5.6 billion. 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.
The company said its solvency ratio--a key measure of an
insurance company's financial strength--was 263% at the end of
September, up from 258% at the end of June.
-Write to William Horobin at william.horobin@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 26, 2015 13:17 ET (17:17 GMT)
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