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Crisis results for AXA Group in H1 2009

AXA Group reported a profit drop of 39%, to EUR 1.3 billion, and a drop of 6% of revenues, down to EUR 48.4 billion, in the first half of 2009.
Also, a slight decrease in revenues was recorded in the life insurance sector (7%), the total value of business generated by these policies reaching EUR 30 billion. This downward trend was observed since the end of 2008, mostly caused by the negative evolution of the economic environment.

The Property&Casualty insurance segment has seen a slight increase of 1%, the business from this sector totaling up to EUR 14.9 billion. This increase was facilitated by the personal business lines, while commercial lines experienced minor fluctuations.

Compared with other regions where AXA carries out its activity, the contribution of Central and Eastern Europe to the total income of the group was minimal: EUR 228 million - general insurance, respectively EUR 78 million - life insurance.

Author: Vlad BOLDIJAR on 29.10.2009

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