France’s AXA Group reported gains in all sectors for the first nine months of 2006, with life and savings entities leading the way. New business volume in the sector rose 14 percent to €4.473 billion ($5.72 billion). France increased 17 percent; the US 2 percent; the UK 28 percent and Japan 17 percent.
Property & Casualty revenues increased by 4 percent to €15.333 billion ($19.6 billion). “Personal lines were up 5 percent with a strong contribution from the UK & Ireland and Southern Europe, as well as favorable evolution in France and Belgium household and Germany motor lines,” said the announcement. “Commercial lines were up 3 percent, mainly driven by France, Belgium and the UK. Growth also stemmed from markets such as Turkey up 20 percent and Asia up 11 percent.”
“After a very strong performance in the first half of 2006, our Life & Savings business growth remains above our long term target over 9 months, while our Asset Management activities have continued their exceptional growth into the third quarter” noted Chief Executive Officer Henri de Castries. “We are particularly pleased to see our Property & Casualty revenues development well in line with our long-term objectives and clearly demonstrating our ability to attract new clients.”
“This achievement confirms our capacity to profitably grow market share and makes us confident in our ability to meet our top-line long-term growth targets again this year.”
The full report and additional comments may be obtained on the Group’s Website at: http://www.axa.com.
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