AXA : Cost of hurricane Michael higher than expected, but limited impact
>Robust activity indicators for 9M 2018 - AXA yesterday evening reported its 9M 2018 activity indicators. Total gross revenues reached € 75.8bn (+0.6% reported and +3.7% on a comparable basis vs +3% in H1 2018), ahead of expectations (consensus: € 75.0bn, Oddo BHF’s estimate: € 75.1bn). The difference vs expectations stemmed notably from life insurance in the US and, to a lesser extent, Asia. At the life division, APE rose 8.9% on a comparable basis with an NBV margin...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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