AXA SA ( (AXAHY) ) has released its Q4 earnings. Here is a breakdown of the information AXA SA presented to its investors.
AXA SA is a global leader in insurance and asset management, operating in over 50 countries with a focus on providing a wide range of insurance products and services, including property and casualty, life and health insurance, and asset management solutions.
AXA SA reported robust financial results for the full year 2024, marking a successful first year of its strategic plan ‘Unlock the Future.’ The company achieved record growth in topline and underlying earnings per share, both increasing by 8%, with significant cash generation exceeding 7 billion euros.
Key financial highlights include a total gross written premium and other revenues increase of 8% to 110 billion euros, driven by growth across all business lines. The Property & Casualty segment saw a 7% rise in premiums, while Life & Health premiums grew by 8%. Asset Management revenues also increased by 8%, supported by higher management fees. Underlying earnings rose by 7% to 8.1 billion euros, with net income climbing 11% to 7.9 billion euros. The company also announced a dividend increase of 9% to 2.15 euros per share and a share buy-back program of up to 1.2 billion euros.
Despite a slight decline in the Solvency II ratio to 216%, AXA remains confident in its financial stability and strategic direction. The company plans to continue its focus on profitable growth and operational excellence as part of its ‘Unlock the Future’ plan, aiming for a 6-8% CAGR in underlying earnings per share from 2023 to 2026.
Looking ahead, AXA is committed to maintaining strong financial performance and shareholder returns, with a focus on executing its strategic initiatives to drive growth and value creation. The management remains optimistic about achieving its financial targets and sustaining its market leadership position.