Axa P&C earnings remain flat in 2015

Underlying earnings after tax at Axa's P&C operations fell
1 percent to EUR2.2bn in 2015, as a lower investment profit was
offset by an improved technical result.
Net technical income grew 21 percent in the year to EUR1.2bn, as
the combined ratio improved by 0.6 percentage points to 96.2
percent.
The combined ratio improvement was due to reserve releases,
which increased by 0.4 percentage points to 1 point, as well as a
1.3 point decrease in natural catastrophes on the...