AXA develops its Financial Protection business under a single brand, in a way that not only respects its values and commitments but also supports its ambition of attaining leadership in its industry.
80 million individuals and businesses have placed their trust in AXA to:
- protect their property (vehicle, home, equipment, etc.)
- protect their families and employees (health, personal protection, employee benefits)
- manage their personal and business assets.
214 044 employees and exclusive sales associates around the world are dedicated to delivering AXA clients the solutions and services they expect.
Activity indicators
IFRS, in Euro million |
2004 |
2005 |
2006 |
2007 |
2008 |
Life & Savings |
4 808 |
5 476 |
6 186 |
7 694 |
6 789 |
P&C |
17 852 |
18 874 |
19 510 |
25 016 |
26 039 |
International Insurance |
3 363 |
3 813 |
3 716 |
3 568 |
2 841 |
Asset Management |
3 084 |
3 440 |
4 406 |
4 863 |
3 947 |
(1) APE (Annual Premium Equivalent): represents 100% of new business regular premiums + 10% of new business single premiums, in line with EEV methodology. APE is group share.
Geographic breakdown of 2008 insurance revenues
France |
23% |
North America |
17% |
Northern Europe |
25% |
UK & Ireland |
9% |
Asia-Pacific (including Japan) |
10% |
Mediterranean region |
13% |
International insurance* |
3% |
*excluding AXA RE
Assets under management
|
2004 |
2005 |
2006 |
2007 |
2008 |
Total (in Euro billion) |
871 |
1,070 |
1,315 |
1,281 |
981 |
By company |
|
|
|
||
AllianceBernstein |
45% |
46% |
43% |
42% |
34% |
AXA Investment Managers |
40% |
40% |
38% |
43% |
49% |
Other AXA companies |
15% |
14% |
19% |
15% |
17% |
Breakdown of Asset under Management |
|
|
|
||
Managed on behalf of third party |
51% |
54% |
51% |
51% |
42% |
Own account |
36% |
33% |
35% |
34% |
44% |
Life insurance separate accounts |
13% |
13% |
14% |
14% |
13% |
Balance sheet indicators
|
2004 |
2005 |
2006 |
2007 |
2008 |
Consolidated shareholders' equity (group share, in Euro billion) |
28,5 |
36,5 |
47,2 |
45,6 |
37,4 |
Profitability indicators
2004 |
2005 |
2006 |
2007 |
2008 | |
Contribution to consolidated underlying earnings(2) (in Euro million) |
|||||
Life & Savings |
1 563 |
1 931 |
2 270 |
2 670 |
1 508 |
| P&C | 1 102 |
1 346 |
1 417 |
1 863 |
2 394 |
| International insurance | 138 |
68 |
131 |
218 |
188 |
| Asset management | 300 |
396 |
508 |
590 |
589 |
| Other financial services & holdings | -465 |
-404 |
-406 |
-378 |
-635 |
Underlying earnings |
2 637 |
3 337 |
3 919 |
4 963 |
4 044 |
| Net capital gains | 705 |
944 |
1 107 |
1 175 |
-346 |
Adjusted earnings(3) |
3 342 |
4 281 |
5 026 |
6 138 |
3 699 |
Net income, group share |
3 738 |
4 318 |
5 085 |
5 666 |
923 |
|
|
||||
Adjusted EPS(6) (in Euro, fully diluted) |
1,74 |
2,15 |
2,51 |
2,84 |
1,66 |
| |||||
Dividend(4) per share (in Euro) |
0,61 |
0,88 |
1,06 |
1,20 |
0,4 |
|
|
||||
Underlying ROE(5) |
14,2% |
13,3% |
14,9% |
15,7% |
0,121 |
Adjusted ROE |
18,1% |
17,0% |
19,2% |
19,7% |
0,11 |
|
| ||||
P&C combined ratio |
98,5% |
97,7% |
96,9% |
97,6% |
0,955 |
| Life & savings New Business Value (in euro million) | 895 |
1 138 |
1 501 |
1 705 |
985 |
| Life & Savings NBV / APE margin | 18,6% |
20,8% |
24,1% |
23,0% |
0,145 |
|
|
||||
Asset managers net inflows (in Euro billion) |
36 |
56 |
73 |
28 |
-28 |
(2) Underlying earnings are adjusted earnings, excluding net capital gains attributable to shareholders.
(3) Adjusted earnings represent net income before the impact of exceptional operations, goodwill and related intangibles amortization/impairments, and profit or loss on financial assets (under the fair value option) and derivatives.
(4) 2008 dividend to be proposed at the April 30, 2009 AXA shareholders' Meeting.
(5) Return on equity ratios are based on average shareholders equity for the period, excluding fair value on invested assets.
(6) Net of interest charges on TSS & TSDI.