Reuters: French insurer AXA announced a fresh share buyback programme as it achieved a 3% gain in first-half net profit. Higher earnings from health insurance overcame the financial impact of the Ukraine crisis.
AXA, Europe’s second-largest insurer behind Germany’s Allianz (ETR:ALVG), earned 4.1 billion euros ($4.2 billion) last year.
AXA said it would buy back up to 1 billion euros in shares, matching Italian rival Generali (BIT: GASI).
As a result of Russia’s invasion of Ukraine, the global insurance business is at risk of huge claims, yet AXA is confident in fulfilling its 2023 growth targets.
“We’re certain we can accomplish the goals of ‘driving progress in 2023,'” stated deputy CEO Frédéric de Courtois.
$1=0.9815 euros
