Axa profit down on life sale losses

first_img Tags: NULL Axa profit down on life sale losses FRENCH insurer Axa saw its 2010 profits cut by almost a quarter after losing €1.64bn (£1.38bn) from the sale of part of its UK life business last year, it said yesterday.Profit fell 24 per cent to €2.75bn from €3.6bn after it sold the majority of its life business to closed-end life manager Resolution for £2.75bn last June to better focus its UK work.But Europe’s second-biggest insurer said it would raise its dividend 25 per cent to €0.69 this year due to a better business environment in 2011.“2010 was also characterised by significant strategic moves and organisational changes,” said Axa chief executive Henri de Castries. Axa’s group revenues were flat at €90.97bn, as were its underlying earnings, which rose to €3.88bn from €3.85bn in 2009. Thursday 17 February 2011 8:35 pm More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comColin Kaepernick to publish book on abolishing the policethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapp Share Show Comments ▼ KCS-content whatsapp last_img

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