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| period = FY
| period_label = FY24
| document_category = Financial supplement
| document_name = AXA FY 2024 Financial Supplement (Excel)
| publication_date = 2025-02-27
| language = English
| source_url = https://www-axa-com.cdn.prismic.io/www-axa-com/aN0dW55xUNkB1XEB_AXA_Financial_Supplement_2024.xlsx.xlsm
| archive_file = File:AXA-2024-FY-Financial_supplement.md
| intro_sentencearchive_file = AXA Full Year= 2024<!-- financialARCHIVE_MD_LINK_HERE supplement.-->
| intro_sentence = This article presents AXA's FY 2024 financial supplement — the detailed data tables behind the period's results.
}}
 
''AXAThis Fullarticle Yearpresents AXA's FY 2024 financial supplement — the detailed data tables behind the period's results.''
 
== Market Data ==
 
====== Exchange rate by currency ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Exchange rate by currency
! style="text-align:left" | —
! class="col-s" style="text-align:right" | 1H23
Line 79 ⟶ 82:
|}
</div>
 
====== Discount rate 5Y by currency ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Discount rate 5Y by currency
! style="text-align:left" | %
! class="col-s" style="text-align:right" | Average 1H23
Line 126 ⟶ 130:
|}
</div>
 
====== Discount rate 10Y by currency ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Discount rate 10Y by currency
! style="text-align:left" | %
! class="col-s" style="text-align:right" | Closing 1H23
Line 175 ⟶ 180:
 
== UE by LOB and Net Income ==
 
====== Group underlying earnings and net income build-up by business unit ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Group underlying earnings and net income build-up by business unit
! style="text-align:left" | EUR million
! colspan="4" style="text-align:center" | Group
Line 827 ⟶ 833:
 
== UE by Geography ==
 
====== Underlying earnings build-up by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Underlying earnings build-up by geography
! style="text-align:left" | EUR million
! colspan="4" style="text-align:center" | Group
Line 1,381 ⟶ 1,388:
|}
</div>
 
====== Underlying earnings build-up by line of business and geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Underlying earnings by line of business and geography
! style="text-align:left" | EUR million
! colspan="4" style="text-align:center" | Group
Line 1,577 ⟶ 1,585:
 
== Shares & UEPS ==
 
====== Basic number of shares rollforward ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
! style="text-align:left" |
|+ Basic number of shares rollforward and fully diluted EPS
! style="text-align:left" | million
! colspan="2" style="text-align:center" | Outstanding Shares Excluding Treasury Shares {{footnote|1=Under IFRS, Treasury shares are not considered as outstanding shares. Treasury shares amounted to 44 million shares as of FY23 and 39 million shares as of FY24.}}
! colspan="2" style="text-align:center" | Weighted Average Number
Line 1,732 ⟶ 1,741:
 
== P&C UE by Sub LOB ==
 
====== Property & casualty underlying earnings build-up by line of business ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Property & casualty underlying earnings build-up by line of business
! style="text-align:left" | EUR million
! colspan="4" style="text-align:center" | Total
Line 1,831 ⟶ 1,841:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Undiscounted Current Accident Year Loss Ratio (excl. Nat Cats)
| style="text-align:right" | 68.2%
| style="text-align:right" | 68.5%
Line 1,853 ⟶ 1,863:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Undiscounted Current Accident Year Nat Cats
| style="text-align:right" | 3.0%
| style="text-align:right" | 4.8%
Line 1,875 ⟶ 1,885:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Current Accident Year Discounting
| style="text-align:right" | -4.2%
| style="text-align:right" | -3.7%
Line 2,095 ⟶ 2,105:
| style="text-align:right" | -20
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Investment Income
| style="text-align:right" | 1,531
| style="text-align:right" | 3,344
Line 2,117 ⟶ 2,127:
| style="text-align:right" | -20
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Insurance Finance Expenses
| style="text-align:right" | -339
| style="text-align:right" | -623
Line 2,337 ⟶ 2,347:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA
| style="text-align:right" | 0
| style="text-align:right" | 0
Line 2,359 ⟶ 2,369:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Non VFA
| style="text-align:right" | 106,511
| style="text-align:right" | 111,635
Line 2,450 ⟶ 2,460:
 
