AXA SA First‑Quarter 2026 Results
1. Revenue Performance
- Gross written premiums and other revenues for the three months ended 31 March 2026 amounted to €38.0 billion, representing a 3 % year‑over‑year increase from €37.0 billion reported in the same period a year earlier.
- On a comparable‑basis the growth was 6 %, reflecting consistent performance across all business lines.
2. Segment Contributions
| Segment | Premiums 2026 Q1 | Premiums 2025 Q1 | % Change |
|---|---|---|---|
| Property & Casualty (P&C) | €21.5 billion | €21.0 billion | +2 % |
| Life & Health | €16.5 billion | €15.5 billion | +7 % |
- Property & Casualty growth was driven by increased volumes and pricing in both retail and commercial lines.
- Life & Health growth stemmed from robust sales in unit‑linked and savings products and favourable pricing in health insurance.
3. Solvency Position
- The Solvency II ratio at the end of March 2026 stood at 211 %, slightly below the 215 % recorded at the beginning of the year.
4. Guidance
- AXA confirmed that it remains on track to deliver underlying earnings per share (EPS) growth at the upper end of the 6 %–8 % target range for 2026.
5. Management Commentary
- Chief Financial Officer Alban de Mailly Nesle stated:“AXA delivered a strong start to the year, with topline growth across all business lines, fully aligned with our organic growth strategy.” “This performance underscores the continued robust expansion of our P&C businesses in both Retail and Commercial, with growth well balanced between pricing and volumes, while Life & Health revenues reflect the continuation of last year’s strong momentum.”
6. Market Context
- The company trades on the NYSE Euronext Paris under the ticker CS.PA (also listed as AXAHY.PK and AXA.DE).
- As of 3 May 2026, the closing price was €40.07.
- The 52‑week high and low were €43.61 and €36.55 respectively.
- Market capitalization stands at €83.3 billion with a price‑earnings ratio of 11.96.
These figures provide a comprehensive view of AXA SA’s first‑quarter performance and its outlook for the remainder of 2026, highlighting solid revenue growth, stable segment contributions, and a continued focus on meeting earnings targets.
