SUSTAINED ORGANIC GROWTH PARIS, Jan. 31 /PRNewswire-FirstCall/ --
-- Life and Savings new business volume (APE) was up 24% to Euro
7,694 million, or 8% on a comparable basis(2), reflecting continued
organic growth momentum notably in the United States and Australia
while Japan's growth remained negative. Unit linked share of total
APE reached 54% fuelled by Accumulator-type products(3) (up 46% to
Euro 1,107 million). -- Property & Casualty revenues increased
by 28% to Euro 25,016 million, or 4% on a comparable basis(2) with
all major countries showing positive organic growth, notably the UK
and the Mediterranean Region. Personal lines were up 5% boosted by
strong Personal Motor and Household net new contracts reaching
respectively 1,095,000 and 342,000 contracts, while Commercial
lines were up 2%. -- Asset Management revenues increased by 10% to
Euro 4,863 million, or 17% on a comparable basis(2), driven by
higher average Assets Under Management and business mix
improvement. Both AllianceBernstein and AXA IM revenues grew at a
strong double digit pace. (1) Annual Premium Equivalent (APE)
represents 100% of new business regular premiums + 10% of new
business single premiums. APE is Group share. (2) Changes on a
comparable basis were calculated at constant FX and scope (notably
Winterthur's contribution was included in both 2006 and 2007
figures). (3) AXA's principal Variable Annuity products. * * *
Change Change on (Euro million, except FY06 FY07 a reported
Comp.(a) Scope & FX when otherwise noted) basis basis Other
impact(b) Life & Savings New Business 6,186 7,694 +24.4 % +7.7
% +20.7 % -4.1 % Volume(c) Property & Casualty revenues 19,510
25,016 +28.2 % +3.9 % +25.2 % -0.8 % International Insurance
revenues 3,716 3,568 -4.0 % +7.1 % -9.8 % -1.2 % Asset Management
Revenues 4,406 4,863 +10.4 % +17.2 % +0.4 % -7.2 % Net inflows
(Euro billion) 73 28 Total revenues 77,966 93,633 +20.1 % +5.4 %
+18.3 % -3.6 % (a) Change on a comparable basis was calculated at
constant FX and scope (notably Winterthur's contribution was
included in both 2006 and 2007 figures). (b) Mainly due to
continued appreciation of the Euro against US Dollar, Yen and CHF.
(c) Group share APE (Annual Premium Equivalent). "FY07 activity
indicators reflected strong organic performance and positive
contribution from Winterthur," said Henri de Castries, Chairman of
the AXA Management Board. "In Life & Savings, Accumulator-type
products represented 14% of 2007 new business volume with strong
growth continuing in 4Q07 (+51% year-on-year). This new generation
of products is particularly well positioned in the context of a
more challenging market and their global roll-out should allow AXA
to continue to perform well." "The Property & Casualty revenues
demonstrated good resilience in a competitive pricing environment,
especially in retail lines, with a strong contribution of direct
business and emerging markets." "Our Asset Management business
recorded high double digit revenue growth despite a slowdown in net
inflows in the second half of the year." Numbers herein have not
been audited. APE is in line with the Group's EEV disclosure. APE
and EEV are non-GAAP measures, which Management uses as key
indicators of performance in assessing AXA's Life & Savings
business and believes to provide useful and important information
to shareholders and investors. IFRS revenues are available in
Appendix 3 of this release. * * * LIFE & SAVINGS Life and
Savings new business volume (APE) was up 24% to Euro 7,694 million,
or 8% on a comparable basis, reflecting continued organic growth
momentum notably in the United States and Australia while Japan's
growth remained negative. Unit linked share of total APE reached
54% fuelled by Accumulator-type products(4) (up 46% to Euro 1,107
million). Annual Premium Equivalent, Change on Change on a Group
share (Euro million) December 31, December 31, a reported
comparable 12 months ended 2006 2007 basis Life & Savings 6,186
7,694 24.4 % 7.7 % United States 1,922 2,099 9.3 % 19.1 % France(a)
1,231 1,360 10.5 % 2.8 % Japan 651 567 -12.9 % -17.5 % United
Kingdom 1,134 1,588 40.1 % 6.1 % Germany 287 457 59.4 % 0.2 %
Switzerland(a) - 222 - 1.8 % Belgium 300 340 13.3 % 8.3 %
Mediterranean Region 143 206 44.2 % -4.8 % Central & Eastern
Europe - 107 - 58.5 % Australia/New Zealand 420 545 30.0 % 24.9 %
Hong Kong(b) 100 139 39.5 % 12.3 % South East Asia & China(c) -
63 - 75.0 % (a) Consistent with AXA methodology, FY07 APE include
actual voluntary additional premiums for AXA France and AXA
Switzerland of respectively Euro 132 million and Euro 20 million.