== P&C UE by Geography ==
 
====== Property & casualty profitability analysis by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Property & casualty profitability analysis by geography
! style="text-align:left" | EUR million
! colspan="28" style="text-align:center" | PROPERTY & CASUALTY PROFITABILITY ANALYSIS BY GEOGRAPHY
Line 2,675 ⟶ 2,686:
| style="text-align:right" | 51.0%
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Undiscounted Current Accident Year Loss Ratio (excl. Nat Cats)
| style="text-align:right" | 68.2%
| style="text-align:right" | 68.5%
Line 2,705 ⟶ 2,716:
| style="text-align:right" | 51.1%
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Undiscounted Current Accident Year Nat Cats
| style="text-align:right" | 3.0%
| style="text-align:right" | 4.8%
Line 2,735 ⟶ 2,746:
| style="text-align:right" | 1.1%
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Current Accident Year Discounting
| style="text-align:right" | -4.2%
| style="text-align:right" | -3.7%
Line 3,428 ⟶ 3,439:
 
== L&H UE by LOB ==
 
====== Life & health underlying earnings by line of business build-up ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Life & Health underlying earnings by line of business build-up
! style="text-align:left" | EUR million
! colspan="4" style="text-align:center" | Total
Line 3,582 ⟶ 3,594:
| style="text-align:right" | 37
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Actual vs. Expected Cash Flows
| style="text-align:right" | 14
| style="text-align:right" | -21
Line 3,600 ⟶ 3,612:
| style="text-align:right" | -2
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Risk Adjustment Release
| style="text-align:right" | 25
| style="text-align:right" | 49
Line 3,618 ⟶ 3,630:
| style="text-align:right" | 4
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Changes in Onerous Contracts
| style="text-align:right" | -10
| style="text-align:right" | -49
Line 3,636 ⟶ 3,648:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Long-term
| style="text-align:right" | -70
| style="text-align:right" | -126
Line 3,690 ⟶ 3,702:
| style="text-align:right" | 157
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Investment Income
| style="text-align:right" | 1,222
| style="text-align:right" | 2,480
Line 3,708 ⟶ 3,720:
| style="text-align:right" | 429
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Insurance Finance Expenses
| style="text-align:right" | -791
| style="text-align:right" | -1,592
Line 3,888 ⟶ 3,900:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA
| style="text-align:right" | 220,957
| style="text-align:right" | 227,634
Line 3,906 ⟶ 3,918:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Non VFA
| style="text-align:right" | 118,555
| style="text-align:right" | 112,145
Line 4,014 ⟶ 4,026:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA Gross of reinsurance
| style="text-align:right" | 260,026
| style="text-align:right" | 266,805
Line 4,032 ⟶ 4,044:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w BBA Gross of reinsurance
| style="text-align:right" | 55,255
| style="text-align:right" | 54,477
Line 4,050 ⟶ 4,062:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Reinsurance
| style="text-align:right" | -9,180
| style="text-align:right" | -9,152
Line 4,071 ⟶ 4,083:
 
