AXA Financial, Inc. | |||||||||
Reconciliation of AXA US Life & Savings Contribution to AXA Group IFRS Revenues | |||||||||
with Consolidated AXA Financial, Inc. Premiums under USGAAP | |||||||||
(in millions) | |||||||||
Three Months Ended March 31, | |||||||||
2010 | 2011 | ||||||||
Contribution to IFRS Gross Revenues per AXA Press Release | in Euro | ||||||||
Gross Premiums | 2,040 | 2,266 | |||||||
Other Revenues (A) | 190 | 211 | |||||||
2,229 | 2,478 | ||||||||
Average exchange rate US$1.00 = | 0.72284 | 0.73087 | |||||||
in USD | 3,084 | 3,390 | |||||||
Reconciling items: | |||||||||
Less: Other Revenues (A) | (262) | (289) | |||||||
Less: Deposits from Universal life and investment-type product policy fee income (B) | (2,321) | (2,598) | |||||||
Less: Reinsurance ceded premiums (C) | (118) | (116) | |||||||
Add: Others (D) | 7 | 6 | |||||||
Total Reconciling items | (2,694) | (2,997) | |||||||
Consolidated AXA Financial, Inc. US GAAP Premiums | 390 | 393 | |||||||
(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: 6 May 11, 12:00am