PARIS Oct 24 AXA, Europe's No. 2
insurer, blamed a stronger euro and seasonal weakness in life
insurance for a slowdown in revenue growth in the first nine
months of the year.
Revenue rose 2 percent to 69.5 billion euros ($95.93
billion), slower than the 3.4 percent revenue growth seen in the
first six months of the year, AXA said on Thursday. It
reaffirmed its 2015 targets without giving a progress update.
"There are several factors that we can see: The
exchange-rate effect, the impact of asset outflows from our
Asian customers and the slight slowdown in life insurance -
though the third quarter is never a very strong one," Deputy
Chief Executive Denis Duverne told journalists on a conference
($1 = 0.7245 euros)
(Reporting by Lionel Laurent; Editing by James Regan)