PARIS (dpa-AFX) - French insurer Axa SA (AXAHY.PK) reported that its net income for the first-half of fiscal year 2022 rose to 4.11 billion euros from 3.996 billion euros last year, as the increase in underlying earnings was offset by less favorable market impacts on the net change of fair value of invested assets and by the write-off of Reso Garantia goodwill.
On a per share basis, earnings were 1.68 euros per share up from 1.63 euros per share in the prior year.
Underlying earnings increased by 4% to 3.9 billion euros at constant Forex, with +7% from strong organic growth, partly offset by-3% from the impact of disposals.
The company remains confident in the Group's ability to deliver on the four main financial targets of AXA's 'Driving Progress 2023' plan: underlying earnings per share growth at the high end of the 3-7% CAGR target range between 2020 and 2023.
The Group announced a 1.0 billion euros share buy-back reflecting robust operational performance, the strength of balance sheet, and continued execution of capital management initiatives.
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