Life goes on for Axa as fund flow slows
Axa Asia Pacific has increased its life insurance portfolio in Australia and NZ but recorded a 14% slide in total funds under management in the nine months to September 30.
New business across the Australian financial protection book climbed 25% to $22.9 million compared to the same period last year.
Group life new business made a particularly strong 55% gain.
New business among NZ financial protection lines also climbed 16% to $NZ20.1 million ($17.9 million).
However, total funds under management across the Axa Asia Pacific group slid 14% to $93.4 billion, reflecting global and domestic investment market deterioration.
New business across the Australian financial protection book climbed 25% to $22.9 million compared to the same period last year.
Group life new business made a particularly strong 55% gain.
New business among NZ financial protection lines also climbed 16% to $NZ20.1 million ($17.9 million).
However, total funds under management across the Axa Asia Pacific group slid 14% to $93.4 billion, reflecting global and domestic investment market deterioration.