AXA Posts Record $53 Billion Consolidated Revenue for 1st Nine Months

November 14, 2000

France’s AXA Group announced that consolidated revenues had risen 28.9 percent (14 percent on a comparable basis, which reconciles currency fluctuations and accounting procedures) to a record €61.8 Billion ($53.15 billion) for the first nine months of the year.

The main gains came in AXA’s life insurance and savings activities, which increased by 11.8 percent, on strong performances in France, up 25 percent, Belgium, up 25.3 percent and the U.S., up 10.7 percent. Property and casualty activities showed only modest gains of 3.3 percent overall to €11.965 ($10.29 billion).

The figures include the revenues of AXA Financial, AXA’s U.S. subsidiary, which in turn reflects income from investment bank Donaldson, Lufkin & Jenrette, which has since been sold to Credit Swiss First Boston, and the newly acquired fund manager Sanford Bernstein.

Was this article valuable?

Here are more articles you may enjoy.