Even though net income will be reduced by around 100 million Euros ($98 million) caused by the year-end storms which struck France, AXA S.A. announced a significant estimated earnings increase of 15 percent over 1998 figures. Total revenues were expected to exceed $65 billion, a 17.4 percent increase, when the company releases its 1999 results next month.
A large portion of the gain is attributable to the excellent results achieved by U.S. subsidiary AXA Financial. Life insurance revenues rose 14.3 percent to $36.2 billion. Investment management income increased to $1.9 billion, and revenues from investment banking subsidiary Donaldson Lufkin & Jenrette, buoyed by strong 4th quarter pre tax earnings of $303.5 million, climbed 23.6 percent, a whopping 173 percent gain over the last quarter of 1998.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
France Makes New Arrests in Louvre Heist; Jewels Still Not Found 
Starr Acquiring IQUW; Starr Managing Agency to Be Among 10 Largest at Lloyd’s 
