AXA shares its revenue for the 1st quarter of 2022

Here is how AXA’s activities are distributed, in terms of income:









Segment

Q1 2022 gross revenue

Q1 2021 gross revenue

Property and Casualty (P&C)

18 billion euros

€17.4 billion

Health

€4.4 billion

4.2 billion euros

Life and savings

8.4 billion euros

€8.6 billion

Asset Management

€0.4 billion

€0.4 billion

Total

€31.3 billion

€30.7 billion

Of Property & Casualty revenues, 12.2 billion euros come from business insurance; the remaining 5.8 billion euros come from personal insurance. Both units posted increases.

The insurance group’s Solvency II ratio in the quarter meanwhile came in at 224%, an improvement from 217% for the whole of 2021.

The CFO said: “AXA performed well in the first quarter of 2022, delivering high-quality revenue growth. We continue to deliver strong performance in our technical and fee-based businesses across the group. Our mix is ​​excellent, with revenues in health up by 6%, in unit-linked by 5% and in commercial property and casualty insurance by 4%, with still favorable pricing dynamics in all geographic areas and in particular at AXA XL.

Citing AXA’s strong balance sheet, de Mailly Nesle said the Paris-based group is well positioned in the current uncertain macroeconomic environment.

“Our strategic transformation to move away from financial risk proves particularly relevant in this environment,” he noted. “We remain confident in our ability to execute our strategy, focusing on our key attractive segments, in particular health, protection and property and casualty insurance, where the need for insurance coverage remains strong.”

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