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AXA provides year-round financial results

AXA has announced its full-year 2021 (FY21) results, thanks to certain key strategies, and is proud of its strong revenue growth and outstanding performance.

Overall, AXA’s total sales reached € 99,931 million, an increase of 6% from € 96,723 million in 2020, and sales increased in all business areas.

  • Non-life insurance (P & C): The commercial line increased by 5% from FY2008 with 3% revenue growth, a favorable price effect mainly on AXA XL, and stable revenue on the personal line.
  • Health: Increased by 5% from FY2008, mainly in the French group business, with continued revenue growth in most regions.
  • Life and Savings: An increase of 9% from 2008, reflecting the strong performance of personal savings in France. It is primarily linked to the unit. Revenues also increased significantly in Asia, mainly Japan and Hong Kong.When
  • Asset management: Increased by 20% from FY2008 due to an increase in management fees and success fees.

Over the same period, AXA’s underlying revenues reached € 6,762 million, a dramatic increase of 61% from € 4,264 million in 2008 due to growth in all business areas.

  • P & C: An increase of 151% from FY2008 due to the non-repeated impact of COVID-19-related claims in 2020 and strong underwriting results, especially in AXA XL.
  • Health: Increased by 2% from FY2008, primarily due to higher sales volumes and lower taxes in most regions, but was partially offset by higher billing in Mexico.
  • Life and Savings: Increased by 3% from FY2008. This is primarily related to higher fees and revenues, and higher net technology margins.When
  • Asset management: Increased by 25% from FY2008, reflecting steady growth in earnings and a decline in the rate of return on costs.

AXA CEO Thomas Buberl commented that AXA performed well in 2009 thanks to its strategy of transforming and simplifying the group.

“AXA focuses on implementing ambitious capital management and effective initiatives to grow businesses that generate high cash while limiting volatility and to support sustainable and attractive returns. “Buberl said.

Given AXA’s strong performance and balance sheet, the Board of Directors has proposed a dividend of € 1.54 per share. This is an 8% increase from last year, which is equivalent to a 56% dividend rate.

“I have reflected the relevance of our strategy, the strong involvement of our people, agents and partners, and the continued trust of our clients throughout the 2021 and COVID-19 crisis of the Group. We are proud of our performance, “said Buberl.

“AXA is implementing all five strategic actions of the’Driving progress 2023’plan. We expect to reach the upper limit of the revenue growth target range and exceed the planned cumulative cash upstream target. “

AXA provides year-round financial results

Source link AXA provides year-round financial results

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