Axa, France’s largest insurer, plans to increase profitability through 2020 by seeking €2.1bn of cost cuts and growing digital investments to tap rising demand for policies protecting savings and health. The firm may also seek acquisitions to boost growth.

A meeting of some of the world’s most powerful people has been slammed as being too secretive.

Some of France’s largest banks and insurers tried to reassure customers and investors today after talks on the financial crisis with President Nicolas Sarkozy.