Back to home of AXA's website

About us

Profile and Key Figures

Present in 51 countries, AXA's 145,000 employees and distributors are committed to serving our 93 million clients. Our areas of expertise are applied to a range of products and services that are adapted to the needs of each and every client across three major business lines: property-casualty insurance, life & savings, and asset management.

Financial Data

Well-established in Western Europe, North American and Asia/Pacific markets, the Group intends to reinforce its growth in the years ahead by intensifying its presence in high-growth markets.

Revenues

Total revenues were up 2%, driven by (i) Property & Casualty (+2%), with growth in Commercial lines Insurance (+5%) from continued favorable price effects, as well as in Personal lines (+4%), driven by higher revenues from favorable price effects in both Motor and non-Motor, partly offset by AXA XL Reinsurance from natural catastrophe exposure reduction (-27%), and (ii) Health (+16%), with strong growth across all geographies.

(in millions of Euro)

Net Income

Net income decreased by 11% to Euro 6.7 billion, mainly from a decline in value of invested assets and derivatives that are fair valued through P&L from unfavorable market impacts, as well as the write-off of Reso Garantia goodwill, partly offset by the increase in underlying earnings.

(in millions of Euro)

Underlying Earnings

Underlying earnings increased by 4% to Euro 7.3 billion, driven by (i) Property & Casualty (+5%), reflecting higher investment income and a resilient underwriting result despite the impact of the war in Ukraine and the non-repeat of elevated Motor claims frequency benefits in Europe in 2021, and (ii) Life & Savings (+11%), from a higher technical margin in France and Japan, and lower expenses, partly compensated by a lower investment margin.

(in millions of Euro)

Solvency II ratio

Solvency II ratio was 215% at December 31, 2022, down 1 point versus December 31, 2021, resulting mainly from (i) the Euro 1.5 billion share buy-back completed in 2022 as well as a provision for the Euro 1.1 billion share buy-back announced today (-10 points), (ii) negative financial market effects (-3 points) notably due to increased implied volatility and lower equity performance, partly compensated by higher interest rates, and (iii) the ineligibility of subordinated debts issued by subsidiaries (-3 points), partly offset by (iv) strong operating returns net of dividend (+9 points), (v) a favorable temporary impact from the change in certain EIOPA risk-free rates relating to the IBOR transition net of the change in the Ultimate Forward Rate (+3 points), (vi) the positive impact from the purchase of additional equity hedges (+2 points), and (vii) the favorable impact from the Belgium in-force transaction (+1 point).

(percentage)

Revenues by geographic region

Direct business revenues are split within geographies

  • Europe (excl. France)
  • France
  • AXA XL
  • Asia
  • International
  • Transversal
Underlying earnings
  • Property & Casualty
  • Health
  • Life and Savings
  • Asset Management and Banking

Find out more