The First Quarter 2005 Activity Indicators
News
Group, May 12, 2005
Continuing towards profitable growth
- Life & Savings new business APE and NBV up 8%
- P&C revenues up 2%
- Asset Management revenues up 5% with strong positive net inflows in the first quarter of 2005
Henri de Castries
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"We are satisfied to see our Life & Savings new business growth well in line with our long-term objectives." said AXA Chief Executive Officer Henri de Castries. "Profitable volume expansion associated with product mix improvements are the basis for our high new business value and margin.
"Our P&C revenues development demonstrates our ability to attract new clients, while maintaining a strict underwriting discipline in a more competitive pricing environment.
"After a very good performance in 2004, Asset Management activities have maintained their dynamic momentum, recording strong positive long-term net inflows of Euro 11 billion during this first quarter."