Axa has beaten expectations in reporting a 16 per cent rise in first-half net profit.
Net profit at Europe's second-biggest insurer rose to €3.18 billion, with earnings boosted by Axa's takeover last year of Swiss insurer Winterthur.
Axa said earlier this month that some of its funds had taken losses on investments related to subprime mortgages and that it had invested some of its own money to ensure the liquidity of these funds.
But the French insurer said it did not expect such market conditions to have a material impact on its earnings, however.
Losses in the US subprime mortgage sector have caused a widespread fall in financial stocks following signs that customers may not be able to pay off their loans.
Axa shares closed up 3.6 per cent at €30.07.
The company's results come a week after Allianz, Europe's biggest insurer, reported a 6 per cent fall in second-quarter net profit, although Allianz's figures also beat market forecasts.
