AXA report strong life insurance performance

Thu, 09 Nov 2006

In tandem with yesterday’s news from life insurance company Standard Life showing a strong period of profits, the insurance company AXASA yesterday claimed that nine-month revenue generated from life insurance and savings business was up 11.6 per cent on last year.

The company’s growth was apparently bolstered by property and casualty business, and other personal non- life insurance sales . The asset management branch of AXA also saw a large revenue increase. The company have also made a major integration with the purchase of Winterthur from Credit Suisse. This gives them a large presence in Switzerland .

The nine-month revenue figures are apparently in line with projections made by the company, and they are expected to reach their set targets. These include a growth of between 5 and 10 per cent for life insurance and savings revenue.

Despite an apparently troubled period for the life insurance market, it appears that diversified insurance companies are having no problems meeting profit expectations.
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