Change on a comparable basis includes respectively Euro 92 million
and Euro 15 million in 2006. (b) MLC which was acquired on May 8,
2006 contributed Euro 13 million to Hong Kong Life & Savings
APE in 2007. MLC APE is excluded from the calculation of change on
a comparable basis. (c) South East Asia & China APE was not
modeled in 2006. The following comments are on a comparable basis.
The United States new business APE increased by 19% to Euro 2,099
million due to strong growth in sales of Variable Annuities (up
20%) as well as in Life products. Variable Annuities growth was
primarily driven by the continued expansion in the third party
distribution networks, especially independent financial advisory
firms. The addition of certain new product features also
contributed to the increase in sales. The Universal life product
range was enhanced with the launch of an updated product in 2007
(Athena). France new business APE increased by 3% to Euro 1,360
million driven by both Individual lines and Group business despite
a contracting insurance market. In Individual lines, the
Accumulator-type product "Capital Ressources" launched in March
2007 recorded Euro 23 million APE. Group business growth was
largely driven by Life & Health while Group retirement remained
stable following a strong 2006 performance. Unit linked share of
total APE was stable at 25%. Japan new business APE decreased by
18% to Euro 567 million as certain Term products no longer benefit
from a favorable tax environment. The lower Term product sales were
partly offset by strong performance from medical and cancer product
sales as part of the company's strategy to focus on these more
profitable products (Euro +76 million) and the sales of US Dollar
and Yen denominated variable annuity products (Euro +52 million)
resulting in AXA increasing its bancassurance market share and
becoming one of the top ten players. Unit linked share of total APE
increased to 21%. United Kingdom new business APE was up 6% to Euro
1,588 million. Wealth management was up 7% due to (i) individual
pension business (up 14%) reflecting the strength of the combined
AXA/Winterthur Individual pension offering as well as (ii) strong
performance in the Offshore Estate Planning Bond (up 68%), partly
offset by (iii) a drop in Offshore Bonds cash sales (-36%)
resulting from a change in the tax environment for these products
in 1Q07 and affecting negatively AXA UK's APE growth momentum in
2H07. Protection business was up 27% driven by new distribution
contracts and improved propositions to IFAs as well as effective
direct marketing campaigns. Group pension was up 2%. Germany new
business APE was stable at Euro 457 million principally due to (i)
a strong growth in Investment & Savings (+12%), with notably
the "TwinStar" Accumulator-type product (Euro 84 million), (ii) the
non recurrence of 2006 large cases in Life Group business and (iii)
the negative impact of traditional Riester products (notably in
Winterthur's portfolio) which had benefited in 2006 from strong
inflows as a result of a fiscal incentive. Unit linked share of
total APE was 38%. Switzerland new business APE increased by 2% to
Euro 222 million with (i) Individual Life & Savings up 16%
reflecting the continuous increase in sales of new Unit Linked
products (+148%) which were launched in October 2006 (WinLife
Variant) and May 2007 (AXA Comfort), partly offset by (ii) Group
life down 3%. Unit linked share of total APE increased to 8%.
Belgium new business APE was up 8% to Euro 340 million due to (i)
Individual life (+5% to Euro 307 million) driven by both non unit
linked (largely Crest 40) and unit linked products (Twinstar
launched in September 2007), and (ii) Group business (+60% to Euro
33 million including Euro 6 million from a 2007 large contract).
