PARIS (dpa-AFX) - French Insurance company Axa S.A. (AXAHY.PK) reported Monday that its first-quarter total gross written premiums and other revenues increased 2 percent to 31.8 billion euros from last year's 31.2 billion euros.
Gross written premiums and other revenues went up 1 percent on a comparable basis.
Property & Casualty gross written premiums & other revenues were up 6 percent to 18.6 billion euros. Life & Health gross written premiums & other revenues were down 4 percent to 12.8 billion euros.
Asset Management revenues decreased 4 percent at 0.4 billion euros, mainly driven by lower management fees reflecting a lower average asset base, partly offset by higher transaction fees.
Average assets under management fell 7 percent from last year to 736 billion euros, reflecting unfavorable market effects.
Looking ahead for fiscal 2023, the company projects Group underlying earnings above 7.5 billion euros.
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