Reuters logo
AXA Q1 sales rise 3 pct, helped by asset management
May 6, 2013 / 4:36 PM / 4 years ago

AXA Q1 sales rise 3 pct, helped by asset management

PARIS, May 6 (Reuters) - Europe’s No. 2 insurer, AXA , reported a 3 percent rise in first-quarter sales to 28.9 billion euros ($37.7 billion), helped by gains in life insurance and asset management.

The company’s new-business margin in life insurance rose to 32 percent from 29 percent, AXA said in a statement on Monday.

While property and casualty revenue rose 2 percent in the quarter on a like-for-like basis, life insurance gained 4 percent, while asset management jumped 8 percent, AXA said.

AXA shares have gained 10 percent so far this year, slightly outperforming the sector, which is up 9.5 percent over the same period.

AXA said its Solvency I ratio, a measure of financial strength, stood at 228 percent at the end of March, down slightly from 233 percent at the end of 2012. ($1 = 0.7659 euros) (Reporting by Christian Plumb; Editing by James Regan)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below