AXA's 2019 revenue up 5% YoY at €103.5B

Thursday, 20. February 2020 07:03

French insurance firm AXA S.A. reported on Thursday its revenue in fiscal 2019 rose 5% year-over-year to stand at €103.5 billion, with growth being recorded across all business sectors and geographies.

Underlying earnings increased 2% on an annual basis to €6.5 billion, which translated to €2.59 per share. Net income jumped 80% compared to the prior year, amounting to €3.9 billion. Solvency II ratio grew 5 percentage points to 198%, while adjusted return on equity rose 1.6 to 16% in the same period.

“The Group achieved a significant milestone in 2019 in its strategy to shift its profile away from financial markets and towards technical risk, by fully exiting the US Life & Savings market and integrating the XL Group, and at the same time reducing its debt gearing ratio. At AXA XL, impacted again by adverse claims experience in 2019, we are recording strong price increases and taking further steps to reduce volatility," chief executive Thomas Buberl said in the press release.

The company announced a dividend of €1.43 per share, up 7% YoY.

Related Links: AXA S.A.
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