== L&H UE by Geography ==
 
====== Life & health profitability analysis by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Life & Health profitability analysis by geography
! style="text-align:left" | EUR million
! colspan="24" style="text-align:center" | LIFE & HEALTH PROFITABILITY ANALYSIS BY GEOGRAPHY
Line 4,372 ⟶ 4,385:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Actual vs. Expected Cash Flows
| style="text-align:right" | 14
| style="text-align:right" | -21
Line 4,398 ⟶ 4,411:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Risk Adjustment Release
| style="text-align:right" | 25
| style="text-align:right" | 49
Line 4,424 ⟶ 4,437:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Changes in Onerous Contracts
| style="text-align:right" | -10
| style="text-align:right" | -49
Line 4,450 ⟶ 4,463:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Long-term
| style="text-align:right" | -70
| style="text-align:right" | -126
Line 4,528 ⟶ 4,541:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Investment Income
| style="text-align:right" | 1,222
| style="text-align:right" | 2,480
Line 4,554 ⟶ 4,567:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Insurance Finance Expenses
| style="text-align:right" | -791
| style="text-align:right" | -1,592
Line 4,918 ⟶ 4,931:
| style="text-align:right" | '''0'''
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA Gross of reinsurance
| style="text-align:right" | 260,026
| style="text-align:right" | 266,805
Line 4,944 ⟶ 4,957:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w BBA Gross of reinsurance
| style="text-align:right" | 55,255
| style="text-align:right" | 54,477
Line 4,970 ⟶ 4,983:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Reinsurance
| style="text-align:right" | -9,180
| style="text-align:right" | -9,152
Line 4,999 ⟶ 5,012:
 
== Life UE by Geography ==
 
====== Life profitability analysis by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Life profitability analysis by geography
! style="text-align:left" | EUR million
! colspan="24" style="text-align:center" | LIFE PROFITABILITY ANALYSIS BY GEOGRAPHY
Line 5,300 ⟶ 5,314:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Actual vs. Expected Cash Flows
| style="text-align:right" | -5
| style="text-align:right" | -46
Line 5,326 ⟶ 5,340:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Risk Adjustment Release
| style="text-align:right" | 22
| style="text-align:right" | 41
Line 5,352 ⟶ 5,366:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Changes in Onerous Contracts
| style="text-align:right" | -9
| style="text-align:right" | -48
Line 5,378 ⟶ 5,392:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Long-term
| style="text-align:right" | -59
| style="text-align:right" | -105
Line 5,456 ⟶ 5,470:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Investment Income
| style="text-align:right" | 1,073
| style="text-align:right" | 2,183
Line 5,482 ⟶ 5,496:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Insurance Finance Expenses
| style="text-align:right" | -723
| style="text-align:right" | -1,454
Line 5,846 ⟶ 5,860:
| style="text-align:right" | '''0'''
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA Gross of reinsurance
| style="text-align:right" | 240,192
| style="text-align:right" | 245,954
Line 5,872 ⟶ 5,886:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w BBA Gross of reinsurance
| style="text-align:right" | 55,396
| style="text-align:right" | 55,035
Line 5,898 ⟶ 5,912:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Reinsurance
| style="text-align:right" | -9,043
| style="text-align:right" | -9,037
Line 5,927 ⟶ 5,941:
 
== Health UE by Geography ==
 
====== Health profitability analysis by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Health profitability analysis by geography
! style="text-align:left" | EUR million
! colspan="24" style="text-align:center" | HEALTH PROFITABILITY ANALYSIS BY GEOGRAPHY
Line 6,228 ⟶ 6,243:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Actual vs. Expected Cash Flows
| style="text-align:right" | 20
| style="text-align:right" | 25
Line 6,254 ⟶ 6,269:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Risk Adjustment Release
| style="text-align:right" | 3
| style="text-align:right" | 8
Line 6,280 ⟶ 6,295:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Changes in Onerous Contracts
| style="text-align:right" | 0
| style="text-align:right" | -2
Line 6,306 ⟶ 6,321:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Long-term
| style="text-align:right" | -11
| style="text-align:right" | -20
Line 6,384 ⟶ 6,399:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Investment Income
| style="text-align:right" | 149
| style="text-align:right" | 297
Line 6,410 ⟶ 6,425:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Insurance Finance Expenses
| style="text-align:right" | -68
| style="text-align:right" | -137
Line 6,774 ⟶ 6,789:
| style="text-align:right" | '''0'''
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w VFA Gross of reinsurance
| style="text-align:right" | 19,834
| style="text-align:right" | 20,850
Line 6,800 ⟶ 6,815:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w BBA Gross of reinsurance
| style="text-align:right" | -140
| style="text-align:right" | -558
Line 6,826 ⟶ 6,841:
| style="text-align:right" | 0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | o/w Reinsurance
| style="text-align:right" | -137
| style="text-align:right" | -115
Line 6,855 ⟶ 6,870:
 
