Axa CEO Gets Boost as Insurer Reports Strong Profitability
- Shares rise most in two months after earnings beat estimates
- Gain eases pressure on Buberl after U.S. spinoff disappointed
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Axa SA gave under-fire Chief Executive Officer Thomas Buberl a needed boost with first-half earnings that beat estimates and growth in new business.
Axa, posting its first results since a disappointing partial spinoff of the French insurer’s U.S. unit, reported strong profitability across the firm and said first-half underlying earnings per share rose 6 percent to 1.33 euros, exceeding estimates. New business volumes grew strongly in health and protection.