0752 GMT - AXA's lower-than-expected solvency ratio due to market effects might be a source of slight disappointment and somewhat overshadow the French insurer's better first-quarter operating performance, Citi says in a research note. Solvency at 213% was four percentage points below consensus. However, the quarterly indicators confirm positive revenue trends with a premium beat led by its health division on positive pricing. "There is little here to change the investment thesis of steadily compounding growth, efficiency delivery and improved cash generation," analyst James A Shuck writes. Shares, which are up 19% in the year to date, slip 0.2% to 40.84 euros. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 03:52 ET (07:52 GMT)
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