1Q18 Activity indicators: Continued focus on preferred segments
- Total Gross revenues up 2% to Euro 30.8 billion
- APE up 5% to Euro 1.8 billion, with NBV up 5% to Euro 0.8 billion
- Health revenues up 7% to Euro 3.5 billion
- Protection APE up 9% to Euro 0.6 billion
- P&C commercial lines revenues up 2% to Euro 6.3 billion
- Solvency II ratio up 16 points to 221% from FY17
AXA has delivered a strong operating performance in the first quarter of 2018. We are growing our topline, with a continued focus on profitability and shift towards preferred segments, in line with our Ambition 2020.
AXA’s French operations recorded an excellent performance in the first quarter, notably with a very strong growth in Health, Savings and Protection. We also continued to grow our topline, as well as further improve our business mix, in Europe and in Asia. Growth in Health revenues remained a highlight, further reinforcing our global leadership position in this preferred and organically growing segment.
Our Solvency II ratio stood at 221%, up 16 points from FY17, demonstrating once again the underlying strength and flexibility of our balance sheet.
We are resolutely focused on reshaping AXA’s profile towards our preferred segments, both through our new business mix, and of course through the strategic decisions to list our US operations and acquire the XL Group. We also continue to reshape our inforce operations, the transformation of our group life business in Switzerland being a very successful achievement. I would like to thank all our colleagues and partners for their relentless efforts towards this objective, together with our customers and shareholders, for their continued trust and support.