AXA Reports Steady Nine-Month Total Revenue; Shares Remain in 4-Star Territory

AXA reported broadly decent top-line nine-month indicators on Nov. 2. At group level, gross revenue has risen by 2% to EUR 78.4 billion. The growth of its divisions has been patchy. Within property and casualty revenue was up 3% to EUR 40.7 billion. Performance was strong within commercial insurance as the business continues with its strategy. The 6% increase in commercial revenue to EUR 24.4 billion has come as a result of price increases and higher sales in AXA Assistance from travel insurance. The other bright spot within property and casualty is personal lines with a 4% gross revenue rise to EUR 13.3 billion. That has come from a combination of better pricing in nonmotor and Europe. The drag has been AXA XL Reinsurance, where gross revenue is down 20% to EUR 2.9 billion with AXA’s preference to move away from natural disasters.