AXA Announces 9M Sales for 2022

Broken down by business segment, AXA’s results for the period were as follows:








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9M22 Earnings

9M21 Earnings

General Insurance (P&C)

40.7 billion euros

€38.5 billion

health

€13.1 billion

€11.5 billion

life and savings

€23.2 billion

24.5 billion euros

asset management

1.2 billion euros

1.1 billion euros

At P&C, both commercial and personal line revenue increased over the nine months. In the life insurance business, which posted a decrease in revenue, insurance revenue increased. Unit-linked and general account (G/A) savings are down from a year ago. Health contributed to an increase in sales for both group business and individual business.

Geographically, AXA reports improved earnings in France (home market), Europe and Asia. International revenues declined. On the other hand, both AXA XL and Transversal increased. Transversal is part of a group that includes AXA Assistance and AXA Liabilities Managers.

Commenting on this figure, Chief Financial Officer Alban de Mailly Nesle said: Our earnings mix continues to be of high quality, with a focus on expanding our technology areas while reducing our exposure to natural catastrophe reinsurance and traditional his G/A savings.

“Commercial insurance revenues in Health and P&C continued to be strong, up 14% and 6% respectively. P&C personal lines showed clear signs of improvement in the pricing environment. We expect the actions we have taken to offset the impact of inflation in property and casualty insurance this year to maintain strong underlying technical profitability across the Group.”

Meanwhile, Monument Re said in a separate release that its Belgian subsidiary has completed the acquisition of the run-off life insurance portfolio from AXA Belgium.

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