AXA : 2020 results to be largely impacted by COVID-19 but a solid balance sheet
>Good activity indicators in Q1 2020 - AXA yesterday evening reported its activity indicators for Q1 2020. Total group revenues came to € 31.7bn, an increase of 4% like-for-like (-9% in reported terms), close to our expectations (€ 30.5bn), but 5% better than the consensus (€ 30.2bn). We note a good level of growth in commercial lines (+5% l-f-l), in health insurance (+8%) and protection and for unit-linked life insurance contracts. The group continued to raise prices...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.
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