NU Online News Service, Nov. 13, 6:23 p.m. – The AXA Group, Paris, is reporting the equivalent of $50 billion in revenue for the first three quarters, down 15% from revenue of $58 billion for the first three quarters of 2000.
The figures are based on an exchange rate of $1=1.12 euros for the 2001 figures, and of $1=1.06 for the 2000 figures.
AXA sells life insurance, investment products, property-casualty insurance, banking services and other products and services throughout the world.
Because AXA follows European accounting conventions rather than U.S. accounting conventions, it has not provided net income figures for the third quarter.