Axa reported a profit that more than doubled from last year. This is with the French insurer recovering from pandemic related claims. Mainly during the peak of the COVID-19 crisis.
The company is Europe’s second-biggest insurer after Allianz. They said that it expected underlying earnings per share to grow at the high end of its 3% to 7% target range by 2023. The cumulative cash to exceed its 14-billion-euros target. Axa’s net income jumped to 7.29 billion euros in 2021. Previously it was at 3.16 billion euros a year. This also beats the analysts’ estimates of 6.72 billion euros. Full-year revenue rose 3% to 99.93 billion euros. And that is slightly below the estimates of 99.98 billion euros.