Markets

AXA 9-Month Revenues Up 5%

(RTTNews) - AXA (AXAHY.PK) Wednesday reported nine-months revenues of 79.68 billion euros, up 5% from 75.82 billion euros last year.

France revenues rose 4% to 19.57 billion euros, Europe increased 3% to 26.98 billion euros, AXA XL grew 11% to 14.17 billion euros, Asia inched up 4% to 7.32 billion euros, US gained 5% to 4.30 billion euros and International revenues rose 5% to 5.30 billion euros.

"AXA delivered another strong operating performance in the first nine months of 2019. AXA's revenues grew overall by 5%, notably with a continued strong growth dynamic in P&C Commercial lines and in Health, and with all of AXA's geographies contributing to this strong growth," said Gérald Harlin, Deputy Chief Executive Officer.

"AXA XL achieved significant revenue increases, notably in P&C Insurance and Specialty. The favorable pricing environment in Insurance continues to improve, with the third quarter renewals experiencing significant rate increases. Given a series of severe natural catastrophes, including Hurricane Dorian and Typhoons Faxai and Hagibis, AXA XL incurred an above average level of natural catastrophe claims in the third quarter and early into the fourth quarter, mostly from Reinsurance."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.