AXA Upbeat on 2026 Earnings as Insurance Revenue Grows
By Joshua Kirby
AXA said it is confident of meeting the upper end of its earnings target for the year after booking a rise in income at the start of the year.
The French insurer said gross written premiums, which reflect commercial activity in insurance, and other revenue rose 6% on year to 38 billion euros ($44.43 billion) between January and March.
Premiums in the property and casualty line rose 4% to 21.5 billion euros, while those in life and health insurance rose 8% to 16.5 billion euros, AXA said Tuesday.
The company's solvency II ratio--a measure of an insurer's financial strength--fell four percentage points to 211% as of the end of the quarter.
On the back of the results, finance chief Alban de Mailly Nesle said the group was confident in meeting the upper end of targeted 6%-8% growth in underlying earnings per share for the full year.
"In the context of a volatile macro environment, we operate from a position of strength, supported by a robust balance sheet, a Solvency II ratio of 211% and a high-quality investment portfolio," De Mailly Nesle said.
The group last year closed the sale of its asset-management business to lender BNP Paribas for 5.1 billion euros, a move it said would allow it to focus on its core insurance business.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
May 05, 2026 12:23 ET (16:23 GMT)
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