Home Economy Insurer AXA drops 2020 earnings guidance, will not make additional payout in 2020

Insurer AXA drops 2020 earnings guidance, will not make additional payout in 2020

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PARIS (Reuters) – French insurer AXA dropped its 2020 earnings target and added it would not make additional payouts to shareholders in the fourth quarter following a 40% decline in first-half net income.

AXA, the second-largest European insurer after Allianz, said net profit fell to 1.43 billion euros ($1.70 billion) from 2.33 billion during the same period a year ago. AXA’s overall revenues fell by 10% to 52.4 billion euros.

($1 = 0.8418 euros)

Reporting by Maya Nikolaeva and Matthieu Protard; Editing by Sudip Kar-Gupta

Our Standards:The Thomson Reuters Trust Principles.

The Source :- Reuters

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