Axa sees H1 profit fall by 17% as derivative losses impact

French (re)insurance conglomerate Axa saw 2019 first half net income fall to Eur2.3bn ($2.54bn), down Eur463mn or 17 percent on H1 2018 after booking charges related to the valuation of its remaining stake in Axa Equitable Holdings and the mark-to-market valuation of derivatives.