AXA, the French insurer, has announced that it experienced a slight increase in gross written premiums and other revenue for the first nine months of the year. This growth was primarily driven by the property and casualty business. The company is confident in meeting its full-year earnings target.
Revenue Performance
During this period, AXA’s gross written premiums and other revenue reached €78.76 billion ($83.25 billion). This represents a 1% increase compared to the previous year’s €78.02 billion. On a comparable basis, the growth was 2%.
Specifically, AXA’s property and casualty business saw a significant boost in revenue, with a 5% increase. However, the life-and-health and asset-management segments experienced a decline of 3%.
Outlook and Challenges
Despite the positive growth, AXA acknowledges potential headwinds affecting its performance. The company expects challenges from higher health claims frequency in the U.K., elevated lapses in Italy, and natural catastrophe activity in the third quarter. Nevertheless, AXA remains confident in achieving its underlying earnings target of more than €7.5 billion for the year.
Financial Stability
AXA maintains a stable financial position, with total debt expected to remain relatively unchanged compared to the previous year.
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