AXA Q3: growth in all business lines

European insurer AXA enjoyed strong results for the first nine months of 2014, driven by growth in all business lines.

The insurer’s total revenues grew by 2 percent to €69.6 billion in the first nine months of 2014, compared with €69.5 billion in the same period of the prior year.

The insurer posted 2 percent growth in its life and savings segment, 2 percent growth in its property and casualty segment and 3 percent growth in its asset management segment.

“For the first nine months of 2014, we have seen growth in all our business lines, demonstrating the continued success of our Ambition AXA strategy. Thanks to the engagement of our teams and the trust of our clients, we continue to protect and bring peace of mind in a rapidly evolving environment,” said Denis Duverne, deputy chief executive officer of AXA.

“In life & savings, new business volumes continued to grow in the third quarter. Year-to-date, we have achieved a double-digit increase in sales in high growth markets and, in mature markets, experienced the continued success of our hybrid savings offers which are well suited to the low interest rate environment.

“We have maintained our selective growth strategy in property & casualty, with an overall growth driven particularly by commercial lines and the direct distribution channel. We expect a similar growth trend to be maintained for the rest of the year.

“Our asset management business is also advancing well, recording positive net flows for the eighth consecutive quarter while assets under management surpassed €1 trillion.”