AXA Asia Pacific Holdings, the Australian arm of French insurer AXA, has seen first half profits more than double thanks to disposals and the performance of its wealth management business.
AXA APH reported an interim net profit before non-recurring items of A$287m (£118.8m) for the six months to June - up from A$134m in the same period in 2002.
However, net profits including disposals rocketed 389% to A$655m (£271.2m). The result was boosted by significant one-off profits from the sale of AXA Health and the group's 50% stake in Members Equity.
The company's health insurance unit was sold to UK insurer British United Provident Association (BUPA) and Macquarie Bank earlier this year.
AXA APH's Australian and New Zealand wealth management business lifted its operating earnings 13% to A$43m (£17.8m) despite the impact of challenging investment markets.
