AXA (AXAHY.PK) reported an improvement in first-quarter 2012 total revenues to 28.06 billion euros, from 27.57 billion euros in the earlier year quarter, with Life & Savings revenues stable at 15.96 billion euros.
Life & Savings' new business volume or APE rose 2% to 1.67 billion euros from last year's 1.58 billion euros, mainly driven by Protection & Health growth in General Account or G/A Protection & Health business up 6%, partly offset by a 2% decline in Unit-Linked APE and by a 1% drop in G/A Savings business.
Quarterly Property & Casualty revenues advanced by 3% to 9.97 billion euros from 9.51 billion euros in the comparable period in 2011. The company stated, "In Property & Casualty, we increased revenues, benefiting from the growth of our portfolio, sustained pricing and underwriting discipline. High growth markets delivered strong top line performance."
by RTT Staff Writer
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