Report
Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

AXA : Business model resilience in H1

>Continuing growth in profitable business lines - AXA is due to publish its H1 2022 results on 3 August before trading. We anticipate revenues of € 54.7bn, up 1.5%, close to the consensus. We expect a drop in premiums of 2.7% in life insurance vs a high comparison base for H1 2021 (with strong sales in Japan notably) and amid declining life insurance sales in Italy. We anticipate a weaker new business margin of 41.6% (-5.2 points), but the level remains high and refle...
Underlying
AXA
AXA

AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Benoit Valleaux

Roland Pfaender,MBA,CFA,CCRA

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