AXA Financial, Inc.
Reconciliation of AXA US Life & Savings Contribution to AXA Group IFRS Revenues
with Consolidated AXA Financial, Inc. Premiums under USGAAP
Nine Months Ended September 30 | |||||||||
2008 | 2009 | ||||||||
Contribution to IFRS Gross Revenues per AXA Press Release | in Euro | ||||||||
Gross Premiums | 9,594 | 6,918 | |||||||
Other Revenues (A) | 561 | 487 | |||||||
10,155 | 7,405 | ||||||||
Average exchange rate US$1.00 = | 0.65710 | 0.73150 | |||||||
in USD | 15,454 | 10,123 | |||||||
Reconciling items: | |||||||||
Less: Other Revenues (A) | (853) | (666) | |||||||
Less: Deposits from Universal life and investment-type product policy fee income (B) | (13,102) | (7,996) | |||||||
Less: Reinsurance ceded premiums (C) | (385) | (380) | |||||||
Add: Others (D) | 23 | 19 | |||||||
Total Reconciling items | (14,318) | (9,024) | |||||||
Consolidated AXA Financial, Inc. US GAAP Premiums | 1,137 | 1,100 | |||||||
(A) | Represents fees received from servicing and advisory business, and fees on the sales of Mutual Funds reported within Commissions, Fees & Other Income in the US GAAP Statement of Earnings | ||||||||
(B) | Reflected as an increase to Policyholder Account Balances in the US GAAP Balance Sheet | ||||||||
(C) | Reflected as a reduction to Premiums in the US GAAP Statement of Earnings | ||||||||
(D) | Represents Pension fee income and Reinsurance Assumed Premiums that are excluded from premiums for IFRS reporting |