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AXA Life Insurance's fiscal 2016-2017 net profit up 25% YOY

AXA Life Insurance Co. Ltd. reported a 25.2% rise in net profit for the fiscal year ended March 31.

The Japan-based AXA unit said May 25 that net profit for the year was ¥15.84 billion, up from ¥12.65 billion in the previous year.

Ordinary revenue rose to ¥822.97 billion from ¥747.90 billion, as premium income climbed to ¥619.13 billion from ¥604.43 billion. Investment income also increased to ¥200.79 billion from ¥138.11 billion.

Ordinary expenses rose to ¥781.70 billion from ¥707.10 billion, mainly due to an increase in reserves for insurance payment to ¥142.07 billion from ¥22.57 billion.

The solvency margin ratio fell to 745.6% as of March 31, from 761.2% at March 31, 2016.

As of May 25, US$1 was equivalent to ¥111.87.