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== Front Page ==
= Full Year 2025 Earnings – Financial Supplement =
 
 
 
== Summary ==
= Financial Supplement - Table of Contents =
 
 
 
== 13. Activity indicators ==
= Gross Written Premiums & Other Revenues, New Business Value & Present Value of Expected Premiums =
 
=== 1H24 ===
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators, 1H24 (EuroEUR millionmm)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:6em;" | Total
Line 24:
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 59,872.00000
| style="text-align:right" | 32,522
| style="text-align:right" | 26,505.000
| style="text-align:right" | 6,673
| style="text-align:right" | 17,419.000
| style="text-align:right" | 9,086.000
| style="text-align:right" | 787
| style="text-align:right" | 57
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''1,206.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''1,206.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''953.000'''
| style="background:#f8f9fa;text-align:right" | '''253.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,131.000
| style="text-align:right" | —
| style="text-align:right" | 1,131.000
| style="text-align:right" | —
| style="text-align:right" | 919.000
| style="text-align:right" | 213.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 456.000
| style="text-align:right" | —
| style="text-align:right" | 456.000
| style="text-align:right" | —
| style="text-align:right" | 333.000
| style="text-align:right" | 123.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (381.000)
| style="text-align:right" | —
| style="text-align:right" | (381.000)
| style="text-align:right" | —
| style="text-align:right" | (299.000)
| style="text-align:right" | (83.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 25,588.000
| style="text-align:right" | —
| style="text-align:right" | 25,588.000
| style="text-align:right" | —
| style="text-align:right" | 18,234.000
| style="text-align:right" | 7,354.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0477%
| style="text-align:right" | —
| style="text-align:right" | 04.0477%
| style="text-align:right" | —
| style="text-align:right" | 05.0522%
| style="text-align:right" | 03.0344%
| style="text-align:right" | —
| style="text-align:right" | —
Line 97:
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators, Full Year 2024FY24 (EuroEUR millionmm)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:6em;" | P&C
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life & Health
! style="background:#eaecf0;text-align:right;width:6em;" | o/w Employee Benefits**
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life
! style="background:#eaecf0;text-align:right;width:9em6em;" | Health
! style="background:#eaecf0;text-align:right;width:6em;" | Asset Management
! style="background:#eaecf0;text-align:right;width:6em;" | Bank
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 110,316.000
| style="text-align:right" | 56,514
| style="text-align:right" | 51,983.000
| style="text-align:right" | 12,167
| style="text-align:right" | 34,497.000
| style="text-align:right" | 17,486.000
| style="text-align:right" | 1,701
| style="text-align:right" | 118
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''2,264.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''2,264.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''1,792.000'''
| style="background:#f8f9fa;text-align:right" | '''473.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 2,169.000
| style="text-align:right" | —
| style="text-align:right" | 2,169.000
| style="text-align:right" | —
| style="text-align:right" | 1,770.000
| style="text-align:right" | 399.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 824.000
| style="text-align:right" | —
| style="text-align:right" | 824.000
| style="text-align:right" | —
| style="text-align:right" | 594.000
| style="text-align:right" | 231.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (729.000)
| style="text-align:right" | —
| style="text-align:right" | (729.000)
| style="text-align:right" | —
| style="text-align:right" | (572.000)
| style="text-align:right" | (158.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 50,896.000
| style="text-align:right" | —
| style="text-align:right" | 50,896.000
| style="text-align:right" | —
| style="text-align:right" | 36,860.000
| style="text-align:right" | 14,036.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0444%
| style="text-align:right" | —
| style="text-align:right" | 04.0444%
| style="text-align:right" | —
| style="text-align:right" | 04.0499%
| style="text-align:right" | 03.0344%
| style="text-align:right" | —
| style="text-align:right" | —
Line 182:
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators (Gross Written Premiums, 1H25New (EuroBusiness millionValue, PVEP, NBV Margin), 1H25, EUR mm
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:6em;" | P&C
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life & Health
! style="background:#eaecf0;text-align:right;width:6em;" | o/w Employee Benefits**
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life
! style="background:#eaecf0;text-align:right;width:6em;" | Health
! style="background:#eaecf0;text-align:right;width:6em;" | Asset Management
Line 194:
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 64,251.000
| style="text-align:right" | 34,097
| style="text-align:right" | 29,230.000
| style="text-align:right" | 7,223
| style="text-align:right" | 19,081.000
| style="text-align:right" | 10,149.00
| style="text-align:right" | 875
| style="text-align:right" | 49
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''1,189.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''1,189.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''928.000'''
