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    CS   FR0000120628

AXA

(CS)
  Report
Real-time Quote. Real-time Euronext Paris - 09/20 11:36:07 am
22.37 EUR   -3.14%
09:19aFORTUM OYJ : Closes on Sale of Stockholm Exergi Stake For $3.39 Billion
MT
09/13AXA : Elimination of the dilutive impact of Shareplan 2021
PU
09/10AXA : Receives a Buy rating from Barclays
MD
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

AXA 1st Half Net Profit, Revenue Rose on Better Property and Casualty Claims

08/02/2021 | 01:27am EDT

By Mauro Orru

AXA SA said Monday that net profit and revenue increased in the first half thanks to growth in all business lines, particularly improved property and casualty claims and a strong underwriting result at AXA XL, the company's property and casualty and specialty risk division.

The French insurance company said net profit rose to 4 billion euros ($4.75 billion) from EUR1.43 billion in the first half of 2020.

Underlying earnings for the period climbed to EUR3.64 billion from EUR1.89 billion. Revenue increased to EUR53.87 billion from EUR52.39 billion.

The result marks a turning point for the company, which took a EUR1.5 billion blow on 2020 underlying earnings from coronavirus-related property and casualty claims. AXA said they were less affected by such claims this year.

Annual premium equivalent, known as APE, rose 9% to EUR3.01 billion. APE measures new business growth by combining the value of payments on new regular premium policies, and 10% of the value of payments made on one-time, single-premium products.

AXA's solvency II ratio--a key measure of financial strength for insurance companies--was 212% at June 30, up from 200% at the end of December.

"This strong result was achieved across all our markets, and notably at AXA XL with very good underwriting performance. Taking advantage of the continued favorable pricing momentum, AXA XL is well-positioned to deliver its EUR1.2 billion earnings target in 2021 and sustainable and profitable growth beyond," Chief Executive Thomas Buberl said.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

08-02-21 0126ET

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Analyst Recommendations on AXA
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Financials
Sales 2021 98 932 M 116 B 116 B
Net income 2021 6 648 M 7 796 M 7 796 M
Net cash 2021 7 224 M 8 472 M 8 472 M
P/E ratio 2021 8,18x
Yield 2021 6,75%
Capitalization 53 413 M 62 684 M 62 638 M
EV / Sales 2021 0,47x
EV / Sales 2022 0,59x
Nbr of Employees 110 278
Free-Float 79,9%
Chart AXA
Duration : Period :
AXA Technical Analysis Chart | MarketScreener
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Technical analysis trends AXA
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 20
Last Close Price 22,37 €
Average target price 26,61 €
Spread / Average Target 19,0%
EPS Revisions
Managers and Directors
Thomas Buberl Chief Executive Officer & Director
Albam de Mailly Nesle Chief Financial & Investment Officer
Denis Pierre Marie Duverne Chairman
Astrid Stange Chief Operating Officer
Franšois Martineau Independent Director
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