== Asset Management ==
 
====== Opening AUM rollforward by asset type ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Asset management rollforward
! style="text-align:left" | EUR million
! colspan="2" style="text-align:center" | 1H23
Line 6,935 ⟶ 6,951:
| style="text-align:right" | '''356'''
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Alternatives
| style="text-align:right" | 223
| style="text-align:right" | 89
Line 6,945 ⟶ 6,961:
| style="text-align:right" | 90
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Core & Other
| style="text-align:right" | 520
| style="text-align:right" | 232
Line 6,955 ⟶ 6,971:
| style="text-align:right" | 266
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Asian Joint Ventures
| style="text-align:right" | 97
| style="text-align:right" | —
Line 6,985 ⟶ 7,001:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Management Fees
| style="text-align:right" | 673
| style="text-align:right" | 377
Line 6,995 ⟶ 7,011:
| style="text-align:right" | 773
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Performance Fees
| style="text-align:right" | 2
| style="text-align:right" | 0
Line 7,005 ⟶ 7,021:
| style="text-align:right" | 21
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Distribution Fees
| style="text-align:right" | 185
| style="text-align:right" | —
Line 7,015 ⟶ 7,031:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other
| style="text-align:right" | 49
| style="text-align:right" | —
Line 7,035 ⟶ 7,051:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Distribution Fees Retroceded
| style="text-align:right" | -185
| style="text-align:right" | —
Line 7,138 ⟶ 7,154:
 
== Holdings ==
 
====== Holdings underlying earnings build-up {{footnote|1=Includes Bank with Underlying Earnings Group Share of Euro -21 million as of 1H23, -56 million as of FY23, -24 million as of 1H24 and -55 million as of FY24.}} ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Holdings underlying earnings build-up {{footnote|1=Includes Bank with Underlying Earnings Group Share of Euro -21 million as of 1H23, -56 million as of FY23, -24 million as of 1H24 and -55 million as of FY24.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | 1H23
Line 7,203 ⟶ 7,220:
|}
</div>
 
====== Cash balance rollforward at AXA SA by business unit ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Holdings cash balance rollforward
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | 1H23
Line 7,225 ⟶ 7,243:
| style="text-align:right" | 7.7
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Property & Casualty
| style="text-align:right" | —
| style="text-align:right" | 3.6
Line 7,231 ⟶ 7,249:
| style="text-align:right" | 4.0
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Life & Health
| style="text-align:right" | —
| style="text-align:right" | 2.7
Line 7,237 ⟶ 7,255:
| style="text-align:right" | 3.6
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Asset Management & Other
| style="text-align:right" | —
| style="text-align:right" | 0.2
Line 7,288 ⟶ 7,306:
 
== Activity Indicators ==
 
====== Activity indicators by line of business ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Activity indicators by line of business
! style="text-align:left" | EUR million
! colspan="8" style="text-align:center" | 1H23
Line 7,400 ⟶ 7,419:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,202
| style="text-align:right" | —
Line 7,434 ⟶ 7,453:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other NBV {{footnote|1=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.}}
| style="text-align:right" | 362
| style="text-align:right" | —
Line 7,468 ⟶ 7,487:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Tax
| style="text-align:right" | -385
| style="text-align:right" | —
Line 7,571 ⟶ 7,590:
|}
</div>
 
