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February 27, 2003 at 07:00 PM
NU Online News Service, Feb. 27, 4:28 p.m. – AXA S.A., Paris, is reporting the equivalent of $995 million in net income for 2002 on $78 billion in revenue, up from $461 million on $66 billion in revenue for 2001.
The company’s life insurance unit generated $1.7 billion in operating earnings for the year on $51 billion in revenue, up from $1.5 billion in operating earnings on $43 billion in revenue.
Operating earnings at the U.S. life unit increased to $1.7 billion, from $1.5 billion.
When stated in U.S. dollars, AXA’s earnings benefit from a sharp increase in the strength of the euro relative to the dollar.
