Trade Now

Capital at risk Advertisement
Share Name Share Symbol Market Type
Axa EU:CS Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.13 0.55% 23.645 23.645 23.65 23.84 23.38 23.79 1,619,883 11:44:14

AXA Launches $2 Billion Share Buyback as It Posts Higher Nine-Month Revenues

04/11/2021 5:20pm

Dow Jones News

Axa (EU:CS)
Historical Stock Chart

From Sep 2021 to Sep 2022

Click Here for more Axa Charts.

By Ed Frankl


AXA SA said Thursday that it will be launching a share buyback program worth 1.7 billion euros ($1.97 billion), as it posted increased nine-month revenues.

The French insurer said the buyback will be launched on or around Nov. 8 and be complete by the end of April 2022, with the company canceling all repurchased shares.

The company added that it intends to launch a further buyback in 2022 for up to EUR500 million to neutralize earnings dilution from disposals after Dec. 1, 2020.

AXA also announced that its nine-month activity indicators, with total gross revenue of EUR75.97 billion in the January to September period, compared with EUR73.39 billion last year, driven by its French business.

The top-line figure is a rise of 4% year-on-year on a reported basis, or 7% like-for-like.

All business lines and geographies contributed to the growth, AXA's Chief Financial Officer Alban de Mailly Nesle said in a statement.

Gross revenues at its property and casualty business grew 5% like-for-like, while in life and savings, it grew by 12%, notably on individual savings products in France, AXA said.

At the company's U.S. subsidiary AXA XL, gross revenues rose 6% on a comparable basis. The company said Hurricane Ida losses in the summer were estimated at around EUR400 million.

The company's closely watched Solvency II ratio was 214% at Sept. 30, up 2 percentage points from the end of the second quarter.


Write to Ed Frankl at


(END) Dow Jones Newswires

November 04, 2021 13:05 ET (17:05 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Axa Chart

1 Year Axa Chart

1 Month Axa Chart

1 Month Axa Chart
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220927 10:59:14