Axa Seeks at Least 1.5 Billion Euros in Cost Cuts
This article is for subscribers only.
Axa SA, the French insurer that’s trying to buy out its Asian units, expects to reduce costs by at least 1.5 billion euros ($2 billion) by 2015 at the company’s life-insurance and property-and-casualty businesses.
“In a post-crisis world, we’re reviewing the balance between growth and efficiency and the way we manage our capital,” Chief Executive Officer Henri de Castries said today in a statement. Axa aims to deploy capital in emerging markets and in businesses such as protection and health, he said.