Data:AXA/2025/FY/Earnings presentation (press).json: Difference between revisions

"content": "* REVENUES\n* {{t|€116€116bn|p1abw4-yxjw}}bn\n* {{t|+6%|p1abw4-yutx}} vs {{t|FY24|p1abw4-ndok|Full year 2024}}\n* {{t|UNDERLYING EARNINGS||Underlying earnings}}\n* {{t|€8.44bn|p1abw4-oasi}}bn\n* {{t|+6%|p1abw4-xtf8}} vs {{t|FY24|p1abw4-3bra|Full year 2024}}\n* {{t|+9%|p1abw4-z72l}} Excl. {{t|AXA IM|p1abw4-9cne|AXA Investment Managers}}\n* {{t|UEPS|p1abw4-5ldr|Underlying earnings per share}}\n* {{t|€3.86|p1abw4-l996}}\n* {{t|+8%|p1abw4-dpes}} vs {{t|FY24|p1abw4-ul38|Full year 2024}}\n* {{t|DIVIDEND|p1abw4-d0x9|Dividend}}(1)(footnote: See glossary for terminologies and footnotes on page 36 \u0026 37 of this document.)\n* {{t|€2.32|p1abw4-1cs9}}\n* {{t|+8%|p1abw4-idom}} vs {{t|FY24|p1abw4-eqyj|Full year 2024}}\n* SOLVENCY II RATIO\n* {{t|224%|p1abw4-ts7x}}\n* {{t|+9pts|p1abw4-t41o}} {{t|FY25|p1abw4-f4de|Full year 2025}}\n\n(1) See glossary for terminologies and footnotes on page 36 \u0026 37 of this document."

"content": "**GROSS WRITTEN PREMIUMS \u0026 OTHER REVENUES, UNDERLYING EARNINGS, and COMBINED RATIO by business line.**\n\n| {{t\\|Business Line\\|\\|Business mix}} | {{t\\|GROSS WRITTEN PREMIUMS \u0026 OTHER REVENUES\\|\\|Gross written premiums \u0026 other revenues}} | {{t\\|UNDERLYING EARNINGS\\|\\|Underlying earnings}} | COMBINED RATIO |\n| --- | --- | --- | --- |\n| {{t\\|P\u0026;;Cu0026C\\|p1abw4-b57v\\|Property \u0026 casualty}} | {{t\\|€58.0bn\\|p1abw4-jqov}} {{t\\|+5%\\|p1abw4-pawh}} vs {{t\\|FY24\\|\\|Full year 2024}} | {{t\\|€5.9bn\\|p1abw4-1m4z}} {{t\\|+9%\\|p1abw4-0iy6}} vs {{t\\|FY24\\|\\|Full year 2024}} | {{t\\|90.6%\\|p1abw4-v9el}} vs {{t\\|91.0%\\|p1abw4-dwya}} {{t\\|FY24\\|\\|Full year 2024}} |\n| LIFE | {{t\\|€37.5bn\\|p1abw4-qrrm}} {{t\\|+9%\\|p1abw4-0iy6}} vs {{t\\|FY24\\|\\|Full year 2024}} | {{t\\|€2.7bn\\|p1abw4-j8uf}} {{t\\|+4%\\|p1abw4-z85f}} vs {{t\\|FY24\\|\\|Full year 2024}} | — |\n| HEALTH | {{t\\|€19.0bn\\|p1abw4-okof}} {{t\\|+5%\\|p1abw4-bxk2}} vs {{t\\|FY24\\|\\|Full year 2024}} | {{t\\|€0.8bn\\|p1abw4-xr40}} {{t\\|+17%\\|p1abw4-4l05}} vs {{t\\|FY24\\|\\|Full year 2024}} | {{t\\|97.9%\\|p1abw4-w1gu}} vs {{t\\|98.1%\\|p1abw4-mae8}} {{t\\|FY24\\|\\|Full year 2024}} |\n\n* See glossary for terminologies and footnotes on page 36 \u0026 37 of this document."

