2007 a ‘solid’ year for AXA

by David Masters

Story link: 2007 a ‘solid’ year for AXA

French insurance group AXA have reported their results for 2007, with underlying earnings of €4,963 million (£3,788 million), an increase of 27%. Net income was up to €5,666 million, an increase of 11%, and adjusted earnings also rose to €6,138 million, an increase of 22%.

The company achieved strong growth in all segments, including 10% in life and savings, 8% in property and casualty, and 21% in asset management.

The chairman of AXA’s management board, Henri de Castries, said of the results: “2007 was another year of solid performance, with underlying earnings per share growth outpacing our Ambition 2012 target.

“The reported numbers reflect the combination of a strong organic growth in all our business lines, the successful integration of Winterthur and confirm that the strength of our balance sheet is not affected by the subprime crisis.”