Europe’s second-largest insurer, AXA, has looked to two different continents for growth recently. After expanding in China, AXA is doing the same in Latin America, where it bought a controlling stake in the insurance arm of Colombia’s Colpatria last fall. So far, its efforts are paying off. AXA’s 2013 earnings jumped by 7.3% over the previous year while AXA shares are up 16.5% in the past year.
AXA is also well on its way to hitting its strategic target of cutting more than $2 billion in costs by 2015, having already cut $1.6 billion in recent years, including roughly $540 million during the 2013 fiscal year.
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