"content": "**Customers**\n* More than {{t|€49€49bn|p1abw4-sp63}}bn in claims paid\n* {{t|€438€438m|p1abw4-a069}}m climate related claims in France\n\n**Economy**\n* More than {{t|€40€40bn|p1abw4-astb}}bn invested in the economy\n* {{t|€12.88bn|p1abw4-mdil}}bn(1)(footnote: €12.8bn of tax and social contributions paid) of tax and social contributions paid, of which {{t|36.7%|p1abw4-zfkw}} in France\n* Launch of {{t|AXA|p1abw4-x72v|AXA}} Foundation for Human Progress with {{t|€60m/year|p1abw4-6jwz}} endowed by {{t|AXA|p1abw4-dirj|AXA}} Mutuelles d’Assurances and {{t|AXA Group|p1abw4-klo5|AXA}}\n\n**Employees**\n* {{t|€7€7bn|p1abw4-n0oi}}bn total compensation paid to our employees\n* {{t|15,115|p1abw4-7vdu}} recruitments worldwide (*excl. short-term contracts and trainees*) including {{t|2,138|p1abw4-f1b9}} in France\n* More than {{t|36%|p1abw4-wgww}} of employees are {{t|AXA|p1abw4-pt7c|AXA}} shareholders and hold {{t|4.82%|p1abw4-gq00}} of the capital and {{t|6.61%|p1abw4-q60s}} of its voting rights\n\n**Climate transition**\n* {{t|€4.66bn|p1abw4-7z3z}}bn in premiums related to transition with a target of {{t|€6€6bn|p1abw4-uur8}}bn cumulated between {{t|2024|p1abw4-5fmw}} and {{t|2026|p1abw4-723n|Year 2026}}(2)(footnote: target of €6bn cumulated between 2024 and 2026)\n* {{t|€6.44bn|p1abw4-2akx}}bn in investments to accelerate climate transition with a target of {{t|€5€5bn|p1abw4-pu7f}}bn annually(3)(footnote: target of €5bn annually)\n\n(1) €12.8bn of tax and social contributions paid\n(2) target of €6bn cumulated between 2024 and 2026\n(3) target of €5bn annually"

"content": "* {{t|€58€58bn|p1abw4-2b31}}bn {{t|GWP|p1abw4-07ne|Gross written premiums}}\n* Retail\n* SME \u0026 Mid-market\n* {{t|AXA XL|p1abw4-6wor|AXA XL}}(2)(footnote: AXA XL includes AXA XL Insurance and AXA XL Reinsurance) (Large \u0026 Specialty)\n* {{t|UNDERLYING EARNINGS|p1abw4-un4a|Underlying earnings}} {{t|+9%|p1abw4-exy4}}(1)(footnote: Underlying earnings growth) to {{t|€5.99bn|p1abw4-j3vo}}bn\n\n**Strategic Outlook.**\n\n| | 2025 | BEYOND 2025 |\n| --- | --- | --- |\n| Retail and SME \u0026 Mid-market | Growing volumes while expanding margins | Investing to improve customer retention \u0026 expanding distribution footprint |\n| {{t\\|AXA XL\\|p1abw4-18nd\\|AXA XL}} (Large \u0026 Specialty) | Profitable growth with stable margins | Capitalizing on attractive growth opportunities and continued cycle management |\n\n(1) Underlying earnings growth\n(2) AXA XL includes AXA XL Insurance and AXA XL Reinsurance"

"content": "* {{t|€57€57bn|p1abw4-3iqs}}bn {{t|GWP|p1abw4-971o|Gross written premiums}}\n* {{t|GWP|p1abw4-971o|Gross written premiums}} mix: Health, Protection, G/A Savings — shares not printed\n* {{t|UNDERLYING EARNINGS||Underlying earnings}} {{t|+7%|p1abw4-ld81}}(1)(footnote: See glossary for terminologies and footnotes on page 36 \u0026 37 of this document.) to {{t|€3.55bn|p1abw4-x68g}}bn\n\n**Health**\n* {{t|2025|}}: Competitive advantages with innovative products integrating more prevention\n* BEYOND {{t|2025|}}: Capitalizing on demand for health \u0026 protection while further improving our margins\n\n**Protection**\n* {{t|2025|}}: Continued strong commercial momentum, especially in Japan and Switzerland\n* BEYOND {{t|2025|}}: Capitalizing on demand for health \u0026 protection while further improving our margins\n\n**G/A Savings**\n* {{t|2025|}}: Accelerating net flows in Savings at attractive margins\n* BEYOND {{t|2025|}}: Capturing savings \u0026 retirement opportunity, sourcing best asset management products for our customers\n\n(1) See glossary for terminologies and footnotes on page 36 \u0026 37 of this document."