| style="background:#f8f9fa;text-align:right" | '''260.00'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,184.000
| style="text-align:right" | —
| style="text-align:right" | 1,184.000
| style="text-align:right" | —
| style="text-align:right" | 950.000
| style="text-align:right" | 234.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 382.000
| style="text-align:right" | —
| style="text-align:right" | 382.000
| style="text-align:right" | —
| style="text-align:right" | 270.000
| style="text-align:right" | 113.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (378.000)
| style="text-align:right" | —
| style="text-align:right" | (378.000)
| style="text-align:right" | —
| style="text-align:right" | (292.000)
| style="text-align:right" | (86.00)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 25,918.000
| style="text-align:right" | —
| style="text-align:right" | 25,918.000
| style="text-align:right" | —
| style="text-align:right" | 19,487.000
| style="text-align:right" | 6,430.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0466%
| style="text-align:right" | —
| style="text-align:right" | 04.0466%
| style="text-align:right" | —
| style="text-align:right" | 04.0488%
| style="text-align:right" | 04.040%
| style="text-align:right" | —
| style="text-align:right" | —
Line 267:
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators, Full Year 2025FY25 (EuroEUR millionmm)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:6em;" | P&C
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life & Health
! style="background:#eaecf0;text-align:right;width:6em;" | o/w Employee Benefits**
! style="background:#eaecf0;text-align:right;width:9em6em;" | Life
! style="background:#eaecf0;text-align:right;width:6em;" | Health
! style="background:#eaecf0;text-align:right;width:6em;" | Asset Management
Line 279:
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 115,524.000
| style="text-align:right" | 58,038
| style="text-align:right" | 56,512.000
| style="text-align:right" | 12,867
| style="text-align:right" | 37,499.000
| style="text-align:right" | 19,014.00
| style="text-align:right" | 875
| style="text-align:right" | 99
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''2,233.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''2,233.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''1,747.000'''
| style="background:#f8f9fa;text-align:right" | '''486.00'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 2,199.000
| style="text-align:right" | —
| style="text-align:right" | 2,199.000
| style="text-align:right" | —
| style="text-align:right" | 1,822.000
| style="text-align:right" | 377.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 757.000
| style="text-align:right" | —
| style="text-align:right" | 757.000
| style="text-align:right" | —
| style="text-align:right" | 491.000
| style="text-align:right" | 266.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (724.000)
| style="text-align:right" | —
| style="text-align:right" | (724.000)
| style="text-align:right" | —
| style="text-align:right" | (567.000)
| style="text-align:right" | (157.00)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 49,357.000
| style="text-align:right" | —
| style="text-align:right" | 49,357.000
| style="text-align:right" | —
| style="text-align:right" | 37,103.000
| style="text-align:right" | 12,254.00
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0455%
| style="text-align:right" | —
| style="text-align:right" | 04.0455%
| style="text-align:right" | —
| style="text-align:right" | 04.0477%
| style="text-align:right" | 04.040%
| style="text-align:right" | —
| style="text-align:right" | —
Line 352:
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators (Gross Written Premiums, 1H24New (EuroBusiness millionValue, PVEP & NBV Margin), 1H24, EUR mm
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:9em6em;" | France
! style="background:#eaecf0;text-align:right;width:9em6em;" | Europe
! style="background:#eaecf0;text-align:right;width:6em;" | AXA XL
! style="background:#eaecf0;text-align:right;width:6em;" | Asia, Africa & EME-LATAM
Line 363:
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 59,872.000
| style="text-align:right" | 14,719.000
| style="text-align:right" | 22,579.000
| style="text-align:right" | 11,220
| style="text-align:right" | 9,571.000
| style="text-align:right" | 787
| style="text-align:right" | 995
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''1,206.000'''
| style="background:#f8f9fa;text-align:right" | '''354.000'''
| style="background:#f8f9fa;text-align:right" | '''348.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''504.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,131.000
| style="text-align:right" | 203.000
| style="text-align:right" | 398.000
| style="text-align:right" | —
| style="text-align:right" | 531.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 456.000
| style="text-align:right" | 275.000
| style="text-align:right" | 50.000
| style="text-align:right" | —
| style="text-align:right" | 131.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (381.000)
| style="text-align:right" | (123.000)
| style="text-align:right" | (100.000)
| style="text-align:right" | —
| style="text-align:right" | (158.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 25,588.000
| style="text-align:right" | 12,301.000
| style="text-align:right" | 6,317.000
| style="text-align:right" | —
| style="text-align:right" | 6,971.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0477%
| style="text-align:right" | 02.0299%
| style="text-align:right" | 05.0555%
| style="text-align:right" | —
| style="text-align:right" | 07.0722%
| style="text-align:right" | —
| style="text-align:right" | —
|}
 