====== Activity indicators by geography ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Activity indicators by geography
! style="text-align:left" | EUR million
! colspan="7" style="text-align:center" | 1H23
Line 7,671 ⟶ 7,691:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | New Business Contractual Service Margin (NB CSM)
| style="text-align:right" | 1,202
| style="text-align:right" | 248
Line 7,701 ⟶ 7,721:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other NBV {{footnote|1=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.}}
| style="text-align:right" | 362
| style="text-align:right" | 163
Line 7,731 ⟶ 7,751:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Tax
| style="text-align:right" | -385
| style="text-align:right" | -106
Line 7,824 ⟶ 7,844:
 
== Balance Sheet ==
 
====== Assets build-up ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Assets build-up, IFRS 17/9
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23 restated {{footnote|1=Following the termination of the sale of a closed life and pensions portfolio at AXA Germany in 2024. It was classified as held for sale in 2023.}}
Line 7,872 ⟶ 7,893:
| style="text-align:right" | 26.1
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Present Value of Future Cash Flows
| style="text-align:right" | 24.1
| style="text-align:right" | 24.1
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Contractual Service Margin
| style="text-align:right" | 0.7
| style="text-align:right" | 1.4
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Risk Adjustment
| style="text-align:right" | 0.5
| style="text-align:right" | 0.5
Line 7,901 ⟶ 7,922:
|}
</div>
 
====== Liabilities, non-controlling interests & shareholders' equity build-up ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Liabilities, non-controlling interests and shareholders' equity build-up, IFRS 17/9
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23 restated {{footnote|1=Following the termination of the sale of a closed life and pensions portfolio at AXA Germany in 2024. It was classified as held for sale in 2023.}}
Line 7,929 ⟶ 7,951:
| style="text-align:right" | 477.0
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Present Value of Future Cash Flows
| style="text-align:right" | 431.1
| style="text-align:right" | 438.4
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Contractual Service Margin
| style="text-align:right" | 34.9
| style="text-align:right" | 35.3
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Risk Adjustment
| style="text-align:right" | 3.1
| style="text-align:right" | 3.3
Line 7,972 ⟶ 7,994:
 
== CSM rollforward ==
 
====== Contractual service margin rollforward by business unit ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Contractual Service Margin (CSM) rollforward by business unit
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | FY22
Line 7,996 ⟶ 8,019:
| style="text-align:right" | '''33,976'''
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | P&C
| style="text-align:right" | 220
| style="text-align:right" | 0
Line 8,006 ⟶ 8,029:
| style="text-align:right" | 206
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Life
| style="text-align:right" | 25,532
| style="text-align:right" | 1,794
Line 8,016 ⟶ 8,039:
| style="text-align:right" | 25,989
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Health
| style="text-align:right" | 7,783
| style="text-align:right" | 424
Line 8,037 ⟶ 8,060:
|}
</div>
 
====== Contractual service margin rollforward by business unit {{footnote|1=Including scope changes and FX ** Following the termination of the sale of a closed life and pensions portfolio at AXA Germany in 2024. It was classified as held for sale in 2023.}} ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Contractual Service Margin (CSM) rollforward by business unit {{footnote|1=Including scope changes and FX ** Following the termination of the sale of a closed life and pensions portfolio at AXA Germany in 2024. It was classified as held for sale in 2023.}}
! style="text-align:left" | EUR million
! class="col-s" style="text-align:right" | FY23 Restated
Line 8,061 ⟶ 8,085:
| style="text-align:right" | '''33,853'''
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | P&C
| style="text-align:right" | 206
| style="text-align:right" | 0
Line 8,071 ⟶ 8,095:
| style="text-align:right" | 282
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Life
| style="text-align:right" | 26,200
| style="text-align:right" | 1,770
Line 8,081 ⟶ 8,105:
| style="text-align:right" | 25,826
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Health
| style="text-align:right" | 7,782
| style="text-align:right" | 400
Line 8,104 ⟶ 8,128:
 
