French insurer AXA posted lower-than-expected full-year earnings on Thursday as the rise in interest rates weighed on the valuation of its bond assets.

Europe's second-biggest insurer after Germany's Allianz said net income fell by 8% year-on-year to 6.67 billion euros in 2022.

This missed the 7.22 billion-euro consensus of 15 analyst estimates compiled by Refinitiv. Gross revenues over the year were up 2% to 102.3 billion euros, in line with the Refinitiv analyst consensus estimate. (Reporting by Mathieu Rosemain and Matthieu Protard, editing by Tassilo Hummel)