# France’s AXA Q1 sales rise 2% as property policy demand grows
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-05-15
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: AXA Q1 Sales Up 2%: Property Policy Demand Grows
Meta Description: AXA reported a 2% increase in first quarter sales, driven by growth in property and casualty policies despite a decline in savings products revenue.
URL: https://financedigest.com/frances-axa-q1-sales-rise-2-as-property-policy-demand-growshtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2023-05-15t051356z1lynxmpej4e04qrtroptp4axa-results-1736814019495-compressed.jpg)

# France’s AXA Q1 sales rise 2% as property policy demand grows

PARIS (Reuters) -AXA, Europe’s second-biggest insurance company, said first quarter sales rose 2% from the same period a year earlier, as growth of its property and casualty policies offset a fall in revenue from savings products in France and Italy.

Group revenue over the three-month period ending in March amounted to 31.8 billion euros ($35.01 billion), up from 31.2 billion euros, the French insurer said in a statement.

First-quarter revenue from property and casualty policies were up 5%, while life insurance policies fell, dragged down by a 9% drop from lower premiums in savings-related products.

The French insurer said it expected to yield more than 7.5 [billion euros](https://www.financedigest.com/amazon-com-to-invest-over-1-billion-euros-in-european-electric-van-truck-fleet.html "Amazon.com to invest over 1 billion euros in European electric van, truck fleet") in underlying earnings this year, up from 6.1 billion euros in 2022, under new restated 2022 figures after the implementation of a new set of accounting standards.

The group’s solvency II ratio – a measure of its capital strength under the EU risk-measurement rules for [insurers](https://www.financedigest.com/different-countries-different-insurance-cultures-how-insurers-can-adapt-their-products.html "insurers") – stood at 217% at end-March, up 2 percentage points versus end-2022, driven by strong operational return.

AXA confirmed its 2023 financial [targets](https://www.financedigest.com/finance-industry-and-ddos-attacks-how-can-the-most-targeted-vertical-industry-protect-itself-from-ddos-attacks.html "Finance industry and DDoS attacks: how can the most targeted vertical industry protect itself from DDoS attacks?").

($1 = 0.9084 euros)

(Reporting by Mathieu Rosemain and Matthieu Protard;Editing by Sudip Kar-Gupta and Kim Coghill)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---