1Q19 Activity indicators: Strong and disciplined growth
- Total gross revenues up 3% to Euro 35.0 billion
- P&C Commercial lines revenues up 6% to Euro 11.4 billion
- Health revenues up 6% to Euro 3.8 billion
- Protection APE up 5% to Euro 0.7 billion
AXA delivered another strong performance in the first quarter of 2019. Our topline grew overall across the Group, and particularly strongly in each of our three preferred segments: Health, Protection and P&C Commercial lines. AXA XL had a strong quarter of selective growth, growing in P&C Insurance and Specialty lines while maintaining underwriting discipline in Reinsurance. The pricing environment improved further over the quarter and we see good momentum building across most lines of AXA XL’s business.
“Our transformation journey continued in the first quarter, with the successful placement of another tranche of EQH shares in March, leading to the deconsolidation of EQH. Our business profile is becoming increasingly simpler, clearer and more focused.
Our balance sheet remains strong with a Solvency II ratio at 190%, well within our guidance. Our AA- rating now has a stable outlook across all rating agencies.
We have made significant progress towards our ambitions again this quarter. I am grateful to all our colleagues and partners for their strong support and passion, and would like to thank our clients for their continued trust”, said Gérald Harlin, Deputy CEO and Group CFO of AXA.