(MENAFN) French insurance group AXA, the No. 2 European insurer after German Allianz, said its net profit surged 12 percent in 2014 to USD5.7 billion, AFP reported.
The company said the result is attributable to strong sales in the group's life and savings businesses. However, the figure was better than analysts' expectations of USD5.92 billion.
"Even though the global economic landscape remains uncertain, the group has shown its ability to generate results that are perfectly in line with its long-term goals," chief executive said.
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