Unit linked share of total APE was 14%. Mediterranean Region new
business APE decreased by 5% to Euro 206 million as a result of a
drop in Group business (down 28%) due to the non recurrence of a
2006 outsourcing of pension fund contract in Spain. This was partly
offset by the increase in Individual business (+ 2%) notably driven
by the contribution of the Accumulator product (Euro 13
million)(5). Unit linked share of total APE was 18%. Central &
Eastern Europe new business APE was up 59% to Euro 107 million,
mainly driven by Life and Savings business (+128% to Euro 48
million), benefiting from strong unit linked sales (+128% to Euro
44 million) and gains in market share in the Pension Fund business
(+27% to Euro 59 million). Main countries contributing to the
growth were Czech Republic (+82% to Euro 37 million) and Poland
(+56% to Euro 49 million). Australia/New Zealand new business APE
was up 25% to Euro 545 million mainly driven by continued strong
inflows into Global Equity Value fund and ipac wholesale products,
in addition to strong personal superannuation flows into Summit
& Generations platforms. Hong Kong new business APE was up 12%
to Euro 139 million, reflecting strong growth in individual unit
linked regular premiums and group retirement sales and encouraging
results from the new Citibank bancassurance agreement (signed in
July 2007). South East Asia & China new business APE was up 75%
to Euro 63 million. Philippines was up +126% to Euro 8 million due
to strong unit linked sales notably in the bancassurance channel,
Indonesia was up +112% to Euro 21 million as clients moved to unit
linked products due to reduced local bank deposit rates, Thailand
was up +70% to Euro 14 million due to successful agent recruitment
and improvements in bancassurance, Singapore was up 25% to Euro 14
million and China was up 93% to Euro 5 million. (4) AXA's principal
Variable Annuities products (5) AXA Spain and AXA Assicurazioni.
AXA-MPS sales were not consolidated at FY07. PROPERTY &
CASUALTY Property & Casualty revenues increased by 28% to Euro
25,016 million, or 4% on a comparable basis with all major
countries showing positive organic growth, notably the UK and the
Mediterranean Region. Personal lines were up 5% boosted by strong
Personal Motor and Household net new contracts reaching
respectively 1,095,000 and 342,000 contracts, while Commercial
lines were up 2%. IFRS Revenues Change on Change on a 12 months
ended December 31, December 31, a reported comparable (Euro
million) 2006 2007 basis basis Property & Casualty 19,510
25,016 +28.2 % +3.9 % France 5,187 5,330 +2.7 % +2.7 % United
Kingdom & Ireland 4,721 5,076 +7.5 % +7.6 % Mediterranean
Region 3,822 5,276 +38.0 % +5.1 % of which Turkey/Greece/ Morocco
670 892 +33.1 % +16.6 % Germany 2,745 3,506 +27.7 % +1.7 % Belgium
1,511 2,112 +39.8 % +0.5 % Switzerland 94 1,974 n/a +0.1 % Other
countries 1,431 1,743 +21.8 % +6.9 % of which Canada 1,056 1,080
+2.3 % +5.4 % of which Asia(a) 306 571 +86.9 % +10.2 % (a)
Singapore, Hong Kong, Japan, Malaysia and Korea in 2007 (Change on
a comparable basis excludes Korea figures in both 2006 and 2007).
The following comments are on a comparable basis. Personal lines
(60% of P&C premiums) were up 5%. Motor revenues grew by 5%
mainly driven by (i) the Mediterranean Region up 8%, following new
product launches in 2006 and 2007 (mainly "Protezione al volante"
in Italy and "Dynamic 2" in Spain) and new segmented tariffs
notably in Turkey, (ii) the UK & Ireland up 21%, largely as a
result of the new business written through its Internet company,
Swiftcover, which benefited from increased volumes through
aggregator websites, (iii) Asia up 15% which confirmed its strong
momentum, and partly offset by (iv) Germany (+1%), France (+0%) and
Switzerland (-1%), recording positive net new contracts in a
context of softening markets. Non-motor revenues increased by 5%
