Access the AXA Group’s earnings-related financial information: the 1Q and 9M activity indicators but also the half-year and annual results.

Earnings Presentations

The AXA Group has published its Half Year 2023 Earnings on August 3rd, 2023 at 6:00am (BST).

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Investors

Half Year 2023 Earnings

The AXA Group has published its Half Year 2023 Earnings on August 3rd, 2023 at 6:00am (BST).

Follow the live presentation to analysts and investors at 11:00am (BST).

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Gross revenues

Dividend per share

Solvency II ratio

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.

Revenues

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.

Net Income

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.

Underlying Earnings

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).

Revenues by geographic region

Underlying earnings

Financial Data

Full Year 2022 Earnings - Growth across the board and balance sheet strength

Key Figures

AXA_PR_20230912.pdf

In the context of the AXA Group’s 2023 employee share offering (Shareplan 2023)* and in order to eliminate any associated dilutive effect, AXA has executed today a share repurchase agreement with an investment services provider, whereby AXA will buy back its own shares for cancellation for a maximum amount of Euro 384,700,000, in accordance with the terms of its share repurchase program**.

#AXA Elimination of the dilutive impact of Shareplan 2023

Elimination of the dilutive impact of Shareplan 2023

Shareplan 2023 _CP_Annonce_VA_22.08.2023 FINAL.pdf

PDF Format

As each year, the AXA Group offers to its employees, in and outside of France, the opportunity to subscribe to shares issued by way of a capital increase reserved to employees.

The 2023 offering, called “Shareplan 2023”, will take place in 40 countries and will involve more than 110,000 employees who will, in most countries, be offered the opportunity to participate in both a classic offer and a “guarantee plus offer”.

AXA launches its 2023 employee share offering (Shareplan 2023)

AXA_PR_HY23_20230803.pdf

August 3, 2023 - "AXA delivered another good set of results in the first half of 2023, reflecting the strength of our business model", said Thomas Buberl, Chief Executive Officer of AXA.

May 15, 2023 - "AXA performed well in the first quarter of 2023. We delivered robust growth in technical lines and our balance sheet remains very strong with a 217% Solvency II ratio", said Alban De Mailly Nesle, Group Chief Financial Officer.

AXA 1Q23 Activity indicators

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Elimination of the dilutive impact of Shareplan 2023

AXA launches its 2023 employee share offering (Shareplan 2023)

Half Year 2023 Earnings

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