PARIS (Reuters) – AXA reported on Tuesday growth in its revenues higher than expectations for the first quarter of 2025, carried by all of its activities, and said it was well positioned to achieve its objectives by 2026.
The third European insurance group in terms of market capitalization has published an increase of 7% in a comparable base of its gross premiums issued and other revenues for the first three months of the year 2025, at 37 billion euros.
Analysts awaited raw bonuses issued and other revenues of 36.3 billion euros, according to a median consensus compiled by the group and communicated to analysts at the end of April.
“We are well positioned for the achievement of our objectives by 2026 and this despite the complex context that we have known internationally since the beginning of the year,” said Alban de Mailly Nesle, AXA financial director, during a conference call with journalists.
“We do not see any impact of these economic uncertainties on our indicators,” he added, evoking a reduced exposure to financial risks as well as to the countries most affected by customs duties and car insurance in the United States “which could be the insurance sector most affected by customs prices and inflation”.
During the first quarter, damage insurance premiums increased by 7% to 21 billion euros and those in life and health insurance from 8% to 15.5 billion euros.
AXA said it maintained its annual budget linked to natural disasters at 4.5 -point -combined ratio points after a loss of 0.1 billion euros in the first quarter “less than the proratized annual budget”, according to the press release.
Asset management revenues increased from 8% to 0.4 billion euros for a discollet of 4 billion euros “reflecting in particular the expected termination of a mandate with a low margin”, still according to the press release.
The Solvency II ratio was 213% at the end of March 2025, down 3 points compared to 2024 and slightly lower than the 217% expected by the median consensus.
(Written by Bertrand de Meyer, edited by Blandine Hénault)
Copyright © 2025 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