mainly driven by (i) the UK & Ireland (+9%) as a result of
strong performance in both Health and Travel businesses, (ii)
Mediterranean Region (+6%) with positive contribution of all
business lines and (iii) France and Germany, both up 2%. Commercial
lines (38% of P&C premiums) were up 2%. Motor revenues were up
2%, with strong growth (i) in Germany (+5%) due to a higher number
of vehicles in the existing fleets, (ii) in France (+2%) following
increase in tariffs and (iii) in the UK (+5%), partly offset by
(iv) Mediterranean Region (-4%) due to a lower contribution from
former Winterthur fleet rental business further to a strategic
decision, and Belgium (-2%). Non-motor revenues were up 2%, with
France (+7%) mainly driven by Construction and the UK (+3%) largely
driven by Health, partly offset by Belgium (-4%) due to the
non-renewal of some less profitable contracts. * * * ASSET
MANAGEMENT Asset Management revenues increased by 10% to Euro 4,863
million, or 17% on a comparable basis, driven by higher average
Assets Under Management and business mix improvement. Both
AllianceBernstein and AXA IM revenues grew at a strong double digit
pace. AllianceBernstein revenues increased by 15% on a comparable
basis to Euro 3,130 million, largely due to higher base fees (+25%,
with +28% in institutional clients, +20% in retail clients and +24%
in private clients) driven by higher average assets under
management (+21%) partly offset by lower performance fees (-66%),
especially on hedge funds. Other revenues (mainly distribution
fees, institutional research and other fees) were up 10%. AXA
Investment Managers revenues increased by 21% on a comparable basis
to Euro 1,732 million, mainly due to higher average assets under
management. The favorable client and product mix evolution was
offset by a slight decrease in performance fees. Assets Under
Management were Euro 1,092 billion as of December 31, 2007 as a
result of positive net inflows (Euro +28 billion), market
appreciation (Euro +45 billion), scope impact (Euro +68 billion,
mainly transfers from Winterthur), partly offset by a negative
exchange rate impact (Euro -77 billion). AllianceBernstein net
inflows of Euro 23 billion were strong across all client categories
(Euro 13 billion from institutional, Euro 4 billion from retail and
Euro 6 billion from private clients). 4Q07 net inflows rebounded
compared to 3Q07 on the back of strong institutional net inflows of
Euro 6 billion. AXA Investment Managers net inflows of Euro 5
billion were driven by Institutional clients (Euro 5 billion) and
AXA Main Fund (Euro 1 billion) partly offset by retail segment
(Euro -2 billion). AXA Investment Managers recorded third party net
outflows of Euro 8 billion in certain lower margin funds (Money
Market funds) in 2H07. FY 2007 AUM Roll-forward In Euro billion
Alliance AXA IM Total Bernstein AUM at FY06 544.1 484.6 1,028.7 Net
inflows 23.5 4.8 28.2 Market appreciation 37.5 7.1 44.6 Scope
impact - 67.7 67.7 Other impacts - -0.1 -0.1 Forex impact -61.6
-15.7 -77.3 AUM at FY07 543.5 548.4 1,091.9 Change on a reported
basis 19 % 11 % 15 % Change on a comparable basis 21 % 21 % 21 %
Average AUM over the period 566.7 546.8 1,113.6 * * * INTERNATIONAL
INSURANCE: International Insurance revenues were down 4% to Euro
3,568 million, or up 7% on a comparable basis, with AXA Corporate
Solutions Assurance up 7% and AXA Assistance up 13%. IFRS Revenues
Change on Change on a 12 months ended December 31, December 31, a
reported comparable (Euro million) 2006 2007 basis basis
International Insurance 3,716 3,568 -4.0 % +7.1 % * AXA Corporate
Solutions Assurance 1,689 1,805 +6.9 % +7.4 % * AXA Assistance 621
699 +12.6 % +13.4 % * AXA Cessions 56 67 +20.4 % +8.9 % * Other
transnational activities(a) 1,351 996 -26.3 % -24.7 % (a) Other
transnational activities include AXA RE. The sale of AXA RE's
business to Paris Re Holdings was completed on December 21, 2006.
