AXA/2026/1Q/Activity indicators press release: Difference between revisions

| document_typedocument_category = Press release

| style="text-align:left" | Solvency II ratio (%) {{footnote|1=• Solvency II ratio estimated primarily using AXA’s internal model calibrated on an adverse 1/200 year shock. 
• Includes a theoretical amount for dividends and share buybacks accrued for the first three months of 2026, based on the FY25 full-year dividend of Euro 2.32 per share paid in 2026 and the annual share buyback of Euro 1.25 billion announced on February 26, 2026. 
• Annual share buybacks exclude anti-dilutive share buybacks related to certain disposals and in-force management transactions, and share buybacks to offset dilutive effects relating to employee share offerings and stock-based compensation. 
• Dividends and share buybacks are proposed by the Board, at its discretion based on factors described in AXA’s 2025 Universal Registration Document, then submitted to AXA’s shareholders for approval. 
• This estimate should not be considered an indication of actual dividend and share buyback amounts, if any, for the 2026 financial year. 
• For information on AXA’s internal model and Solvency II disclosures, see AXA Group’s Solvency and Financial Condition Report (SFCR) as of December 31, 2024, on www.axa.com.}}

* '''Solvency II ratio''' {{footnote|1=• Solvency II ratio estimated primarily using AXA’s internal model calibrated on an adverse 1/200 year shock. 
• Includes a theoretical amount for dividends and share buybacks accrued for the first three months of 2026, based on the FY25 full-year dividend of Euro 2.32 per share paid in 2026 and the annual share buyback of Euro 1.25 billion announced on February 26, 2026. 
• Annual share buybacks exclude anti-dilutive share buybacks related to certain disposals and in-force management transactions, and share buybacks to offset dilutive effects relating to employee share offerings and stock-based compensation. 
• Dividends and share buybacks are proposed by the Board, at its discretion based on factors described in AXA’s 2025 Universal Registration Document, then submitted to AXA’s shareholders for approval. 
• This estimate should not be considered an indication of actual dividend and share buyback amounts, if any, for the 2026 financial year. 
• For information on AXA’s internal model and Solvency II disclosures, see AXA Group’s Solvency and Financial Condition Report (SFCR) as of December 31, 2024, on www.axa.com.}} was 211% as of March 31, 2026 ^{p. 2}

! class="col-s" style="text-align:right" | 1Q25 Updated {{footnote|1=• For comparability, 1Q25 PVEP, NB CSM, NBV, and NBV margin have been updated based on FY25 financial and actuarial assumptions, to reflect their contribution to FY25 PVEP, NB CSM, NBV, and NBV margin. 
• All year-on-year changes are on a comparable basis versus the updated 1Q25 figures (See Appendix 5).}}

! colspan="2" style="text-align:center" | AXA's credit ratings {{footnote|1=• Restricted Tier 1: “A-” by Standard & Poor’s and “A3(hyb)” by Moody’s. 
• Tier 2: “A” by Standard & Poor’s and “A1(hyb)” by Moody’s.}}

* ThisThe theoretical dividend amount is based on a full-year dividend of EUR 2.32 per share for FY25, payable in 2026, and an annual share buyback of EUR 1.25bn announced on February 26, 2026 ^{p. 7}.

* '''Annual share buybacks''' exclude anti-dilutive share buybacks related to certain disposals and in-force management transactions, as well as share buybacks to offset dilutive effects from employee share offerings and stock-based compensation ^{p. 7}.

* '''Dividends and share buybacks''' are proposed by the Board and subject to shareholder approval ^{p. 7}.

* The '''estimate of the Solvency II ratio estimate''' should not be considered an indication of actual dividend and share buyback amounts for the 2026 financial year ^{p. 7}.

* '''Tier 2''' is rated 'A' by Standard & Poor's and 'AA1 (hyb)' by Moody's ^{p. 7}.

* In 2025, '''2025revenues''', AXA'samounted revenues wereto EUR 115.5bn and '''underlying earnings''' wereto EUR 8.4bn ^{p. 8}.

* AXA is a '''founding member''' of the '''UN Environment Programme's Finance Initiative (UNEP FI) Principles for Sustainable Insurance''' and a signatory of the '''UN Principles for Responsible Investment''' ^{p. 8}.

* '''Non-GAAP financial measures''' should not be considered in isolation from, or as a substitute for, the Group's consolidated financial statements prepared in accordance with IFRS ^{p. 8}.

* '''Investor Relations''' can be reached atcontact: +33.1.40.75.48.42 or, investor.relations@axa.com ^{p. 8}.

* '''Individual Shareholder Relations''' can be reached atcontact: +33.1.40.75.48.43 ^{p. 8}.

* '''Media Relations''' can be reached atcontact: +33.1.40.75.46.74 or, ziad.gebran@axa.com, ahlem.girard@axa.com, sylwia.tulak@axa.com ^{p. 8}.

|+ GWP & other revenues by business line of business and region. ^{p. 12}

| style="text-align:left; padding-left:1.5em" | o/w short-term {{footnote|1=• Short-term business refers to insurance activities measured using the Premium Allocation Approach (“PAA”). 
• Short-term business margin is analyzed using the Combined Ratio. 
• Short-term business refers to Life Pure Protection and Health when measured using the PAA period.}}

|+ Life and health new business metrics 1Q26 by region. ^{p. 14}

* AXA announced theA '''execution of a share repurchase agreement''' for up to EUR 1.25bn was announced on February 27, 2026 ^{p. 16}.

** TheHY26 '''AXAEarnings InvestorRelease Day'''on isJuly scheduled for September 1531, 2026 ^{p. 16}.

** The '''AXA Investor roundtableDay on the strategy for AXA key markets''' is scheduled for September 2115, 2026 ^{p. 16}.

** TheAXA '''9M26Investor Activityroundtable Indicators'''on arekey scheduledmarkets forstrategy Octoberon 29September 21, 2026 ^{p. 16}.