By Le Figaro with AFP
Published
This content is not accessible.
The French insurer Axa published on Thursday an almost stable turnover (+2%) in 2022, at 102.3 billion euros, but a net profit down 8%, at 6.68 billion euros, burdened by the loss value of certain assets. “Axa achieved a very good performance in 2022 despite a difficult economic environment, proof of the resilience of our model“, greeted the director general Thomas Buberl, quoted in a press release.
” READ ALSO – Axa to attack Crédit Mutuel’s insurance activities in Spain for 310 million euros
In 2021, the group had generated 7.29 billion euros in net profit, for a turnover of 99.9 billion euros. It is almost on a par last year with its European competitor Allianz, which published a net profit of 6.74 billion euros on February 17, but Axa disappoints analysts, who expected a profit of more than 7 billion euros. euros. If activity holds up, the rise in interest ratescaused a number of bond assets to see their value reduced and this change was taken to net income“, said the financial director, Alban de Mailly Nesle, during a telephone press briefing. A capital loss amounting to nearly 500 million euros.
This content is not accessible.
In detail, the group’s activity was driven by the good performance of property and casualty insurance, particularly in automobile. This division posted sales up 2% to 51.6 billion euros. The health branch saw its turnover increase by 16%, to 17.4 billion euros, driven in particular by contracts in France but also in the United Kingdom and Ireland, when the life insurance branch saw its own. down 5% to 31.5 billion euros, reduced by the fall in sales of the euro fund. It also suffers from the comparison with an exceptional year 2021 for units of account, specifies Axa.
” READ ALSO – Life insurance, should we be seduced by promotional offers?
Axa will redistribute a substantial part of its net profit to its shareholders. The proposed dividend is 1.70 euros per share (+10%), or 3.9 billion euros in total. In addition, there is a share buyback program for a maximum amount of 1.1 billion euros.