Axa closes 2023 with a net profit up 42% to 7.19 billion euros.
The underlying profit beats estimates and stands at 7.60 billion euros, up 25% compared to the previous year.
The French insurance company will distribute a dividend of 1.98 euros and will launch a share buyback of up to 1.6 billion euros.
Revenues rose by 0.9% to 102.74 billion euros.
Life and health revenues were 48.06 billion (-2.9%), those from asset management 1.56 billion (-2%).
Solvency II stands at 227%.
Combined damage and injury ratio 93.2%.
AXA achieved "excellent results in 2023, which reflect the continued execution of its strategy", says CEO Thomas Buberl.
“This – he adds – also marks the completion of our Driving Progress 2023 plan. The group has successfully achieved all its main financial objectives, with underlying earnings per share growth of 9%, cumulative liquidity of 16.4 billion euros and a return on equity of 14.9%, while maintaining a strong Solvency II10 at 227%."
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