AXA Asia Pacific Holdings Ltd
(ASX:AXA) says it has delivered a strong performance in the first quarter.
CEO Andrew Penn says sales growth in Asia was particularly strong with total new business index of $289 million up 57% on the first quarter of 2009 on a constant currency basis.
In Australia and New Zealand, Mr Penn says the company continued to see strong growth in financial protection although customer confidence is yet to fully return in wealth management.
AXA’s wealth management inflows in Australia rose 2% in the quarter to $1.5 billion including $124 million in North sales.
Total wealth management inflows including Alliance Bernstein were up 41% to $2.2 billion.
AXA says total Australian individual finance protection new business rose 12% to $23 million.
Also in the news today, NAB’s bid for AXA has been blocked by the ACCC, paving the way for AMP to make a fresh bid for the company.
AXA Asia Pacific Holdings booked a $679 million profit for 2009.