AXA RE's gross written premiums, reported under "Other
Transnational Activities" amounted to Euro 896 million for 2007
versus Euro 1,217 million for 2006. 100% of the business fronted on
behalf of Paris Re was retroceded to Paris Re Holdings or its
affiliates and therefore these amounts have been excluded from
comparison on a comparable basis. The fronting agreement was
terminated on October 1st, 2007. * * * About AXA AXA Group is a
worldwide leader in Financial Protection. AXA's operations are
diverse geographically, with major operations in Europe, North
America and the Asia/Pacific area. IFRS revenues amounted to Euro
94 billion for full year 2007. The AXA ordinary share is listed on
Eurolist A of Euronext Paris under the ticker symbol CS (ISIN
FR0000120628 - Bloomberg: CS FP - Reuters: AXAF.PA). The American
Depository Share is also listed on the NYSE under the ticker symbol
AXA. AXA Investor Relations: Etienne Bouas-Laurent:
+33.1.40.75.46.85 Paul-Antoine Cristofari: +33.1.40.75.73.60
Emmanuel Touzeau: +33.1.40.75.49.05 George Guerrero:
+1.212.314.2868 AXA Media Relations: Christophe Dufraux:
+33.1.40.75.46.74 Clara Rodrigo: +33.1.40.75.47.22 Laurent
Secheret: +33.1.40.75.48.17 Armelle Vercken: +33.1.40.75.46.42 Mary
Taylor: +1.212.314.5845 Individual shareholders: +33.1.40.75.48.43
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING
FORWARD- LOOKING STATEMENTS Certain statements contained herein are
forward-looking statements including, but not limited to,
statements that are predications of or indicate future events,
trends, plans or objectives. Undue reliance should not be placed on
such statements because, by their nature, they are subject to known
and unknown risks and uncertainties. Please refer to AXA's Annual
Report on Form 20-F and AXA's Document de Reference for the year
ended December 31, 2006, for a description of certain important
factors, risks and uncertainties that may affect AXA's business. In
particular, please refer to the section "Special Note Regarding
Forward-Looking Statements" in AXA's Annual Report on Form 20-F.
AXA undertakes no obligation to publicly update or revise any of
these forward-looking statements, whether to reflect new
information, future events or circumstances or otherwise. APPENDIX
1 LIFE & SAVINGS - Breakdown of APE between unit linked, non
unit linked and mutual funds 12 main countries/regions and modeled
business Full Year 2007 - Group Share % UL in APE (excl. FY07 APE
mutual funds) UL change on Mutual comparable Euro million UL Non-UL
Funds FY06 FY07 basis France 343 1,018 25 % 25 % + 10 % United
States 1,227 423 449 75 % 74 % + 24 % Japan 120 447 9 % 21 % + 41 %
United Kingdom 1,446 143 89 % 91 % + 5 % Germany 172 285 42 % 38 %
+ 34 % Switzerland 19 202 1 -- 8 % +148 % Belgium 47 293 13 % 14 %
+ 7 % Mediterranean Region 34 159 13 8 % 18 % - 6 % Central &
Eastern Europe 77 28 2 -- 73 % + 62 % Australia/New Zealand 14 35
496 27 % 29 % + 1 % Hong Kong 74 65 38 % 53 % + 12 % South East
Asia & China 30 29 2 -- 51 % + 85 % TOTAL 3,603 3,127 962 50 %
54 % + 16 % APPENDIX 2 PROPERTY & CASUALTY - Split by business
line - Full Year 2007 Personal Personal Commercial Commercial Motor
Non-Motor Motor Non-Motor Change Change Change Change on on on on %
Gross comp. % Gross comp. % Gross comp. % Gross comp. Revenues
basis Revenues Basis Revenues Basis Revenues basis France 32 % + 0
% 27 % + 2 % 8 % + 2 % 32 % + 7 % United Kingdom(a) 15 % +21 % 37 %
+ 9 % 7 % + 5 % 40 % + 3 % Mediterranean Region 53 % + 8 % 18 % + 6
% 6 % - 4 % 22 % + 2 % Germany 30 % + 1 % 33 % + 2 % 6 % + 5 % 24 %
+ 1 % Belgium 34 % + 3 % 25 % + 4 % 7 % - 2 % 33 % - 5 %
Switzerland 35 % - 1 % 16 % - 3 % 4 % + 7 % 46 % + 1 % Canada 34 %
+ 8 % 17 % +13 % 8 % + 1 % 40 % + 0 % Other 71 % +20 % 8 % + 9 % 5
