2005 Half Year Results
Analysts meeting - September 22, 2005
Analysts meeting
Summary of the presentation
- 1) Half Year 2005 Earnings - September 22, 2005
- 2) Glossary
- 3) Table of contents - 1 : Introduction
- 4) AXA continued delivering very strong underlying earnings growth ?
- 5) ... owing to a focus on profitable growth throughout the organization ...
- 6) ... further enhanced by targeted development initiatives which will fuel future growth
- 7) Regular harvesting of capital gains is adding to adjusted earnings capacity
- 8) Table of contents - 2 : Overview of financial performance
- 9) The 1H05 activity indicators' evolution fits well into AXA's profitable growth strategy
- 10) Strong positive net cash flows demonstrate AXA?s ability to attract and retain clients
- 11) Strong double-digit growth of underlying earnings
- 12) Life & Savings: robust performance in a continued low interest rate environment
- 13) Life & Savings underlying earnings were driven by fees & revenues and technical margin
- 14) Excluding MONY, Life & Savings underlying earnings were still up a robust 15%*
- 15) Life and Savings: 1H05 significant items in Japan
- 16) Life & Savings: Successful integration of MONY
- 17) Life & Savings: separate account* evolution bodes well for the future
- 18) Asset Management: strong AUM increase, despite the sale of AC Cash Management Services, and better cost income ratios*
- 19) P&C earnings boosted by continued combined ratio and investment income improvement
- 20) P&C: better combined ratio due to improved loss and administrative expense ratios
- 21) International Insurance: 1H05 results reflected expense improvement but were impacted by major losses
- 22) From underlying earnings to net income
- 23) Table of contents - 3 : Balance Sheet & Capital
- 24) Shareholder's equity: strong growth driven by earnings and market improvements
- 25) Unrealized capital gains attributable to shareholders
- 26) Gearing : strong deleveraging of the balance sheet
- 27) Table of contents - 4 : Conclusion
- 28) As a summary, 2005 appears to be on the right track
- 29) Achievements and opportunities are encouraging
- 30) Our long term growth prospects are very good
- 31) Disclaimer
Questions / Answers
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