AXA Summarizes a Year of Change and Success
AXA reported its 2017 results. CEO Thomas Buberl commented on the insurer’s performance:
– “Excellent year with excellent performance that is fully in line with our strategic goal of Ambition 2020”
– Stable global revenue – realized good performance in areas where they do want to grow
– +2% growth in commercial P&C business
– +6% growth in health insurance
– Operational performance have been increasing by 8% – led to record profit of $6B
– “AXA is very solid because also its solvency II ratio increased by 8 points” (now at 205%)
– “2017 has been a year of very important strategic choices” –
AXA (1) announced the IPO of its US business that will change completely its risk profile, (2) reaffirmed the strategic importance of its asset management business, and (3) started to simplify its organization significantly to be closer to the customer.
– “Launched innovation in many areas”; examples: (1) launched a teleconsultation service that is now serving 10M customers, and (2) acquired Maestro with the aim of helping customers find the best medical support at the best possible price.
– Going green – will no longer insure or fund production of coal
Did You Know? AXA is among the most diversified insurers in the world.
In sum, a year of change and a year of success, according to Buberl.