2005 Full Year Earnings
Press meeting - February 28, 2006
Press Meeting
Summary of the presentation
- 1) Full year 2005 Earnings - February 28, 2006
- 2) Disclaimer and Cautionary Statements Concerning Forward-looking Statements
- 3) Note
- 4) Table of contents - 2005 key highlights
- 5) The highlight of the year was the launch of our company project Ambition 2012
- 6) The road to 2012 begins in 2005, with growth in line with long- term targets…
- 7) …and profitability improving in all segments
- 8) Very solid underlying earnings growth
- 9) Adjusted Earnings are reflecting the benefits of having maintained a significant equity exposure
- 10) Our performance boosts our capacity to pay out a higher dividend
- 11) Recent strategic initiatives will contribute to future growth
- 12) Table of contents - Review of financial performance
- 13) Sustained growth in Life & Savings and Asset Management
- 14) Strong positive net cash flows demonstrate AXA’s ability to attract and retain clients
- 15) Strong 2005 underlying performance
- 16) Life & Savings: robust 24% underlying earnings growth
- 17) Life & Savings: successful integration of MONY
- 18) Asset Management: record net inflows of Euro 56 bn in 2005 and strongly improved cost income ratio
- 19) Asset Under Management reach an all-time high and bodes well for future growth
- 20) P&C earnings boosted by continued combined ratio and investment income improvement
- 21) P&C: better combined ratio due to improved loss ratio
- 22) 2006 renewals - another year of disciplined underwriting across our P&C operations…
- 23) International insurance: good performance in a challenging environment for the reinsurance business
- 24) International Insurance: combined ratios reflect disciplined underwriting in a challenging environment
- 25) Table of contents - Balance sheet & capital
- 26) In 2005, we continued to tightly manage our capital base
- 27) Shareholder’s equity: strong growth driven by earnings and market improvements
- 28) Unrealized capital gains attributable to shareholders (after tax)
- 29) Strong and rapid deleveraging of the balance sheet gives us increasing flexibility
- 30) Table of contents - European Embedded Value
- 31) Strong Life & Savings 2005 EEV and New Business metrics (on a bottom-up market consistent approach)
- 32) Significant improvement of Life & Savings NBV
- 33) Life market consistent EEV evolution driven by strong NBV and underlying performance of existing business
- 34) Table of contents - Accelerating growth through differentiation
- 35) The highlight of the year was the launch of our company project Ambition 2012
- 36) Differentiating ourselves from competitors company in 2012
- 37) Differentiation through engagement of 110,000 AXA’s employees
- 38) Differentiation through increasing focus on customer satisfaction
- 39) We are accelerating product innovation and product reuse
- 40) We are improving our processes to deliver quality of service
- 41) We are upgrading and expanding our distribution networks
- 42) Our 2005 performance is a first success on the road to 2012…
- 43) …and 2006 is off to a promising start
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