May 5, 2011 – PARIS (Reuters) - Axa <AXAF.PA>, Europe's second-biggest insurer, on Thursday posted a 2 percent drop in first-quarter revenue, hit by significant declines in business in France, Italy and the UK.
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The insurance group generated revenue of 27.92 billion euros ($39 billion) in the three months to March 31, a figure which remained flat year-on-year on a reported basis.
Comparatively, average first-quarter revenue expectations from four analysts stood at 28.818 billion euros.
Axa's life and savings revenue was down 4.9 percent to 15.92 billion euros.
(Reporting by Astrid Wendlandt; Editing by James Regan)