AXA reported a slightly stronger-than-expected rise in first-half revenues on Thursday, boosted in particular by growth in its property-casualty and life and health insurance businesses.

For the first six months of the year, the French insurer posted gross written premiums and other revenues of 59.9 billion euros, up 7% year-on-year, above analysts' expectations, who were counting on a median result of 59.4 billion euros in a consensus compiled by AXA.

In a press release, the Group notes that this performance was driven by a 7% rise in property-casualty revenues, "underpinned by growth in commercial insurance". In life and health insurance, premiums were also up by 7%, says AXA.

Underlying earnings rose by 4% to 4.2 billion euros, while AXA's solvency ratio, a key measure of its financial health, stood at 227% at the end of June.

The insurer, which also announced on Thursday the acquisition of Italy's Gruppo Nobis, as well as a separate agreement with BNP Paribas for the sale of AXA Investment Managers and the conclusion of a more comprehensive agreement with the French bank, confirmed its ability to achieve the annual targets set out in its strategic plan.

(Written by Augustin Turpin, edited by Camille Raynaud)