== Invested Assets ==
 
====== General account invested assets build-up by asset class and rating ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ General account invested assets by asset class and rating
! style="text-align:left" | EUR billion
! style="text-align:center" | Fair value
Line 8,154 ⟶ 8,179:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Government Bonds
| style="text-align:right" | 181
| style="text-align:right" | 39%
Line 8,167 ⟶ 8,192:
| style="text-align:right" | 2%
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Corporate Bonds and Loans
| style="text-align:right" | 126
| style="text-align:right" | 27%
Line 8,180 ⟶ 8,205:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Fixed Income
| style="text-align:right" | 52
| style="text-align:right" | 11%
Line 8,193 ⟶ 8,218:
| style="text-align:right" | —
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Asset Backed Securities {{footnote|1=Includes 93% of CLOs.}}
| style="text-align:right" | 21
| style="text-align:right" | 5%
Line 8,206 ⟶ 8,231:
| style="text-align:right" | 4%
|-
| class="wt-indent-2" style="text-align:left; padding-left:3em" | Mortgage Loans {{footnote|1=Residential loans (Euro 16 billion), commercial & agricultural loans (Euro 8 billion) and Agency Pools (Euro 7 billion).}}
| style="text-align:right" | 31
| style="text-align:right" | 7%
Line 8,300 ⟶ 8,325:
 
== Supplementary Info on Asset ==
 
====== Government bonds breakdown by geographical exposure ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Government bonds breakdown by geographical exposure
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,335 ⟶ 8,361:
|}
</div>
 
====== Corporate bonds and loans breakdown by industry ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Corporate bonds and loans breakdown by industry
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,368 ⟶ 8,395:
|}
</div>
 
====== Corporate bonds and loans exposure to financials {{footnote|1=Includes REITS corporate bonds (Euro 4 billion).}} ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Financials exposure breakdown by type {{footnote|1=Includes REITS corporate bonds (Euro 4 billion).}}
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Total
Line 8,398 ⟶ 8,426:
|}
</div>
 
====== Listed equities breakdown by asset domiciliation ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Listed equities breakdown by asset domiciliation
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,427 ⟶ 8,456:
|}
</div>
 
====== Listed equities breakdown by industry {{footnote|1=Excluding hedges.}} ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Listed equities breakdown by industry {{footnote|1=Excluding hedges.}}
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,462 ⟶ 8,492:
|}
</div>
 
====== Real estate breakdown by geographical exposure ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Real estate breakdown by geographical exposure
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,495 ⟶ 8,526:
|}
</div>
 
====== Real estate breakdown by type ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Real estate breakdown by type
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,516 ⟶ 8,548:
|}
</div>
 
====== Private equities breakdown by asset domiciliation ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Private equities breakdown by asset domiciliation
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,535 ⟶ 8,568:
|}
</div>
 
====== Mortgage loans breakdown by type {{footnote|1=Loan to Value: 46%.}} ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Mortgage loans breakdown by type {{footnote|1=Loan to Value: 46%.}}
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Fair Value
Line 8,552 ⟶ 8,586:
 
== Shareholders Equity ==
 
====== Change in Group Share Consolidated Shareholders' Equity rollforward ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Change in group share consolidated shareholders' equity rollforward
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY24
Line 8,574 ⟶ 8,609:
| style="text-align:right" | -1.8
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Comprehensive Income Related to Invested Assets
| style="text-align:right" | -1.7
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Comprehensive Income Related to (re) Insurance Contracts
| style="text-align:right" | -0.1
|-
Line 8,602 ⟶ 8,637:
|}
</div>
 
====== Group Share Consolidated Shareholders' Equity build-up ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Group share consolidated shareholders' equity build-up
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,622 ⟶ 8,658:
| style="text-align:right" | -8.1
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Comprehensive Income Related to Invested Assets
| style="text-align:right" | -11.4
| style="text-align:right" | -13.1
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Other Comprehensive Income Related to (re) Insurance Contracts
| style="text-align:right" | 5.1
| style="text-align:right" | 5.0
Line 8,651 ⟶ 8,687:
|}
</div>
 
