AXA interim 2024 earnings – growth comes from all segments

AXA has released its interim earnings report for the first nine months of 2024, outlining its improved performance across all segments of the global business.

Here are the numbers posted by the insurer in the three quarters ended September 30:

Lifting the lid on the 9M financials, chief financial officer Alban de Mailly Nesle said: “AXA continued to deliver excellent performance, achieving 7% revenue growth in the first nine months of 2024. We are growing across all our businesses and geographies, reflecting strong execution of our growth agenda.

“This is driven by targeted pricing actions, improved customer retention, and our focus on taking market share in attractive business segments. Scaling organic growth is a core lever of our plan, alongside our continued focus on technical and operational excellence.”

Breaking down the results per division, the CFO noted: “Revenue growth in P&C commercial lines was again strong, with premiums up 7%, driven by higher volumes and disciplined pricing. P&C personal lines premiums were up 6%, reflecting continued repricing, notably in the UK and Germany.

“Our life & health business mix remained of high quality, with premiums up 7%, supported by good growth dynamics in employee benefits, and unit-linked sales following successful commercial campaigns.”

According to the finance chief, AXA’s Solvency II ratio stood at 221% by the end of September, with the insurance group maintaining what he described as a “very solid” balance sheet.

“We have today an attractive business model, with a diversified risk profile and high-quality businesses with strong positioning in the markets we have chosen,” he highlighted. “This has produced consistent results quarter after quarter. We are confident in the execution of our new plan.”

What do you think about this story? Share your thoughts in the comments below.