AXA's H1 revenue down 10% to €52.4B

Thursday, 06. August 2020 07:16

AXA S.E. announced on Thursday that it booked gross revenues of €52.39 billion in the first six-months of 2020, 10% down compared to the same period the year before.

Insurance company's net income for the time period landed at €1.43 billion, plunging 39% compared to the results seen in the first half of 2019. Meanwhile, the company's underlying earnings per share (EPS) landed at €0.75, dipping 48% compared to last year's EPS of €1.46.

"In the first half of 2020, AXA demonstrated its resilience in the challenging context of the Covid-19 pandemic. Revenues were down 2%, to Euro 52 billion, reflecting strong growth in the first quarter offset by lower business activity in the second quarter", AXA's CEO Thomas Buberl said. "Growth in Health remained strong throughout the first six months of the year, at +9%, and price increases in P&C Commercial lines continued to accelerate," he added.

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Breaking the News / NL