"content": "**GWP \u0026 OTHER REVENUES.**\n\n| In Euro billion | {{t\\|FY24\\|p1abw4-bvnq\\|Full year 2024}} | {{t\\|FY25\\|p1abw4-0en6\\|Full year 2025}} | Change |\n| --- | --- | --- | --- |\n| Commercial lines | — | {{t\\|35.8\\|p1abw4-m6k3}} | {{t\\|+4%\\|p1abw4-psux}} |\n| {{t\\|AXA XL\\|p1abw4-kgzz\\|AXA XL}} Reinsurance | — | {{t\\|2.6\\|p1abw4-3uym}} | {{t\\|+8%\\|p1abw4-uk22}} |\n| Retail lines | — | {{t\\|19.7\\|p1abw4-fn5i}} | {{t\\|+7%\\|p1abw4-qkfu}} |\n| Total | 56.5 | 58.0 | +5% |\n\n**Commercial lines**\n* Mid-market and SME: continued pricing momentum and volume growth\n* {{t|AXA XL||AXA XL}} Insurance: growing in {{t|lines of business|p1abw4-9y4n|Business mix}} with attractive margins while remaining focused on retention\n\n**{{t|AXA XL||AXA XL}} Reinsurance**\n* Growth supported by alternative capital\n\n**Retail lines**\n* Favorable pricing trends and strong growth in net new contracts ({{t|+1.77m|p1abw4-vvry}}m in {{t|FY25|p1abw4-h7vb|Full year 2025}})"

"content": "In Euro billion\n\n**LIFE GWP \u0026 OTHER REVENUES.**\n\n| In Euro billion | {{t\\|FY24\\|p1abw4-votc\\|Full year 2024}} | {{t\\|FY25\\|}} | Change |\n| --- | --- | --- | --- |\n| Protection | — | {{t\\|17.3\\|p1abw4-r3n1}} | {{t\\|+11%\\|p1abw4-zyxo}} |\n| Unit-Linked | — | {{t\\|9.3\\|p1abw4-cnnv}} | {{t\\|+13%\\|p1abw4-dh8o}} |\n| Capital light G/A | — | {{t\\|9.0\\|p1abw4-axty}} | {{t\\|+7%\\|p1abw4-z9y8}} |\n| Traditional G/A | — | {{t\\|1.9\\|p1abw4-5pg8}} | {{t\\|-7%\\|p1abw4-u9eg}} |\n| Total | 34.5 | 37.5 | +9% |\n\n* o/w {{t|FY25|p1abw4-yiub|Full year 2025}} Employee Benefits(1)\n* Euro {{t|12.9|p1abw4-oja2}} billion ({{t|+4%|p1abw4-epst}} vs {{t|FY24|p1abw4-cbg3|Full year 2024}})\n\n**HEALTH GWP \u0026 OTHER REVENUES.**\n\n| In Euro billion | {{t\\|FY24\\|}} | {{t\\|FY25\\|}} | Change |\n| --- | --- | --- | --- |\n| Individual | — | {{t\\|10.5\\|p1abw4-f3iv}} | {{t\\|+6%\\|p1abw4-l7fk}} |\n| {{t\\|Group\\|\\|AXA}} | — | {{t\\|8.5\\|p1abw4-d7m6}} | {{t\\|+4%\\|p1abw4-rfjw}} |\n| Total | 17.5 | 19.0 | +5% |\n\n**NET FLOWS.**\n\n| In Euro billion | {{t\\|FY25\\|}} |\n| --- | --- |\n| Protection | {{t\\|+4.9\\|p1abw4-q99a}} |\n| Health | {{t\\|+2.7\\|p1abw4-4tdi}} |\n| Unit-Linked | {{t\\|+1.5\\|p1abw4-r5wk}} |\n| Capital light G/A | {{t\\|+1.2\\|p1abw4-x6yc}} |\n| Traditional G/A | {{t\\|-5.0\\|p1abw4-cbwv}} |\n| Total | €+5.4bn |\n\n* Net Flows vs {{t|FY24|}}\n* {{t|€+5.44bn|p1abw4-cocg}}bn vs {{t|€+1.55bn|p1abw4-sgh7}}bn in {{t|FY24|p1abw4-votc|Full year 2024}}"

