Report
Henry Heathfield, CFA
EUR 98.48 For Business Accounts Only

AXA's diversification is its biggest strength and greatest weakness.

AXA reported pretty flat first-quarter results. Solvency II remains at the top end of the business' range at 196%. The surprise came in the announcement of the intention to partially IPO its U.S. operations along with its AllianceBernstein stake in the first half of 2018. While we understand the business' desire to focus its insurance operations outside the U.S. and establish more North America visibility, we think the decision to IPO AllianceBernstein deprives the group of a long-term opportuni...
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Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Henry Heathfield, CFA

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