February 22, 2024
published at 7:00 AM CET
Thomas Buberl
Chief Executive Officer of AXA
AXA reported strong results in 2023, reflecting continued execution of its strategy. This also marks the completion of our “Driving Progress 2023” plan. The Group has successfully delivered on all its main financial targets, with underlying earnings per share growing 9%********, cumulative cash remittance of Euro 16.4 billion, and Return on Equity of 14.9%*********, while maintaining a strong Solvency II ratio10 at 227%.
In 2023, we continued to see good growth momentum in our core businesses including P&C, Protection, Capitallight G/A Savings and Health. This was partly offset by lower volumes in AXA XL Reinsurance from a reduction in Property Catastrophe exposure, and in Health following our decision not to renew two legacy international Group contracts. The Group reported Euro 7.6 billion in underlying earnings, reflecting a strong operational performance in P&C, in particular at AXA XL.
Today we announce our new three-year strategic plan, “Unlock the Future”, building on our successful strategy that has delivered excellent performance. We will focus on growing and strengthening our core businesses by systematically scaling our distinct capabilities across the Group to deliver even more value to all of our stakeholders.
I would like to thank all of our colleagues, agents and partners for their commitment and support, as well as our customers for their continued trust.”
Investor Relations team
Axa Media Relations