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, | ||||||||||
2009 | 2010 | |||||||||
Contribution to IFRS Gross Revenues per AXA Press Release | in Euro | |||||||||
Gross Premiums | 6,918 | 6,538 | ||||||||
Other Revenues (A) | 487 | 604 | ||||||||
7,405 | 7,142 | |||||||||
Average exchange rate US$1.00 = | 0.73149 | 0.76009 | ||||||||
in USD | 10,123 | 9,396 | ||||||||
Reconciling items: | ||||||||||
Less: Other Revenues(A) | (666) | (794) | ||||||||
Less: Deposits from Universal life and investment-type product policy fee income(B) | (7,996) | (7,090) | ||||||||
Less: Reinsurance ceded premiums(C) | (380) | (382) | ||||||||
Add: Others(D) | 19 | 18 | ||||||||
Total Reconciling items | (9,023) | (8,248) | ||||||||
Consolidated AXA Financial, Inc. US GAAP Premiums | 1,100 | 1,148 | ||||||||
(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 | |||||||||
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Axa Financial Inactive 8-KResults of Operations and Financial Condition
Filed: 28 Oct 10, 12:00am