French insurer reports 3.5 percent rise in sales

28th October 2010, Comments 0 comments

French insurer Axa SA said Thursday sales rose 3.5 percent over the first nine months of the year to 70.462 billion euros (97.042 billion dollars).

The consensus analysts' forecast from Dow Jones Newswires was for sales of 70 billion euros.

Growth was marked in Asia, up 25 percent, as well as in Portugal, Turkey, Morocco and Canada, the company said in a statement. Progress was better in loss insurance, up 4.2 percent, rather that life policies, up three percent, the company said.

Axa said it benefited from higher rates for policy holders, especially in loss insurance for individuals, which rose by an average 3.4 percent while company policies were up two percent.

© 2010 AFP

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