AXA 1Q07 revenues up 34%
News
Group, May 10, 2007
On a comparable basis:
- Life & Savings new business volume up 13% and new business value up 13%
- Property & Casualty revenues up 3% Asset Management revenues up 22% with Euro 19 billion of net inflows
Henri de Castries, Chairman of the Management Board
"AXA revenues increased by 34% in the first quarter of the year, demonstrating the efficiency of our business model, a combination of strong organic growth and complementary acquisitions focused on distribution", said Henri de Castries, Chairman of the AXA Management Board.
"Our Life & Savings activities delivered once more double digit growth, and the progressive international roll-out plan of our variable annuity product, Accumulator, is on track.
The Property & Casualty revenues demonstrated good resilience in a competitive pricing environment, especially in retail lines. Our recent acquisition in Korea will reinforce the contribution of our Asian platform in the future.
Our Asset Management business continued to record strong net inflows with both AllianceBernstein and AXA Investment Managers revenues growing at a strong double digit".