PARIS (dpa-AFX) - Axa SA (AXA), a French insurance and asset company, on Friday reported a decline in net profit for the first half, mainly due to unfavorable foreign exchange impacts.
For the six-month period, Axa registered a net profit of EUR 3.922 billion, less than EUR 4.020 billion in the same period last year.
Underlying earnings stood at EUR 4.465 billion, higher than EUR 4.244 billion a year ago. Underlying earnings per share increased by 8% to EUR 2.03, mainly driven by the favorable impact of share repurchases, lower financial charges related to undated and deeply subordinated debts.
Gross written premiums and other revenues moved up to EUR 64.251 billion from the previous year's EUR 59.872 billion. Gross written premiums and other revenues from Property and Casualty segment were EUR 34.097 billion as against EUR 32.522 billion in 2024.
Looking ahead, Axa said: 'Management is confident in achieving underlying earnings per share growth in 2025 in line with the 6-8% CAGR plan target range over the 2023-2026 period.'
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