"content": "**In Euro billion.**\n\n| | {{t\\|FY24\\|p1abw4-n008\\|Full year 2024}} | {{t\\|FY25\\|p1abw4-j5c3\\|Full year 2025}} | Change |\n| --- | --- | --- | --- |\n| {{t\\|Property \u0026;; Casualty\\|p1abw4-6pya\\|Property \u0026 casualty}} | {{t\\|5.5\\|p1abw4-2ag0}} | {{t\\|5.9\\|p1abw4-jzfe}} | {{t\\|+9%\\|p1abw4-5gmn}} |\n| {{t\\|Life \u0026;; Health\\|p1abw4-6pmh\\|Life \u0026 health}} | {{t\\|3.3\\|p1abw4-ij5y}} | {{t\\|3.5\\|p1abw4-q3s6}} | {{t\\|+7%\\|p1abw4-409c}} |\n| {{t\\|Asset Management\\|\\|AXA Investment Managers}} | {{t\\|0.4\\|p1abw4-akrj}} | {{t\\|0.2\\|p1abw4-9kg7}} | {{t\\|-57%\\|p1abw4-1s7c}} |\n| Holdings \u0026 other | {{t\\|-1.2\\|p1abw4-p5a2}} | {{t\\|-1.2\\|p1abw4-6m1o}} | — |\n| {{t\\|Underlying earnings\\|p1abw4-shx2\\|Underlying earnings}}(1) | 8.1 | 8.4 | +6% |\n| Non-financial flows | {{t\\|-0.5\\|p1abw4-fion}} | {{t\\|+2.1\\|p1abw4-35sw}} | — |\n| o/w capital gains from {{t\\|AXA IM\\|p1abw4-ri2t\\|AXA Investment Managers}} disposal | — | {{t\\|+2.2\\|p1abw4-9d0t}} | — |\n| Financial flows (incl. RCG) | {{t\\|+0.3\\|p1abw4-082x}} | {{t\\|-0.7\\|p1abw4-spzt}} | — |\n| Net income(1) | 7.9 | 9.8 | +26% |\n\n**{{t|UNDERLYING EARNINGS||Underlying earnings}}**\n* Strong performance from insurance businesses\n* Stable holding cost, expected to remain at current level in {{t|2026|p1abw4-ehjs|Year 2026}}\n\n**NET INCOME**\n* Higher net income mainly reflecting higher {{t|underlying earnings|p1abw4-ezd4|Underlying earnings}} and the gain from the sale of {{t|AXA IM|p1abw4-pln4|AXA Investment Managers}}\n* Lower financial flows reflecting unfavorable forex impact\n\n**UNDERLYING EARNINGS PER SHARE(1)(footnote: See glossary for terminologies and footnotes on page 36 \u0026 37 of this document.) (In Euro).**\n\n| | {{t\\|FY24\\|p1abw4-vpwn\\|Full year 2024}} | {{t\\|FY25\\|p1abw4-nlyl\\|Full year 2025}} |\n| --- | --- | --- |\n| {{t\\|Underlying earnings per share\\|\\|Underlying earnings per share}} | {{t\\|3.59\\|p1abw4-w9ye}} | {{t\\|3.86\\|p1abw4-r3yy}} |\n| Total Change | — | {{t\\|+8%\\|p1abw4-7jdw}} |\n| from earnings growth | — | {{t\\|+6%\\|p1abw4-zzfe}} |\n| from {{t\\|capital management\\|p1abw4-injl\\|Capital management}} | — | {{t\\|+3%\\|p1abw4-k7ds}} |\n| from Forex | — | {{t\\|-2%\\|p1abw4-9o90}} |\n\n(1) See glossary for terminologies and footnotes on page 36 \u0026 37 of this document."

