French Insurer AXA Reports Profit Rise After Asset Manager Sale

By Elena Vardon

AXA reported a jump in net profit for 2025 after disposing of its asset management unit as part of a plan to refocus on core insurance operations.

The French insurer on Thursday posted 9.80 billion euros ($11.53 billion) in net profit for the year ended Dec. 31. This was 24% ahead of 2024's result on a reported basis due to top-line growth as well as the one-off impact from the sale of AXA Investment Managers to BNP Paribas, which closed in July. Analysts had expected it to report 9.74 billion euros, according to a company-compiled consensus.

The group reported 115.52 billion euros in gross written premiums--which reflect the commercial activity of its insurance operations--and other revenue, up 5% on year and against consensus of 116.51 billion euros.

This top-line expansion was fueled by both the property and casualty division, which recorded higher volumes and favorable pricing across commercial, personal, and reinsurance lines, and the life and health unit, which saw strong momentum in protection, unit-linked, and health products.

On an underlying basis, AXA's earnings came in at 8.37 billion euros, up 4% on year on a reported basis. Earnings per share were up 8% to 3.86 euros as the impact of its share buyback helped offset unfavorable currency translation effects.

For 2026, the final year of its current business plan, AXA guided for underlying earnings per share growth to stay constant at the upper end of its 6% to 8% targeted range. The group is confident that it will meet most of its targets for the current cycle and is scheduled to outline new goals for the period through 2029 on Sept. 21, it said.

The insurer's solvency II ratio--a measure of financial strength--improved to stand at 224% as of Dec. 31 against consensus of 219%.

AXA's board is declaring a dividend of 2.32 euros a share and approved an up to 1.25 billion-euro share buyback program.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

February 26, 2026 01:05 ET (06:05 GMT)