AXA 1Q Revenue Falls 2.7%
May 03 2018 - 12:37PM
Dow Jones News
By Max Bernhard
AXA SA (CS.FR) said Thursday that revenue fell 2.7% in the first
quarter.
Revenue fell to 30.8 billion euros ($36.92 billion) in the
quarter compared with EUR31.6 billion the same period a year
earlier, the French insurer said.
On a comparable basis, revenue rose 2.2%, AXA said.
AXA's life and savings division had revenue of EUR14.07 billion,
a 2% increase from a year earlier.
Its property and casualty operations' revenue rose 1% to
EUR12.16 billion, while revenue from its health business increased
7% to EUR3.49 billion.
Life and savings annual premium equivalent, known as APE, rose
5% to EUR1.8 billion in the period. 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.
AXA's solvency ratio--which is a key measure of financial
strength for insurance companies--stood at 221% at the end of
March, compared with 205% in December.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
May 03, 2018 12:22 ET (16:22 GMT)
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