Axa Group posts decline in revenue for first quarter
The group saw a €400m drop in revenue.
Axa Group has posted revenue of €28.5bn (£23.4bn) for the first quarter of 2014.
This is compared with €28.9bn reported for the same period last year.
The provider’s UK arm reported revenue of €155m, up from the €153m posted in the first quarter of 2013.
According to Axa, within property & casualty, personal lines revenue increased by 2%, which was partly driven by higher volumes in the UK & Ireland operation.
However, the company’s revenue growth was impeded by lower average premiums mainly in
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