Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

AXA's first-half profit falls after writing down value of Equitable Holdings

AXA's first-half profit falls after writing down value of Equitable Holdings
FILE PHOTO: The logo of insurer Axa is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo GLOBAL BUSINESS WEEK AHEAD -
Copyright
Charles Platiau(Reuters)
Euronews logo
Text size Aa Aa

PARIS (Reuters) – French insurer AXA <AXAF.PA> said its net profit fell 17% in the first half of the year after booking charges related to the valuation of its remaining stake in Axa Equitable Holdings and the mark-to-market valuation of derivatives.

AXA, the second-largest European insurer after Allianz <ALVG.DE>, said its net profit fell to 2.33 billion euros ($2.6 billion) from 2.8 billion during the same period a year ago.

AXA’s overall revenues rose 8% to 57.95 billion euros.

Analysts polled by Refinitiv expected a net profit of 3.81 billion euros and a mean revenue of 55.21 billion euros.

(Reporting by Inti Landauro and Matthieu Protard; Editing by Sudip Kar-Gupta)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.