AXA reveals earnings for first half – CEO’s future outlined


AXA reveals earnings for first half – CEO’s future outlined

Outcomes season continues with Paris-headquartered insurance coverage group AXA releasing its interim numbers for the primary half of the 12 months.

For H1 2021, AXA’s gross revenues amounted to €53.9 billion, representing a 7% improve (at fixed Foreign exchange) from the corresponding determine final 12 months. Underlying earnings, in the meantime, grew 101% to €3.6 billion.

AXA additionally noticed a 191% (180% on a reported foundation) surge in internet earnings, from €1.4 billion in H1 2020 to almost €4 billion this time round. The insurer’s Solvency II ratio stood at 212%

Damaged down revenues-wise at fixed Foreign exchange, right here’s how AXA carried out within the first six months:








Phase

H1 2021 revenues

Change from H1 2020

Property & casualty

€28.1 billion

4%

Life & financial savings

€16.9 billion

12%

Well being

€7.9 billion

3%

Asset administration

€704 million

17%

   

Chief govt Thomas Buberl highlighted that revenues and underlying earnings rose in all geographies and enterprise strains group-wide.

“These wonderful outcomes replicate the collective efforts of all our colleagues, brokers, and companions,” mentioned Buberl, whose time period on the helm is about for renewal. “I wish to thank them for his or her relentless engagement, in addition to our shoppers for his or her continued belief.”

In a separate launch, AXA famous that the renewal of Buberl’s mandate as a four-year board member might be proposed to shareholders on the annual basic assembly in April subsequent 12 months.

Board of administrators chair Denis Duverne said: “Absolutely assured within the group’s future, the board of administrators has unanimously determined, as proposed by the compensation and governance committee chaired by Jean-Pierre Clamadieu, to verify Thomas Buberl’s renewal as chief govt officer. 

“The board counts on him to efficiently implement its strategic plan ‘Driving Progress 2023’, to grab development alternatives that may allow AXA to answer the evolving wants of shoppers and society, and to pursue the group’s transformation over the long term.”



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