Insurer Axa posts 3.0% rise in Q1 sales

6th May 2013, Comments 0 comments

Axa, the second biggest European insurance group by market value, posted on Monday a nearly three-percent rise in first-quarter sales owing to improvements in its life insurance, savings and pension divisions.

Axa said that sales rose to 28.9 billion euros ($37.7 billion) from 28.1 billion in the same period a year earlier, with life insurance policies and savings products accounting for 16.43 billion of the new total.

The group also highlighted stronger results in Turkey, the Gulf region, Hong Kong, Malaysia and Singapore.

Revenue from asset management gained seven percent to 827 million euros, a statement added.

The results were released after the Paris stock market closed, with shares in the group trading with a gain of 0.3 percent at 14.71 euros, giving Axa a market value of 35.02 billion euros.

- Dow Jones Newswires contributed to this story -

mch/wai/jmm


© 2013 AFP

0 Comments To This Article