Axa Wealth revenues fall 23%

The business, which incorporates Axa Winterthur Wealth Management, Axa Wealth International, Architas multi-manager and the Elevate wrap platform, saw a 40% drop in offshore bond sales, a 26% fall in personal pension sales and an 18% drop on onshore bond new business. Overall at Axa Life, which also includes Axa's corporate pensions, protection and Sun Life Direct propositions, total new business revenues were down 18% on an APE basis, from £1,026m in 2008 to £840m in 2009. Bluefin Advisory Services (BAS) saw overall revenues decrease by 25% to £70m in 2009, reflecting, it says, a d...