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July 24, 2002 at 08:00 PM
NU Online News Service, July 24, 1:20 p.m. –The AXA Group, Paris, says it has been doing well despite the recent turmoil in world stock markets.
“The strong fall in the equity markets over the last few months, particularly impacting certain industries among the insurance sector, is disconnected with the fundamentals of the economy,” AXA says in a statement.
AXA has about 16% of its assets invested in stocks, and low prices may cut profit margins for some types of stock-linked products, AXA concedes.
