AXA 9-Month Revenue Falls to EUR75.4 Billion

By Pietro Lombardi and Anthony Shevlin Features Dow Jones Newswires

French insurer AXA SA (CS.FR) said on Thursday that its nine-month revenue fell slightly, hit by lower sales in its life and savings business.

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The company reported revenue of 75.4 billion euros ($87.7 billion) in the first nine months of the year, compared with EUR75.7 billion in the same period last year.

Revenues at its life and savings division fell 0.9% to EUR43.8 billion.

The property and casualty business had revenue of EUR28.3 billion, while revenue from asset management rose to EUR2.9 billion from EUR2.7 billion.

Life and savings annual premium equivalent, known as APE, declined 0.1% 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.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com and Anthony Shevlin at anthony.shevlin@dowjones.com

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(END) Dow Jones Newswires

November 02, 2017 13:10 ET (17:10 GMT)