Decent 2018 Results for AXA
AXA reported a good set of results for 2018. This is the first full year of consolidated earnings since the announcement and completion of the XL acquisition in March and September 2018. At a broad level, revenue was up 4% and underlying earnings were up 6%. Net income dropped to EUR 2.1 billion as a result of goodwill impairment, though this was still above our expectations. We are going to hold our fair value estimate at EUR 26 per share, though we may revise this when we get full balance shee...
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