2005
(04/01/2005) With Profits Update
AXA has announced reversionary (regular) bonuses on former AXA Equity & Law conventional life and pensions business, which accounts for just 3% of AXA’s with profits policies, with effect from January 2005. AXA’s annual bonus declaration, which affects the remaining 97% of with profits policies and includes regular and terminal bonus rates, takes place in March.
Regular bonus rates on former AXA Equity & Law business for 2004 are 1% (2% in 2003).
Commenting on the announcement, Peter Shelley, Chief Actuary, said: "We have once again added bonuses to our conventional with profits life and pensions policies.
"Long term returns on maturing policies remain good. Customers with 25-year conventional life policies maturing now have seen an average return of 8% p.a. while those with 25-year pensions policies have seen an average return of over 11% p.a."
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About AXA
AXA is a worldwide leader in financial protection and wealth management, with major operations in Western Europe, North America and the Asia/Pacific area. AXA employs 117,000 staff and tied agents (at 31 December 2003) and, as of 30 June 2004, had €827 billion in assets under management. AXA reported total revenues for first half 2004 of €37 billion and underlying earnings of €1,436 million. Our previous company performance is not a guide to how we may perform in the future.
AXA ordinary shares are listed on the Paris Stock Exchange; AXA American Depositary Shares (ADSs) are listed on the NYSE under the ticker symbol AXA.