* Includes expected profits from short term Life & Health business, carried by Life entities, Pure Investment Contracts, NBV from Equity method entities as well as New Business Loss Components and Margin ceded to reinsurers.
** Employee Benefits include Group Protection and Group Health contracts.
 
=== FY24 ===
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators: Gross Written Premiums & Other Revenues, FullNew YearBusiness 2024Value, EuroPVEP and NBV Margin, FY24 (EUR Millionmm)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:9em6em;" | France
! style="background:#eaecf0;text-align:right;width:6em;" | Europe
! style="background:#eaecf0;text-align:right;width:6em;" | AXA XL
! style="background:#eaecf0;text-align:right;width:9em6em;" | Asia, Africa & EME-LATAM
! style="background:#eaecf0;text-align:right;width:6em;" | AXA IM
! style="background:#eaecf0;text-align:right;width:6em;" | Transversal & Other
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 110,316.000
| style="text-align:right" | 28,996.000
| style="text-align:right" | 39,298.00
| style="text-align:right" | 19,383
| style="text-align:right" | 19,083.000
| style="text-align:right" | 1,701
| style="text-align:right" | 1,856
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''2,264.000'''
| style="background:#f8f9fa;text-align:right" | '''682.000'''
| style="background:#f8f9fa;text-align:right" | '''597.00'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''986.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 2,169.000
| style="text-align:right" | 391.000
| style="text-align:right" | 731.00
| style="text-align:right" | —
| style="text-align:right" | 1,047.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 824.000
| style="text-align:right" | 528.000
| style="text-align:right" | 49.00
| style="text-align:right" | —
| style="text-align:right" | 247.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (729.000)
| style="text-align:right" | (237.000)
| style="text-align:right" | (184.00)
| style="text-align:right" | —
| style="text-align:right" | (309.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 50,896.000
| style="text-align:right" | 25,370.000
| style="text-align:right" | 11,831.00
| style="text-align:right" | —
| style="text-align:right" | 13,695.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0444%
| style="text-align:right" | 02.0277%
| style="text-align:right" | 05.050%
| style="text-align:right" | —
| style="text-align:right" | 07.0722%
| style="text-align:right" | —
| style="text-align:right" | —
|}
 
* Includes expected profits from short term Life & Health business, carried by Life entities, Pure Investment Contracts, NBV from Equity method entities as well as New Business Loss Components and Margin ceded to reinsurers.
** Employee Benefits include Group Protection and Group Health contracts.
 
=== 1H25 ===
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators, 1H25 (EuroEUR millionmm)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:9em6em;" | France
! style="background:#eaecf0;text-align:right;width:9em6em;" | Europe
! style="background:#eaecf0;text-align:right;width:6em;" | AXA XL
! style="background:#eaecf0;text-align:right;width:9em6em;" | Asia, Africa & EME-LATAM
! style="background:#eaecf0;text-align:right;width:6em;" | AXA IM
! style="background:#eaecf0;text-align:right;width:6em;" | Transversal & Other
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 64,251.000
| style="text-align:right" | 15,670.000
| style="text-align:right" | 24,649.000
| style="text-align:right" | 11,749
| style="text-align:right" | 10,302.000
| style="text-align:right" | 875
| style="text-align:right" | 1,006
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''1,189.000'''
| style="background:#f8f9fa;text-align:right" | '''315.000'''
| style="background:#f8f9fa;text-align:right" | '''364.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''510.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,184.000
| style="text-align:right" | 199.000
| style="text-align:right" | 443.000
| style="text-align:right" | —
| style="text-align:right" | 541.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 382.000
| style="text-align:right" | 225.000
| style="text-align:right" | 28.000
| style="text-align:right" | —
| style="text-align:right" | 129.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (378.000)
| style="text-align:right" | (109.000)
| style="text-align:right" | (107.000)
| style="text-align:right" | —
| style="text-align:right" | (161.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 25,918.000
| style="text-align:right" | 11,662.000
| style="text-align:right" | 6,843.000
| style="text-align:right" | —
| style="text-align:right" | 7,413.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0466%
| style="text-align:right" | 02.0277%
| style="text-align:right" | 05.0533%
| style="text-align:right" | —
| style="text-align:right" | 06.0699%
| style="text-align:right" | —
| style="text-align:right" | —
|}
 
* Includes expected profits from short term Life & Health business, carried by Life entities, Pure Investment Contracts, NBV from Equity method entities as well as New Business Loss Components and Margin ceded to reinsurers.
** Employee Benefits include Group Protection and Group Health contracts.
 