"content": "**SOLID AND DIVERSIFIED FRANCHISE(1)**\n* {{t|\u0026#35;1|p1abw4-g31e}} Health \u0026 Protection\n* {{t|\u0026#35;2|p1abw4-t1su}} {{t|Property \u0026 Casualty|p1abw4-8wpp|Property \u0026 casualty}}\n* {{t|\u0026#35;7|p1abw4-z6om}} Savings \u0026 Pensions\n\n**SOLID AND DIVERSIFIED FRANCHISE(1) (FY25 Revenues including international activities).**\n\n| Segment | Share |\n| --- | --- |\n| Savings \u0026 Pensions | {{t\\|35%\\|p1abw4-895s}} |\n| {{t\\|Property \u0026 Casualty\\|\\|Property \u0026 casualty}} | 31% |\n| Health \u0026 Protection | {{t\\|34%\\|p1abw4-72lt}} |\n| **Total** | €31bn |\n\n**KEY FIGURES(2)**\n* {{t|\u003E8m|p1abw4-vyyf}} Retail clients(3)(footnote: target of €5bn annually)\n* {{t|1|p1abw4-x9vp}} out of {{t|5|p1abw4-r2tj}} households insured by {{t|AXA|p1abw4-o92o|AXA}} in France\n* {{t|2.5|p1abw4-dbhe}} contracts per client on average\n* {{t|1|p1abw4-twwv}} out of {{t|3|p1abw4-qwel}} SMEs insured by {{t|AXA|p1abw4-alpi|AXA}} in France\n* {{t|\u003E6m|p1abw4-yfw3}} Employee Benefits beneficiaries\n* {{t|1|p1abw4-dsag}} / minute commercial claims covered\n* {{t|33,000|p1abw4-d1yd}} people working for {{t|AXA|p1abw4-xjjx|AXA}} in France\n* {{t|\u003E€10bn|p1abw4-q4y4}} invested in the economy\n* {{t|€37€37m|p1abw4-xvfc}}m claims paid per day on average"

"content": "**REVENUES**\n* {{t|€31€31bn|p1abw4-ryoe}}bn {{t|+6%|p1abw4-7pby}} vs. {{t|FY24|p1abw4-vwzt|Full year 2024}}\n* {{t|P\u0026C|p1abw4-76we|Property \u0026 casualty}} {{t|+7%|}}\n* Health \u0026 Protection {{t|+4%|p1abw4-2ino}}\n* Savings \u0026 Pensions {{t|+7%|}}\n\n**KEY TAKEAWAYS**\n* Additional new distributors {{t|+430|p1abw4-8g1q}} nouveaux distributeurs\n* Additional contracts(1)(footnote: See glossary for terminologies and footnotes on page 36 \u0026 37 of this document.) {{t|+550550k|p1abw4-xv9t}}k net\n* Additional clients(1)(footnote: See glossary for terminologies and footnotes on page 36 \u0026 37 of this document.) {{t|+250250k|p1abw4-oq7f}}k net\n* Growth of individuals savings assets {{t|€+3.33bn|p1abw4-c8vs}}bn\n\n**UNDERLYING EARNINGS.**\n\n| In Euro billion | {{t\\|FY24\\|p1abw4-6elb\\|Full year 2024}} | {{t\\|FY25\\|p1abw4-ewvy\\|Full year 2025}} | Change |\n| --- | --- | --- | --- |\n| {{t\\|Underlying earnings\\|\\|Underlying earnings}} | {{t\\|2.1\\|p1abw4-mxrv}} | {{t\\|2.2\\|p1abw4-8rfo}} | {{t\\|+7%\\|p1abw4-akud}} |\n\n(1) See glossary for terminologies and footnotes on page 36 \u0026 37 of this document."

