French insurer AXA sees lower earnings growth as low yields bite

French insurer AXA set on Tuesday lower earnings growth expectations for the coming years in a strategic plan incoming CEO Thomas Buberl has plotted to cope with historically low interest rates. In the face of falling yields on its investments, AXA said it aimed at increasing earnings per share by 3 to 7 percent annually in 2016-2020, down from a target of 5-10 percent in its strategic plan for the last five years. "These initiatives will position AXA to grow earnings and increase dividends, eve