The second half of 2009 is full of uncertainty, but French insurance giant AXA SA (AXA) will be able to withstand a deterioration of the economic environment, the company chief executive said Wednesday.

"Nobody knows what the second half will be," CEO Henri de Castries told a meeting with analysts, without elaborating.

Earlier Wednesday, the company reported a 39% drop in net profit for the first half that was better than analyst expectations. At that time, de Castries said AXA is well-placed to withstand a further downturn and can quickly benefit from any economic improvement. He repeated that confident sentiment to the analyst meeting.

He hadn't earlier discussed the situation in second half of the year.

Company Web site: www.axa.com

-By A.H. Mooradian, Dow Jones Newswires; +33 1 4017 1740; art.mooradian@dowjones.com.