The AXA Group reveals an increase in its gross sales in the first nine months of 2019

“AXA achieved another solid operational performance in the first nine months of 2019,” said Gérald

Harlin, Deputy CEO and CFO of the AXA Group. “AXA’s sales grew by 5% overall, in particular with the continued strong growth momentum in P&C and Healthcare, and all of AXA’s geographic areas contributed to this strong growth.

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Harlin also said that AXA XL has achieved significant increases in revenues, particularly in P&C and specialty insurance.

“The favorable pricing environment for insurance continues to improve, with Q3 renewals seeing significant rate increases,” said Harlin. “Given a series of severe natural catastrophes, including Hurricane Dorian and Typhoons Faxai and Hagibis, AXA XL recorded an above-average loss level for natural catastrophes in the third quarter and at the start of the fourth quarter, mainly due to reinsurance. “

At the same time, the Group’s Solvency II ratio fell by three points to 187%, mainly due to unfavorable financial market conditions due to the fall in interest rates.

“AXA’s Solvency II ratio was 187%, well within its target range, demonstrating the strength and resilience of the Group’s balance sheet, even in a context of very low interest rates at the end of September,” said Harlin.