Report
Benoit Valleaux

AXA : Affected by the crisis, but the outlook is still good

>Recovery in sales expected in Q3 - AXA will report its activity indicators for the first nine months of 2020 on Tuesday 3 November after trading. We expect revenues of € 74.2bn (-6.8%), with € 21.85bn for Q3 2020 (+0.6%). Our forecast is slightly above the consensus (€ 73.7bn est. in 9M), due mainly to our estimate for life insurance in France. By business line, for 9M 2020 we look for a strong fall in premiums in life insurance & savings (-20.9%e), a very slight inc...
Underlying
AXA
AXA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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