the solvency ratio fell slightly

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(Boursier.com) — Over 9 months, the total turnover ofAxa is up by 2% to 78.4 billion euros (76 billion euros over the first 9 months of 2021), driven by:
– business damage insurance premium income up 6% to 24.4 billion euros
– personal-lines damage insurance premium income up 4%, at 13.3 billion euros
– turnover in health insurance up 14%, to 13.1 billion euros.

The Solvency II ratio stood at 225% as of September 30, 2022, down 2 points compared to June 30.

“Axa again delivered an excellent performance in the first 9 months of 2022 in a challenging environment. Our business mix continues to be high quality, focused on growing our underwriting lines and reducing our exposure to natural disasters in reinsurance and traditional savings products” declared Alban de Mailly Nesle, Chief Financial Officer of Axa, who continued: “The Group is well positioned in the current macroeconomic context thanks to the solidity of its balance sheet, with a Solvency II ratio of 225% and a very good quality investment portfolio which has benefited from a prudent allocation over the years We remain convinced of the relevance of our strategy, focused on the development of our in our core markets, thanks in particular to targeted acquisitions such as the one recently announced in Spain”.


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