Paris: Europe’s second biggest insurer AXA posted a 12 per cent rise in 2014 net profit thanks to lower expenses and increased its dividend, voicing confidence in its cost-cutting target for this year. The news sent the shares higher in early trading, with AXA shares up 4.78 per cent at €22.46 (Dh93.75) at 0815 GMT. The company reported a 2014 net profit of €5.024 billion ($5.7 billion). Revenue rose 1 per cent to 91.988 billion, up 3 per cent on a comparable basis, driven by growth in the firm’s life and savings businesses, and asset management. Analysts polled by Thomson Reuters I/B/E/S had on average forecast net profit of €5.144 billion and revenue of 90.727 billion.