Report
Benoit Valleaux

AXA : Une perte importante attendue pour AXA XL avant le rebond prévu dès 2021

>Baisse attendue du RO de 31% en 2020 - AXA publiera son RN 2020 le 25 février prochain. Nous attendons des revenus de 96.3 Md€ en 2020 (-7.0%) légèrement inférieurs au consensus ; et un RO de 4 447 M€ (-31.1%), légèrement supérieur au consensus (4 367 M€, -32.3%), l’écart provenant essentiellement de nos prévisions de RO en Europe et en Asie (sans doute lié notamment à la baisse de la fréquence de sinistres en assurance automobile). Nous prévoyons une baisse du RO d...
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

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