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AXA: H1 net income down 39%

( - AXA has reported H1 2020 net income that is down 39% at 1.
4 billion euros, with an underlying operating profit that is down 48% at 1.9 billion euros, while revenues were down 2% at constant exchange rates at 52.4 billion euros.

However, the insurance company underlined that excluding 1.5 billion euros of Covid-19 related claims and the impact of the deconsolidation of EQH, its operating profit increased by 1%.

AXA has decided not to propose any exceptional distribution of reserves in Q4 2020, and has withdrawn its targets presented in the Ambition 2020 plan.

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