February 26, 2026
Full Year 2025 Earnings
AXA reports record results with underlying EPS growth at the top end of the target range.
1 minute
Thomas Buberl
Chief Executive Officer of AXA
In 2025, AXA delivered another year of very strong performance, with +9% earnings growth in our core businesses excluding AXA IM. We have taken advantage of these excellent results to further enhance reserve prudence.
Our P&C franchise posted stellar results, combining a healthy balance between price and volume with best‑in‑class margins, a lower expense ratio and higher investment income. AXA XL Insurance increased earnings with stable underlying margins. In Life & Health, earnings rose by 7%, with Life already reflecting the early benefits of our strategy to rejuvenate the business and Health growing by 17% even after absorbing the adverse change on VAT treatment in Mexico, underlining the strength of our portfolio. Our investments in automation and Artificial Intelligence are paying off, driving efficiency gains. Our Solvency II ratio is at a very strong level,
said Thomas Buberl.
Thomas Buberl
Chief Executive Officer of AXA
These results demonstrate the earnings power of our well-diversified franchise and reinforce our confidence in AXA’s ability to generate sustainable, long‑term value. I would like to thank all our colleagues, agents and partners for their commitment, as well as our customers for their continued trust.