% + 4 % 16 % +13 % TOTAL 34 % + 5 % 26 % + 5 % 7 % + 2 % 31 % + 2 %
(a) Including Ireland APPENDIX 3 - AXA GROUP IFRS Revenues -
Comparison FY07 vs. FY06 Euro million FY 2006 FY 2007 IFRS revenue
change IFRS IFRS Reported Comp. basis Life & Savings 49,952
59,845 19.8 % 5.2 % United States 15,389 16,243 5.5 % 15.1 % France
14,797 15,045 1.7 % 1.7 % Japan 5,027 5,116 1.8 % 0.1 % United
Kingdom 4,292 4,628 7.8 % 0.6 % Germany 3,681 6,200 68.5 % -0.8 %
Switzerland 141 4,116 n/a -0.4 % Belgium 2,512 3,072 22.3 % 11.5 %
Mediterranean Region 1,476 1,918 29.9 % -4.7 % Other countries
2,637 3,507 33.0 % 8.7 % of which Australia/ New Zealand 1,254
1,384 10.4 % 6.7 % of which Hong Kong(a) 1,041 1,257 20.8 % 4.4 %
of which Central & Eastern Europe -- 423 n/a 12.7 % of which
South East Asia 180 257 42.2 % 35.4 % Property & Casualty
19,510 25,016 28.2 % 3.9 % France 5,187 5,330 2.7 % 2.7 % United
Kingdom + Ireland 4,721 5,076 7.5 % 7.6 % Mediterranean Region
3,822 5,276 38.0 % 5.1 % Germany 2,745 3,506 27.7 % 1.7 % Belgium
1,511 2,112 39.8 % 0.5 % Switzerland 94 1,974 n/a 0.1 % Other
countries 1,431 1,743 21.8 % 6.9 % International Insurance(b) 3,716
3,568 -4.0 % 7.1 % AXA Corporate Solutions Assurance 1,689 1,805
6.9 % 7.4 % Others 2,028 1, 763 -13.1 % 6.6 % Asset Management
4,406 4,863 10.4 % 17.2 % AllianceBernstein 2,961 3,130 5.7 % 15.3
% AXA Investment Managers 1,445 1,732 19.9 % 21.1 % Banks 377 339
-10.1 % -4.0 % TOTAL 77,966 93,633 20.1 % 5.4 % (a) MLC which was
acquired on May 8, 2006 contributed Euro 110 million to Hong Kong
Life & Savings revenues in 2007. Revenues are excluded from the
calculation of change on a comparable basis. (b) AXA RE's revenues
amounted to Euro 896 million at FY07 versus Euro 1,217 million at
FY06 and are excluded from the calculation of change on a
comparable basis. APPENDIX 4 - AXA GROUP IFRS Revenues in local
currency - Discrete quarters 2006/2007 In million local currency
except Japan in billion 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07
Life & Savings United States 4,806 4,958 4,589 4,981 5,258
5,654 5,601 5,738 France 3,809 3,809 3,213 3,966 4,313 3,479 3,407
3,846 Japan 176 204 172 167 201 210 197 202 United Kingdom 739 685
747 755 765 846 771 785 Germany 856 845 861 1,119 1,518 1,467 1,486
1,729 Switzerland 87 45 43 48 4,434 837 580 907 Belgium 761 545 500
705 957 671 617 828 Mediterranean Region 319 427 262 469 390 540
335 653 Other countries of which Australia/ New Zealand 477 585 517
510 515 600 614 537 of which Hong Kong 2,122 2,046 3,170 2,764
3,690 2,729 3,131 3,820 of which Central & Eastern Europe 103
98 106 115 Property & Casualty France 1,709 1,124 1,249 1,106
1,744 1,151 1,286 1,148 Germany 1,348 453 495 449 1,620 582 707 597
Switzerland 72 23 31 22 2,676 250 156 160 United Kingdom + Ireland
804 893 793 728 863 975 849 787 Mediterranean Region 991 932 819
1,080 1,342 1,353 1,128 1,453 Belgium 444 356 363 349 641 514 493
464 Canada 335 434 374 361 334 442 417 393 International Insurance
AXA Corporate Solutions Assurance 833 265 318 273 859 337 314 294
Others, including AXA RE 959 1,441 516 328 1,441 683 427 109 Asset
Management AllianceBernstein 829 912 879 1,101 987 1,077 1,076
1,148 AXA Investment Managers 314 360 337 435 397 458 430 447 Banks
87 95 105 95 80 76 89 79 DATASOURCE: AXA Group CONTACT: Investors:
Etienne Bouas-Laurent, +33-1-40-75-46-85, Paul-Antoine Cristofari,
+33-1-40-75-73-60, Emmanuel Touzeau, +33-1-40-75-49-05, George
Guerrero, +1-212-314-2868; Media: Christophe Dufraux,
+33-1-40-75-46-74, Clara Rodrigo, +33-1-40-75-47-22, Laurent
Secheret, +33-1-40-75-48-17, Armelle Vercken, +33-1-40-75-46-42,
Mary Taylor, +1-212-314-5845, all of AXA Group; Individual
shareholders: +33-1-40-75-48-43 Web site:
http://www.axa-equitable.com/
Copyright