Insurance giant’s balance sheet not affected by subprime, claims chairman
AXA has posted its 2007 results, showing a 27% rise in underlying earnings to Euro 4,963m (£3,788m), and net income up 11% to Euro 5,666 million.
The French group saw solid growth across all segments, including 10% in life and savings; 8% in property and casualty; and 21% in asset management.
Adjusted earnings rose to Euro 6,138 million, up 22% on a reported basis.
Henri de Castries, chairman of AXA’s management board, said: “2007 was another year of solid performance, with underlying earnings per share growth outpacing our Ambition 2012 target. The reported numbers reflect the combination of a strong organic growth in all our business lines, the successful integration of Winterthur and confirm that the strength of our balance sheet is not affected by the subprime crisis.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
