AXA revenue leaps by 7% to $87.76b

The insurer's Asia revenue grew by 8%.

AXA has released its nine-month performance report for the year that saw a growth of 7% to approximately $87.76b (€76b), which reflected growth in almost all of the insurer’s business segments.

Property & Casualty grew by 5%, with commercial lines growing at 7% mostly from favourable price effects, notably at AXA XL and stable revenues in personal lines. Health grew by 4% with continued growth across most geographies whilst Life & Savings grew by 12%, reflecting strong performance in Individual Savings in France, mostly in Unit-Linked, as well as strong growth in Asia primarily in Japan and Hong Kong. Meanwhile, asset management grew by 17%, driven by higher management and performance fees. 

In AXA’s Asia business, total revenue grew by 8% to €8.34b, with most of the revenue coming from Japan at €4.26.

“AXA continued to deliver excellent performance in the first nine months of 2021. Revenues increased overall by 7%, with all business lines and geographies contributing to this strong growth,” said Alban de Mailly Nesle, the chief financial officer of AXA.