Exhibit 99.2
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)
| Nine Months Ended September 30, | ||||||||||||||
| 2010 | 2011 | |||||||||||||
Contribution to IFRS Gross Revenues per AXA Press Release | in Euro | |||||||||||||
Gross Premiums | 6,538 | 6,586 | ||||||||||||
Other Revenues (A) | 604 | 612 | ||||||||||||
|
|
|
| |||||||||||
| 7,142 | 7,198 | |||||||||||||
Average exchange rate US$1.00 = | 0.76009 | 0.71062 | ||||||||||||
| in USD | 9,396 | 10,129 | ||||||||||||
Reconciling items: | ||||||||||||||
Less: Other Revenues (A) | (794 | ) | (860 | ) | ||||||||||
Less: Deposits from Universal life and investment-type product policy fee income (B) | (7,090 | ) | (7,774 | ) | ||||||||||
Less: Reinsurance ceded premiums (C) | (382 | ) | (379 | ) | ||||||||||
Add: Others (D) | 18 | 17 | ||||||||||||
|
|
|
| |||||||||||
Total Reconciling items | (8,248 | ) | (8,996 | ) | ||||||||||
|
|
|
| |||||||||||
Consolidated AXA Financial, Inc. US GAAP Premiums | 1,148 | 1,133 | ||||||||||||
|
|
|
| |||||||||||
| (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 |
