Axa Sa · EURONEXT:CS
Axa Sa — 9M 2026 Earnings Presentation
15 slides from Axa Sa's earnings presentation, Oct 30, 2026
Slide 1: 9M26 Activity indicators
Paris, October 29, 2026 (5:45pm CET) 9M26 Activity indicators 9M26 highlights • Gross written premiums & other revenues1 up +5% vs. 9M25 to Euro 93.0 billion ‒ Property & Casualty premiums up +3% to Euro 48.1 billion o Retail premiums up +7% with +4% from price effects and +3% from volumes o Commerc
Slide 2: 9M26 key highlights
KEY KEYHIGHLIGHTS HIGHLIGHTS 9M26 key highlights Key figures (in Euro billion, unless otherwise noted) Change on a Change on a 9M25 9M26 reported basis comparable basis 1 Gross written premiums and other revenues 89.4 93.0 +4% +5% of which Property & Casualty 46.2 48.1 +4% +3% of which Life & Health
Slide 3: Property & Casualty
LINES OFBUSINESS BUSINESS KEY HIGHLIGHTS LINES OF Property & Casualty Key figures (in Euro billion, unless otherwise noted) Change on a 9M26 Price effect 5 9M25 9M26 comparable basis (in %) Gross written premiums and other revenues 1 46.2 48.1 +3% +1.7%* of which Commercial lines 2 28.4 28.7 +1% +0.
Slide 4: Life & Health
KEY HIGHLIGHTS LINES OF BUSINESS Life & Health Key figures (in Euro billion, unless otherwise noted) Change on a comparable 9M25 9M25 Updated* 9M26 basis** 1 Gross written premiums and other revenues 42.3 44.8 +7% of which Life 27.8 29.3 +7% of which Health 14.5 15.5 +7% PVEP1,11 37.3 37.0 39.9 +8%
Slide 5: Ratings and Glossary
RATINGS RATINGS AND KEY GLOSSARY HIGHLIGHTS AND GLOSSARY Ratings Insurer financial strength ratings AXA's credit ratings 12 AXA's Date of last Senior debt of the Short-term debt of Agency AXA SA principal insurance Outlook review Company the Company subsidiaries S&P Global Ratings March 11, 2026 AA-
Slide 6: Scope and exchange rates
KEY HIGHLIGHTS SCOPE AND EXCHANGE RATES Scope France: includes insurance activities, banking activities and holding. Europe: includes Switzerland (insurance activities), Germany (insurance activities and holding), Belgium and Luxembourg (insurance activities and holding), United Kingdom and Ireland
Slide 7: Notes
KEY HIGHLIGHTS NOTES Notes 1 Changes in gross written premiums & other revenues, new business value (“NBV”), present value of expected premiums (“PVEP”), new business contractual service margin (“NB CSM”) and new business value margin (“NBV margin”) are on a comparable basis (constant forex, scope a
Slide 8: About the AXA Group
ABOUT THE ABOUT THE AXA AXA GROUP GROUP ABOUT THE AXA GROUP FOR MORE INFORMATION: The AXA Group is a worldwide leader in insurance, with 156,000 employees serving more than 92 Investor Relations: +33.1.40.75.48.42 million clients in 52 countries. In 2025, revenues amounted to Euro 115.5 billion and
Slide 9: Appendix 1: Gross written premiums & other revenues by geography and business line
APPENDIX APPENDIX 1: GROSS WRITTEN PREMIUMS & OTHER REVENUES BY GEOGRAPHY 1: EARNINGS AND BUSINESS LINE of which of which Gross Written Premiums & Other Revenues Property & Casualty Life & Health Change on a ii,iii Change on a Change on a Change on a in Euro million 9M25 Published 9M25 Adjusted 9M26
Slide 10: Appendix 2: Property & Casualty gross written premiums by business line and discount rates
APPENDIX 2: PROPERTY & CASUALTY – GROSS WRITTEN PREMIUMS & OTHER REVENUES BY BUSINESS LINEAPPENDIX 1: EARNINGS AND DISCOUNT RATES Commercial lines Personal lines AXA XL Reinsurance Total P&C Total i i Personal i i Total i i in Euro million Change Personal Motor Change Change Total Personal Change Ch
Slide 11: Appendix 3: Property & Casualty price effect by business line
APPENDIX 3: UNDERLYING APPENDIX EARNINGS 3: PROPERTY BY GEOGRAPHY & CASUALTY AND BY – PRICE EFFECT BY BUSINESS BUSINESS LINE LINE P&C: Price effect i by country and business line 9M26 (in %) Commercial lines Personal lines AXA XL Reinsurance France +3.5% +2.4% Europe +2.3% +4.7% Switzerland +3.6% +5
Slide 12: Appendix 4: Life & Health gross written premiums and growth by business line
APPENDIX 4: LIFE & HEALTH –4:GROSS APPENDIX WRITTEN PROPERTY PREMIUMS & CASUALTY & OTHER – REVENUE REVENUES AND&GROWTH CONTRIBUTION GROWTHBY BYBUSINESS BUSINESSLINE LINE Gross written premiums & of which of which of which of which Total i other revenues Protection G/A Savings Unit-Linked Health ii i
Slide 13: Appendix 5: PVEP, NB CSM, NBV and NBV margin
APPENDIX 4: PROPERTY & CASUALTY – REVENUE CONTRIBUTION APPENDIX & GROWTH 5: PVEP, NB CSM, NBV,BYand BUSINESS LINE NBV margin Life New Business Metrics 9M26 Health i New Business Metrics 9M26 Total i New Business Metrics 9M26 NB CSM NBV NBV NB CSM NBV NBV NB CSM NBV NBV in Euro million PVEP Change ii
Slide 14: Appendix 6: Life & Health net flows
APPENDIX 6: LIFE & HEALTH – NET FLOWS Net flows by business line in Euro billion 9M25 9M26 i Health +2.1 +2.6 Protection +4.3 +4.5 G/A Savings -1.9 -2.4 of which capital light ii +1.7 +1.6 of which traditional G/A -3.6 -4.0 iii Unit-Linked +1.2 +1.4 i Total Life & Health net flows +5.6 +6.0 i. Inclu
Slide 15: Appendix 7: Main transactions and next main investor events
APPENDIX 7: MAIN TRANSACTIONS AND NEXT MAIN INVESTOR EVENTS Main transactions in 2026: • Completed share buyback program of Euro 1.25 billion, pursuant to share repurchase agreement announced on February 27, 2026 • Announced the placement of Euro 750 million Tier 2 Notes (May 27, 2026) • Announced t