French insurer AXA has announced it is not planning to bolster its spending by resorting to a capital increase.
In an interview published later today, Chairman Henri de Castries said: "Do we have enough capital? The reply is extremely simple: yes, we do have sufficient funds to ensure our development."
Insurers have invested billions in premiums in the equity market to generate profits to make guaranteed payouts to life insurance clients.
The prolonged market slump is making it difficult for some players to meet those commitments.
Several insurers including Legal & General, Royal & SunAlliance and Aegon have recently unveiled stock offerings to bolster their balance sheets.
On 2 September AXA said it was prudent over the outlook for its life and savings and asset management units' operating performance in the second half.
