AXA/2025/FY/Earnings presentation: Difference between revisions

* '''3. FY25 Financial Performance''': presented by Alban de Mailly Nesle, Group CFO, starting on page 13 ^{p. 3}.

 

 

* FY25 Highlights ^{p. 4}

* Confidence in sustaining earnings growth ^{p. 8}

 

 

* Guillaume Borie ^{p. 9}

** Increasing penetration of Protection riders in Savings offerings

** Leveraging AI to reduce claims leakage & improve customer outcomes in Health

 

* '''FY25 Financial Performance''' ^{p. 13}

<div style="overflow-x:auto">

{| class="wikitable fintable"

! style="text-align:left" | EUR million

! class="col-s" style="text-align:right" | Underlying Earnings

|}

</div>

* '''Underlying Earnings''' +7% (change at constant FX) ^{p. 20}

* '''Strong short-term technical margin''' reflecting underwriting and claims initiatives that more than offset the impact of legislative change on the recoverability of value added tax in Mexico (EUR -0.1bn) ^{p. 20}

<div style="overflow-x:auto">

{| class="wikitable fintable"

! style="text-align:left" | EUR billion unless otherwise mentioned

! class="col-s" style="text-align:right" | FY24

|-

| style="text-align:left" | Property & Casualty

| style="text-align:right" | 5.9

| style="text-align:right" | +9%

|-

| style="text-align:left" | Life & Health

| style="text-align:right" | 3.5

| style="text-align:right" | +7%

|-

| style="text-align:left" | Asset Management

| style="text-align:right" | 0.2

| style="text-align:right" | -57%

|-

| style="text-align:left" | Holdings & other

| style="text-align:right" | -1.2

| style="text-align:right" | stable

|-

| style="text-align:right" | 7.9

| style="text-align:right" | 9.8

| style="text-align:left" | Non-financial flows

| style="text-align:right" | -0.5

| style="text-align:right" | —

|-

| style="text-align:left" | Capital gains from AXA IM disposal

| style="text-align:right" | —

| style="text-align:right" | —

|-

| style="text-align:left" | Financial flows (incl. RCG)

| style="text-align:right" | -0.7

| style="text-align:right" | —

|-

| style="text-align:right" | 3.59

| style="text-align:right" | 3.86

|}

</div>

* '''Underlying earnings''' driven by strong performance from insurance businesses ^{p. 21}

* '''Holding cost''' stable, expected to remain at current level in 2026 ^{p. 21}

* '''Net income''' mainly reflecting higher underlying earnings and the gain from the sale of AXA IM ^{p. 21}

* '''Financial flows''' lower, reflecting unfavorable forex impact ^{p. 21}

* Including -1% from temporary earnings dilution from AXA IM sale due to timing of anti-dilutive share buyback ^{p. 21}

 

|+ Shareholders' equity and related metrics ^{p. 22}

! style="text-align:left" | EUR billion unless otherwise mentioned

! class="col-s" style="text-align:right" | FY25

|-

| style="text-align:right" | 17.5%

| style="text-align:right" | 16.0%

|-

| style="text-align:left" | Opening Shareholders' equity

| style="text-align:right" | 49.9

| style="text-align:right" | 45.5

|-

| style="text-align:left" | Change in Net OCI

| style="text-align:right" | 1.3

| style="text-align:right" | 0.4

|-

| style="text-align:left" | Net income for the period

| style="text-align:right" | 9.8

| style="text-align:right" | 5.9

|-

| style="text-align:left" | Dividend

| style="text-align:right" | -4.6

| style="text-align:right" | —

|-

| style="text-align:left" | Annual share buyback

| style="text-align:right" | -1.2

| style="text-align:right" | —

|-

| style="text-align:right" | -3.5

| style="text-align:right" | -3.5

|-

| style="text-align:left" | Undated subordinated debt (including interest charges)

| style="text-align:right" | -0.3

| style="text-align:right" | -1.2

|-

| style="text-align:left" | Forex

| style="text-align:right" | -3.5

| style="text-align:right" | -0.1

|-

| style="text-align:left" | Other

| style="text-align:right" | -0.6

| style="text-align:right" | 0.3

|-

| style="text-align:left" | Closing Shareholders' equity

| style="text-align:right" | 47.2

| style="text-align:right" | 47.2

|}

</div>

** Social media icons for YouTube, Facebook, Instagram, Twitter, LinkedIn, and a leaf icon ^{p. 29}

 

 

* Appendices ^{p. 30}

== Abbreviations ==

 

* '''ABS''': Asset-Backed Securities

* '''AEP''': Aggregate Exceedance Probability

* '''AMF''': Autorité des Marchés Financiers

* '''APAC''': Asia-Pacific

* '''BNP''': Banque Nationale de Paris

* '''CDP''': Carbon Disclosure Project

* '''GAAP''': Generally Accepted Accounting Principles

* '''GEP''': Gross Earned Premium

* '''GWP''': Gross Written Premiums

* '''HKD''': Hong Kong Dollar

* '''JPY''': Japanese Yen

* '''LATAM''': Latin America

* '''MSCI''': Morgan Stanley Capital International

* '''MX''': Mexico

* '''PVEP''': Present Value of Expected Profits

* '''PYD''': Prior Years' Reserve Development

* '''ROE''': Return On Equity

* '''SCR''': Solvency Capital Requirement