AXA reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis.
The company, Europe’s second-biggest insurer after Allianz, said it expected underlying earnings per share to grow at the high end of its 3% to 7% target range by 2023, and cumulative cash to exceed its 14-billion-euros [$15.9 billion] target during 2021 to 2023.
AXA’s net income jumped to 7.29 billion euros [$8.3 billion] in 2021 from 3.16 billion euros [$3.6 billion] a year earlier, beating analysts’ estimates of 6.72 billion euros [$7.6 billion], according to Refinitiv IBES data.
Full-year revenue rose 3% to 99.93 billion euros, slightly below estimates of 99.98 billion euros.
(Reporting by Matthieu Protard; editing by Jacqueline Wong and Shounak Dasgupta)
Topics Profit Loss
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