AXA : A very good performance in P&C in H1, sale of AXA IM
>Underlying earnings of € 4.2bn in H1, an improvement in the combined ratio in P&C - Premiums were up 7% l-f-l to € 59.9bn (2% above the consensus), with growth in all of the main business lines and a significant price hike in P&C (+10.9% personal lines, +3.7% commercial lines). In life insurance, the new business margin remained high (4.7%) but was down slightly (-0.3 points) due to a deterioration in the mix reflecting forex in Japan. Underlying earnings were € 4,24...AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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