AXA To Return €1B To Shareholders After First-Half Profits

By Najiyya Budaly (August 3, 2022, 2:01 PM BST) -- French insurance giant AXA promised on Wednesday to return up to €1 billion ($1 billion) to shareholders in a proposed share buyback after reporting a 3% rise in its profits for the first half of the year.

AXA SA, which has its headquarters in Paris, said its board of directors has approved the program, which it expects to be completed by February 2023. The insurer said it intends to cancel the shares that it buys back.

"Today the group announced a €1 billion share buy-back reflecting our robust operational performance, the strength of our balance sheet," Thomas Buberl, chief executive officer...

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