AXA: confident about underlying earnings growth
(CercleFinance.com) - Total gross written premiums and other revenues were up 7% to E84bn over 9 months, driven by property-casualty insurance (+7% to E44.
5bn), underpinned by growth in commercial lines (+7%), personal lines (+6%) and AXA XL Reinsurance (+10%).
In life and health insurance, premiums were up 7% to E38.2bn over 9 months, including a 7% increase in life insurance, reflecting a rise in unit-linked premiums (+14%).
Asset management sales were up 6%, due to a rise in management fees reflecting the increase in average assets under management.
The Solvency II ratio stood at 221% at 30 September 2024, down 6 points on 30 June 2024.
The group expects to maintain its good operating performance and is confident in its ability to achieve growth in operating earnings per share in 2024 in line with the target announced in the strategic plan, i.e. 6% to 8% per annum on average between 2023 and 2026e, management says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5bn), underpinned by growth in commercial lines (+7%), personal lines (+6%) and AXA XL Reinsurance (+10%).
In life and health insurance, premiums were up 7% to E38.2bn over 9 months, including a 7% increase in life insurance, reflecting a rise in unit-linked premiums (+14%).
Asset management sales were up 6%, due to a rise in management fees reflecting the increase in average assets under management.
The Solvency II ratio stood at 221% at 30 September 2024, down 6 points on 30 June 2024.
The group expects to maintain its good operating performance and is confident in its ability to achieve growth in operating earnings per share in 2024 in line with the target announced in the strategic plan, i.e. 6% to 8% per annum on average between 2023 and 2026e, management says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.