====== Book value and shareholders' equity plus CSM per share ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Book value per share and shareholders' equity plus CSM per share
! style="text-align:left" | EUR
! class="col-s" style="text-align:right" | FY23
Line 8,668 ⟶ 8,705:
|}
</div>
 
====== Unrealized gains and losses on invested assets net of tax ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Unrealized gains and losses on invested assets net of tax breakdown
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,719 ⟶ 8,757:
 
== RoE & Gearing ==
 
====== Return on equity ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Return on equity
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,759 ⟶ 8,798:
|}
</div>
 
====== Debt gearing build-up ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Debt gearing build-up
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,771 ⟶ 8,811:
| style="text-align:right" | 3.2
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Financing Debt Instrument Issued
| style="text-align:right" | 2.4
| style="text-align:right" | 3.2
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Financing Debt Owed to Credit Institutions
| style="text-align:right" | 0.0
| style="text-align:right" | 0.0
Line 8,822 ⟶ 8,862:
 
== Information on Solvency ==
 
====== Solvency II rollforward ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Solvency II rollforward
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,871 ⟶ 8,912:
|}
</div>
 
====== Eligible own fund tiering by sector ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Eligible own fund tiering by sector
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | Total
Line 8,896 ⟶ 8,938:
| style="text-align:right" | 0.8
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Ancillary
| style="text-align:right" | —
| style="text-align:right" | —
Line 8,903 ⟶ 8,945:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Subject to Transitional Measures {{footnote|1=Transitional measures on basic own funds apply on subordinated debts eligible under Solvency I regulation. These subordinated debts are also eligible under Solvency II until 2026.}}
| style="text-align:right" | 4.5
| style="text-align:right" | —
Line 8,931 ⟶ 8,973:
| style="text-align:right" | 0.8
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Ancillary
| style="text-align:right" | —
| style="text-align:right" | —
Line 8,938 ⟶ 8,980:
| style="text-align:right" | —
|-
| class="wt-indent-1" style="text-align:left; padding-left:1.5em" | Subject to Transitional Measures {{footnote|1=Transitional measures on basic own funds apply on subordinated debts eligible under Solvency I regulation. These subordinated debts are also eligible under Solvency II until 2026.}}
| style="text-align:right" | 6.6
| style="text-align:right" | —
Line 8,953 ⟶ 8,995:
|}
</div>
 
====== Solvency II key sensitivities ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Solvency II key sensitivities
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | FY23
Line 8,992 ⟶ 9,035:
 
== IFRS17 SHE to Group EOF ==
 
====== Reconciliation IFRS 17/9 shareholders' equity to Solvency II eligible own funds ======
 
<div style="overflow-x:auto">
{| class="wikitable fintable"
|+ Reconciliation IFRS 17/9 shareholders' equity to Solvency II eligible own funds
! style="text-align:left" | EUR billion
! class="col-s" style="text-align:right" | December 31, 2024
Line 9,017 ⟶ 9,061:
| style="text-align:right" | -22.9
|-
| class="wt-indent-4" style="text-align:left; padding-left:7.5em" | Goodwill
| style="text-align:right" | -19.0
|-
| class="wt-indent-4" style="text-align:left; padding-left:7.5em" | others
| style="text-align:right" | -3.8
|-
Line 9,032 ⟶ 9,076:
| style="text-align:right" | -10.2
|-
| class="wt-indent-4" style="text-align:left; padding-left:7.5em" | Risk Margin vs Risk Adjustment
| style="text-align:right" | -6.9
|-
| class="wt-indent-4" style="text-align:left; padding-left:7.5em" | BEL adjustment
| style="text-align:right" | -3.3
|-
Retrieved from "https://www.insurerbrain.com/wiki/AXA/2024/FY/Financial_supplement"