Retail premiums went up 7% with +4% from price effect and +3% from volumes. Commercial premiums grew 3% with equal contributions from price effect and volumes. Life & Health premiums increased by 8% to EUR 16.5 billion. Life premiums went up 8%. Health premiums expanded 8%. Life & Health NB CSM went up 4% and net flows reached EUR 2.7 billion.
Solvency II ratio stood at 211% as of March 31, 2026, down 4 points vs January 1, 2026 (post-grandfathering period) reflecting resilience in a volatile environment.
According to the press release, AXA is on track to achieve underlying earnings per share growth for 2026 at the upper end of the 6-8% plan target range. AXA plans to present its new strategic plan for 2027-2029 on September 15, 2026.
“AXA delivered a strong start to the year, with topline growth across all business lines, fully aligned with our organic growth strategy”, said Alban de Mailly Nesle, Group Chief Financial Officer. “This performance underscores the continued robust expansion of our P&C businesses in both Retail and Commercial, with growth well balanced between pricing and volumes, while Life & Health revenues reflect the continuation of last year’s strong momentum”, the Group CFO added.
“In the context of a volatile macro environment, we operate from a position of strength, supported by a robust balance sheet, a Solvency II ratio of 211% and a high-quality investment portfolio. This gives us strong resilience and flexibility. We remain confident in our ability to deliver underlying earnings per share growth for 2026 at the top end of our target range and to sustain growth beyond the current plan”, Alban de Mailly Nesle explained.
12149 views
