AXA unveils its results for the first quarter of 2018

To march 31, 2018, AXA has realized a turnover of 30.8 billion euros

Like other players in the French insurance, AXA has recently unveiled its financial results for the first quarter of 2018. During this period, the insurance group has seen its turnover (CA) back in the published data. However, it appears to increase the a comparable basis versus the first quarter of 2017. Spotlight.

An increase in turnover in France

In the first quarter of 2018, the turnover achieved by the AXA group has represented 30.8 billion euros, which corresponds to a decline of 2.7 % in the encrypted data because of the appreciation of the euro, but an increase of 2 % on a comparable basis compared to the figures disclosed last year for the same period.

This result recorded by the insurer during the first three months of 2018 is mainly driven by the strong growth of its activities in france where his CA has increased by 8% to reach 7 billion euros of outstanding performance in life insurance, health, savings and retirement. Also of note is the decrease estimated to be 1 % of the damage in France.

+9 % for the volume of new business

The figures disclosed for the first quarter of 2018 also appear rich in the following lessons :

  • The margin on new business of the AXA group remains stable at 41.8 percent,
  • The volume of new business jumped 9 % to a pension representing € 0.6 billion,
  • The activity of insurance companies in damage has increased by 2 % to € 6.3 billion.

Note also the increase of 16 points in the Solvency ratio 2 of the international insurance group which is fixed now at 221 %. Chief financial officer of the AXA group, Gérald Harlin considers that this performance finds its explanation in the issue of 2 billion euros of subordinated debt needed for the buyout of XL Group, the insurer and the reinsurer located in Bermuda, for $ 15.3 billion dollars (about 12.8 billion euros).

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