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Effective URL: https://www.reuters.com/business/finance/axas-nine-month-revenue-up-7-track-meet-annual-target-2024-10-30/
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Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv * World Browse World * Africa * Americas * Asia Pacific * China * Europe * India * Israel and Hamas at War * Japan * Middle East * Ukraine and Russia at War * United Kingdom * United States * Reuters NEXT * US Election * Business Browse Business * Aerospace & Defense * Autos & Transportation * Davos * Energy * Environment * Finance * Healthcare & Pharmaceuticals * Media & Telecom * Retail & Consumer * Future of Health * Future of Money * Take Five * World at Work * Markets Browse Markets * Asian Markets * Carbon Markets * Commodities * Currencies * Deals * Emerging Markets * ETFs * European Markets * Funds * Global Market Data * Rates & Bonds * Stocks * U.S. Markets * Wealth * Macro Matters * Sustainability Browse Sustainability * Boards, Policy & Regulation * Climate & Energy * Land Use & Biodiversity * Society & Equity * Sustainable Finance & Reporting * The Switch * Reuters Impact * COP29 * Legal Browse Legal * Government * Legal Industry * Litigation * Transactional * US Supreme Court * Breakingviews Browse Breakingviews * Breakingviews Predictions * Technology Browse Technology * Artificial Intelligence * Cybersecurity * Space * Disrupted * More Investigations Sports * Athletics * Baseball * Basketball * Cricket * Cycling * Formula 1 * Golf * NFL * NHL * Soccer * Tennis Science Lifestyle Graphics Pictures Wider Image Podcasts Fact Check Video Sponsored Content * Reuters Plus * Press Releases My News Sign InSubscribe * Finance * Insurance AXA'S NINE-MONTH REVENUE UP 7%, ON TRACK TO MEET ANNUAL TARGET By Reuters October 30, 202410:50 PM GMT+1Updated 16 hours ago Text * Small Text * Medium Text * Large Text Share * X * Facebook * Linkedin * Email * Link The logo of insurer and bank AXA Belgium S.A. is seen in Brussels, Belgium February 25, 2023. REUTERS/Yves Herman/File Photo Purchase Licensing Rights, opens new tab * Companies * Axa Sa Follow * BNP Paribas SA Follow Oct 30 (Reuters) - France's AXA (AXAF.PA), opens new tab, Europe's second-biggest insurer, posted on Wednesday a 7% increase in sales for the first nine months, in line with expectations, with improved customer retention and market share in some segments. AXA said it is confident of achieving underlying earnings per share growth in 2024 in line with its 6%-8% annual growth rate target. Its gross written premiums and other revenues for the first three quarters came at 84.0 billion euros ($91.27 billion), slightly below the company-compiled consensus of 84.14 billion. Advertisement · Scroll to continue Sales of AXA's so-called commercial lines, or insurance policies for companies, were up 7%, driven by higher volumes and "disciplined" pricing. Its home and motor insurance for individuals were up 6%. AXA's solvency II ratio, a measure of its capital strength under the European Union's risk-measurement rules for insurers, stood at 221%, down 6 points in comparison to June 30, and below the 224% expected by analysts. Advertisement · Scroll to continue AXA said it currently estimates its combined losses from Hurricane Helene and Hurricane Milton to be below 200 million euros before tax and net of reinsurance. It also confirmed its natural catastrophe load of about 4.5 points of combined ratio for the year. Asked about the sale of AXA IM to BNP Paribas (BNPP.PA), opens new tab, Chief Financial Officer Alban de Mailly Nesle said AXA still expects the transaction to be completed at the end of June or early July. ($1 = 0.9203 euros) Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. 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