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AXA says 9-month revenues rise 1.3 pct, Solvency up
October 25, 2012 / 5:06 AM / in 5 years

AXA says 9-month revenues rise 1.3 pct, Solvency up

PARIS, Oct 25 (Reuters) - Europe’s No. 2 insurer AXA reported an 1.3 percent rise in nine-month revenues on a comparable basis as strength in areas such as property and casualty insurance offset weakness in life insurance.

Total revenues rose to 68.36 billion euros ($88.66 billion), helped by a 3.6 percent gain in property and casualty insurance sales, which outweighed a 5.7 percent like-for-like drop in asset management revenues.

AXA said its regulatory Solvency 1 ratio, a measure of financial strength, had risen to more than 220 percent by the end of September, up from 207 percent the company reported at the end of the first half. ($1 = 0.7711 euros) (Reporting By Christian Plumb; editing by Mark John)

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