Crisis in the USA has done much harm to the insurance companies
Axa SA’s chief executive Henri de Castries has declared, that crisis in the American hypothecary market, which has led to decrease in profits of banks worldwide, has rendered the “limited” influence on insurers.
At press conference in Bruxelles Henri de Castries has told that banks have suffered from deficiency of liquidity, which does not influence business-model of insurance and it has rendered on their financial investments the moderate, but rather limited influence.
On November, 13th Axa, the second-largest European insurer, has declared, that instability in the financial markets does not influence volumes of operations. The company has confirmed the forecast of profit till 2012.
On September, 30th Axa has informed, that the cost of the actives, connected with bad quality hypothecary credits and subject to risk, makes 2,9 billion euro. In the end of the first half-year the company operated actives in volume of 1,38 billion euro. On results of the last year its profit has reached 5,1 billion euro.