French insurer AXA recorded a 6% year-on-year improve in gross written premiums and different revenues to €37.95bn within the first quarter of 2026 (Q1 2026), supported by progress throughout its property and casualty (P&C) and life and well being (L&H) companies.
For the three months ended 31 March 2026, P&C premiums rose by 4% to €21.46bn.
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Retail premiums elevated by 7%, pushed by a 4% pricing impact and a 3% rise in volumes, whereas industrial premiums grew 3%, with pricing and quantity contributing equally to the rise.
Throughout the division, private traces premiums climbed 7% to €7bn, supported by greater pricing and enterprise volumes throughout Europe, France, and Asia, Africa and Europe, the Center East and Latin America.
Premiums at AXA XL Reinsurance fell by 7% to €1.24bn because the group maintained underwriting self-discipline amid softer market circumstances.
L&H premiums elevated by 8% to €16.46bn throughout the quarter. Life premiums rose by 8%, whereas well being premiums additionally recorded 8% progress.
Unit-linked gross sales superior 16%, whereas common account financial savings premiums have been up by 9% and safety premiums elevated by 4%.
L&H new enterprise contractual service margin (NB CSM) rose by 4% to €600m.
Internet flows improved to €2.7bn from €2.5bn in the identical quarter a yr earlier.
AXA mentioned its Solvency II ratio stood at 211% on the finish of March 2026, down 4 factors from 1 January 2026.
The insurer attributed the decline to monetary market volatility together with greater inflation expectations and elevated fairness and rate of interest volatility, partly offset by sturdy working returns.
The Solvency II ratio is the first measure of an insurer’s monetary power underneath EU rules and displays the connection between obtainable capital and the capital required to stay solvent.
AXA mentioned it stays on observe to ship underlying earnings per share (EPS) progress for 2026 on the higher finish of its 6–8% goal vary.
The corporate additionally plans to current its 2027–29 strategic plan on 15 September 2026.
AXA chief monetary officer Alban de Mailly Nesle mentioned: “AXA delivered a robust begin to the yr, with topline progress throughout all enterprise traces, totally aligned with our natural progress technique.
“This efficiency underscores the continued strong enlargement of our P&C companies in each Retail and Industrial, with progress properly balanced between pricing and volumes, whereas Life & Well being revenues mirror the continuation of final yr’s sturdy momentum.
“Within the context of a risky macro atmosphere, we function from a place of power, supported by a sturdy steadiness sheet, a Solvency II ratio of 211% and a high-quality funding portfolio.”