"content": "**S\u0026P Global**\n* {{t|2025|p1abw4-bzki}} percentile: {{t|9797th|p1abw4-pynb}}th(1) in Dow Jones Best-in-Class Europe \u0026 World indices\n\n**MSCI**\n* {{t|2025|}} score: AAA\n\n**CDP**\n* {{t|2025|}} score: B\n\n**MORNINGSTAR SUSTAINALYTICS**\n* {{t|2025|}} ESG Risk Rating: {{t|17.0|p1abw4-lgy1}} – Low risk\n\n**FTSE RUSSELL An LSEG Business**\n* {{t|2025|}} score: {{t|4.3/5|p1abw4-z8e0}} in {{t|FTSE4Good|p1abw4-yy7v}} Index Series"

"content": "* {{t|1|p1abw4-1m82}}. Based on the {{t|dividend|p1abw4-tfix|Dividend}} proposed by {{t|AXA||AXA}}’s Board of Directors on {{t|February 25, 2026|p1abw4-prkx}} and subject to approval by the Shareholders’ Annual General Meeting to be held on {{t|April 30, 2026|p1abw4-dhxn}}.\n\n* {{t|1|p1abw4-lqst}}. Pie chart represents {{t|FY25|p1abw4-qgls|Full year 2025}} {{t|gross written premium|p1abw4-mzkt|Gross written premiums}} split excluding {{t|AXA IM|p1abw4-8dai|AXA Investment Managers}} and holdings.\n\n* {{t|1|p1abw4-0svf}}. Estimate of the final {{t|2025|p1abw4-wp2e}} figures made in {{t|February 2026|p1abw4-g37u}}.\n* {{t|2|p1abw4-l41l}}. Scope: {{t|AXA France|p1abw4-8vml|AXA France}}, {{t|AXA|p1abw4-de44|AXA}} Germany, {{t|AXA|p1abw4-m8gi|AXA}} Switzerland, {{t|AXA|p1abw4-ncse|AXA}} UK \u0026 Ireland, {{t|AXA|p1abw4-369g|AXA}} Belgium, {{t|AXA|p1abw4-zxe3|AXA}} Hong Kong, {{t|AXA|p1abw4-e3tb|AXA}} Mexico, and {{t|AXA XL|p1abw4-5ai6|AXA XL}}; Unit: {{t|Gross Written Premiums|p1abw4-l4m7|Gross written premiums}} ({{t|GWP|p1abw4-mj83|Gross written premiums}}); Timeframe: cumulative {{t|2024-2026|p1abw4-ibqg}}.\n* {{t|3|p1abw4-bbnh}}. Scope: corporate and sovereign debt, real estate and private assets. Timeframe: per annum through {{t|2030|p1abw4-l684}}.\n\n* {{t|1|p1abw4-jul2}}. {{t|FY25|p1abw4-vnif|Full year 2025}} {{t|gross written premiums|p1abw4-nxao|Gross written premiums}} excluding {{t|AXA IM|p1abw4-pjde|AXA Investment Managers}}, Holdings, {{t|AXA|p1abw4-nha5|AXA}} Assistance, and {{t|AXA|p1abw4-pj1x|AXA}} Liabilities Managers.\n\n* {{t|1|}}. Change {{t|FY25|}} vs. {{t|FY24|}} at constant fx.\n* {{t|2|p1abw4-vjoz}}. Includes {{t|AXA XL|p1abw4-s4u5|AXA XL}} Re premiums of {{t|€2.66bn|p1abw4-g38y}}bn.\n\n* {{t|1|}}. Change {{t|FY25|}} vs {{t|FY24|}} at constant fx.\n\n* {{t|1|p1abw4-unf7}}. Including both short-term and long-term Employee Benefits {{t|GWP|p1abw4-pvfy|Gross written premiums}} and {{t|other revenues|p1abw4-ldgp|Other revenue}}.\n\n\u003C!-- furniture --\u003E"