AXA prof­its hit by floods in Europe

The Myanmar Times - - International Business -

French in­surer AXA’s net profit climbed 4 per­cent in the first half of 2016 to 3.2 bil­lion eu­ros (US$4 bil­lion) as rain and flood­ing in Ger­many and France held back earn­ings. The re­sult, lower than the con­sen­sus fore­cast of an­a­lysts, was boosted by one-off items such as the sale of two build­ings in New York City. Rev­enues dipped by 1 per­cent to 54 bil­lion eu­ros.

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