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