=== FY25 ===
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Activity Indicators: Gross Written Premiums & Other Revenues, FullNew YearBusiness 2025Value, PVEP and NBV Margin (EuroEUR millionmm), FY25
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:9em6em;" | Total
! style="background:#eaecf0;text-align:right;width:6em;" | France
! style="background:#eaecf0;text-align:right;width:9em6em;" | Europe
! style="background:#eaecf0;text-align:right;width:6em;" | AXA XL
! style="background:#eaecf0;text-align:right;width:9em6em;" | Asia, Africa & EME-LATAM
! style="background:#eaecf0;text-align:right;width:6em;" | AXA IM
! style="background:#eaecf0;text-align:right;width:6em;" | Transversal & Other
|-
| style="text-align:left" | Gross Written Premiums & Other Revenues
| style="text-align:right" | 115,524.000
| style="text-align:right" | 30,598.00
| style="text-align:right" | 43,005.000
| style="text-align:right" | 19,277
| style="text-align:right" | 19,925.000
| style="text-align:right" | 875
| style="text-align:right" | 1,844
|-
| style="background:#f8f9fa;border-top:1px solid #a2a9b1;text-align:left" | '''IFRS17/9 New Business Value (NBV) (a)'''
| style="background:#f8f9fa;text-align:right" | '''2,233.000'''
| style="background:#f8f9fa;text-align:right" | '''695.00'''
| style="background:#f8f9fa;text-align:right" | '''578.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | '''959.000'''
| style="background:#f8f9fa;text-align:right" | ''''''
| style="background:#f8f9fa;text-align:right" | ''''''
|-
| style="text-align:left" |    New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 2,199.000
| style="text-align:right" | 431.00
| style="text-align:right" | 740.000
| style="text-align:right" | —
| style="text-align:right" | 1,028.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Other NBV *
| style="text-align:right" | 757.000
| style="text-align:right" | 506.00
| style="text-align:right" | 12.000
| style="text-align:right" | —
| style="text-align:right" | 239.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" |    Tax
| style="text-align:right" | (724.000)
| style="text-align:right" | (242.00)
| style="text-align:right" | (174.000)
| style="text-align:right" | —
| style="text-align:right" | (308.000)
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | Present Value of Expected Premiums (PVEP) (b)
| style="text-align:right" | 49,357.000
| style="text-align:right" | 22,858.00
| style="text-align:right" | 12,651.000
| style="text-align:right" | —
| style="text-align:right" | 13,847.000
| style="text-align:right" | —
| style="text-align:right" | —
|-
| style="text-align:left" | IFRS17/9 NBV Margin (a)/(b)
| style="text-align:right" | 04.0455%
| style="text-align:right" | 03.030%
| style="text-align:right" | 04.0466%
| style="text-align:right" | —
| style="text-align:right" | 06.0699%
| style="text-align:right" | —
| style="text-align:right" | —
|}
 
* Includes expected profits from short term Life & Health business, carried by Life entities, Pure Investment Contracts, NBV from Equity method entities as well as New Business Loss Components and Margin ceded to reinsurers.
** Employee Benefits include Group Protection and Group Health contracts.
 
== 14. Balance Sheet ==
 
=== Assets ===
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated Balance Sheet, Annual, FY24–FY25 (EuroEUR billionbn)
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:6em;" | FY24
Line 805:
 
{| class="wikitable" style="width:100%"
|+ |+ 📊 AXA Consolidated — Balance Sheet: Liabilities, Non-controlling Interests & Shareholders' Equity (EUR bn), FY24–FY25
! style="background:#eaecf0;text-align:left" |
! style="background:#eaecf0;text-align:right;width:6em;" | FY24
Line 855:
| style="text-align:right" | 432.6
|-
| style="text-align:left" |    Total Investments from Insurance activities
| style="text-align:right" | 537.5
| style="text-align:right" | 526.9