Axa Q1 Gross Written Premiums Rise; Issues FY23 Earnings View

French Insurance company Axa S.A. reported its first-quarter total gross written premiums and other revenues increased 2 percent to 31.8 billion euros from last year's 31.2 billion euros.

Source: RTT | Published on May 16, 2023

AXA_Insurance considering sale of reinsurance co

French Insurance company Axa S.A. reported Monday that its first-quarter total gross written premiums and other revenues increased 2 percent to 31.8 billion euros from last year’s 31.2 billion euros.

Gross written premiums and other revenues went up 1 percent on a comparable basis.

Property & Casualty gross written premiums & other revenues were up 6 percent to 18.6 billion euros. Life & Health gross written premiums & other revenues were down 4 percent to 12.8 billion euros.

Asset Management revenues decreased 4 percent at 0.4 billion euros, mainly driven by lower management fees reflecting a lower average asset base, partly offset by higher transaction fees.

Average assets under management fell 7 percent from last year to 736 billion euros, reflecting unfavorable market effects.

Looking ahead for fiscal 2023, the company projects Group underlying earnings above 7.5 billion euros.

 

 

 

 

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