Well-established in Western Europe, North American and Asia/Pacific markets, the Group intends to reinforce its growth in the years ahead by intensifying its presence in high-growth markets.


Total revenues were stable on a comparable basis, at Euro 98,549 million. The growth in the United States, International and at AXA IM was offset by lower revenues in Europe and Asia.

(in millions of Euro)

Net Income

Net Income was up 8% to Euro 6.2 billion, mainly driven by a strong increase in adjusted earnings and significantly lower restructuring costs, partly offset by a less favorable impact from exceptional and discontinued operations.

(in millions of Euro)

Underlying Earnings

Underlying Earnings increased by 7% to Euro 6.0 billion with growth in all geographies.

(in millions of Euro)

Solvency II ratio

Solvency II ratio was at 205%, up 8 points versus December 31, 2016, mainly driven by a strong operating return, partly offset by the dividend to be proposed by the Board of Directors, a net reduction in subordinated debt and the share buyback program.


Revenues by geographic region

Direct business revenues are split within geographies
Direct business revenues are split within geographies

Underlying earnings before tax by business segment

*FY15 figures are restated following the sale of the UK Life & Savings business

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