AXA reported an 8% decline in its 9M revenues to €73,385m. The business mix continued to follow the projected trend, with lower G/A Savings (-23% to €6,782m) and higher Health (+4% to €757m) and Protection (+2% to €11,405m) sales. AXA XL’s revenues were up 1% to €13,960m while the management is taking action to enhance profitability and will inject €1bn into its capital. The Solvency II ratio was 180% and COVD-19 related claims were reaffirmed at €1.5bn.
04 Nov 2020
AXA XL bears the highest cost, but the group remains solid
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AXA XL bears the highest cost, but the group remains solid
AXA reported an 8% decline in its 9M revenues to €73,385m. The business mix continued to follow the projected trend, with lower G/A Savings (-23% to €6,782m) and higher Health (+4% to €757m) and Protection (+2% to €11,405m) sales. AXA XL’s revenues were up 1% to €13,960m while the management is taking action to enhance profitability and will inject €1bn into its capital. The Solvency II ratio was 180% and COVD-19 related claims were reaffirmed at €1.5bn.