AXA : Adjustment to our 2020 earnings forecasts but Buy reiterated
>Coronavirus expected to have a significant impact this year - Bear in mind that AXA stated on 3 June that it was expecting a claims charge after tax of € 1.2bn in 2020 due to the coronavirus. The most significant losses will come from the insurance for business interruption and events cancellation. But the total also includes losses in other business lines (D&O, liability, travel) and is net of the favourable impact of claims in the other business lines (particularly...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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