AXA Group full year 2025 earnings press release/Appendices
Section 1: GWP by geography and business line
| Geography (Euro million) | FY24 | FY25 | Reported chg | Comparable chg | P&C FY25 | L&H FY25 | P&C chg | L&H chg |
|---|---|---|---|---|---|---|---|---|
| France (incl. banking) | 28,996 | 30,598 | +6% | +6% | 9,648 | 20,852 | +7% | +5% |
| Europe | 39,298 | 43,005 | +9% | +6% | 21,257 | 21,748 | +4% | +8% |
| AXA XL | 19,383 | 19,277 | -1% | +4% | 19,159 | 118 | +4% | -8% |
| Asia, Africa & EME-LATAM | 19,083 | 19,925 | +4% | +13% | 6,257 | 13,668 | +13% | +13% |
| Transversal | 1,856 | 1,844 | -1% | -1% | 1,718 | 126 | -1% | -8% |
| AXA Investment Managers | 1,701 | 875 | -49% | +4% | — | — | — | — |
| Total | 110,316 | 115,524 | +5% | +6% | 58,038 | 56,512 | +5% | +8% |
Note: Including banking revenues amounting to Euro 99 million in FY25 and Euro 118 million in FY24. AXA Investment Managers: Asset Management revenue was Euro 875 million in FY25 (+4% comparable).
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Section 2: Underlying earnings by geography and business line
| Geography (Euro million) | FY24 | FY25 | Chg (cst Fx) | P&C FY25 | P&C chg | L&H FY25 | L&H chg | AM FY25 |
|---|---|---|---|---|---|---|---|---|
| France | 2,071 | 2,224 | +7% | 1,237 | +7% | 1,039 | +8% | — |
| Europe | 3,187 | 3,486 | +9% | 2,216 | +9% | 1,264 | +14% | — |
| AXA XL | 1,820 | 1,893 | +9% | 1,913 | +9% | 12 | -49% | — |
| Asia, Africa & EME-LATAM | 1,504 | 1,493 | +6% | 355 | +24% | 1,165 | 0% | — |
| Transversal | -907 | -903 | 0% | 151 | -4% | 22 | +16% | — |
| AXA Investment Managers | 402 | 175 | -57% | — | — | — | — | 175 |
| Total | 8,078 | 8,368 | +6% | 5,872 | +9% | 3,501 | +7% | 175 |
Note: Including underlying earnings of Holdings and Banking. Changes are at constant Forex.