Axa Sa · EURONEXT:CS
Axa Sa — Investor Presentation (June 2023)
28 slides from Axa Sa's investor presentation, Jun 12, 2023
Slide 1: AXA Investor Roundtable
AXA Investor Roundtable June 12, 2023 GIE_AXA_Confidential
Slide 2: Important Legal Information and Cautionary Statements
IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS AND THE USE OF NON-GAAP FINANCIAL MEASURES Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, tr
Slide 3: AXA | Simple and distinct business model
AXA | Simple and distinct business model Global leader in Leading positions in Retail Commercial Lines insurance in Western Europe, In Focus Today insurance Japan, and Hong Kong Strong domestic market AXA #1 Global P&C Commercial AXA AXA positions Investment lines1 France Switzerland Across Western
Slide 4: Group Finance
1 Group Finance Alban de Mailly Nesle, Group CFO GIE_AXA_Confidential
Slide 5: Key topics
Key topics Underlying Cash and Capital Earnings Capital Management Outlook Strong cash and Confident outlook for Disciplined capital capital position 2023 under IFRS17/9 deployment 5| GIE_AXA_Confidential AXA Roundtable Series| June 12, 2023
Slide 6: Strong cash and capital position at Group level
Strong cash and capital position at Group level In Euro billion 5.5 ▶ Organic cash remittance on an upward trajectory1, 4.4 reflecting earnings growth and room to further improve Cash 2022 already within remittance ratio planned target of remittance €5-6bn p.a.1 ▶ Improved cash fungibility from inte
Slide 7: Confident underlying earnings outlook for 2023
Confident underlying earnings outlook for 2023 UEPS CAGR targets1 maintained under IFRS 17/9 In Euro billion 2022 2023 targets IFRS 4 IFRS 17/92 Key IFRS 17/9 drivers3 At least ▪ Improved technical result Property & Casualty 4.4 4.7 ▪ Lower financial result with higher unwind ▪ Predictable CSM relea
Slide 8: Committed to disciplined capital deployment
Committed to disciplined capital deployment 1 2 3 Dividend Share buy-back M&A Disciplined approach as reflected € 3.8 bn FY22 dividend paid € 1.1 bn executed in 2023 in the recent acquisition of Credit Mutuel España Additional share buy-backs Disposal of 18 non-core businesses +10% DPS1 growth in 20
Slide 9: AXA France
2 AXA France Patrick Cohen, CEO AXA France Guillaume Borie, Deputy CEO AXA France Bertrand Poupart-Lafarge, CFO AXA France GIE_AXA_Confidential
Slide 10: AXA France | Attractive French insurance market
AXA France | Attractive French insurance market France market size5 by line of business 2nd largest insurance market in Europe (GWP in Euro billion) High penetration rate (10% GDP) #1 Health & Protection market1 in Europe 256 271 234 Life Insurance - undisputed preferred saving product (38% of house
Slide 11: AXA France | Market leader with distinctive strengths, well positioned to grow
AXA France | Market leader with distinctive strengths, well positioned to grow AXA France business mix1 (AXA France FY22 gross revenues and FY21 market share 2) Unique multi-specialist model P&C (27%) Savings (33%) ▶ Profitability leader across all €28bn3 Protection & Health (39%) Largest & modern p
Slide 12: AXA France | Best-in-class technical results, while executing on our strategy
AXA France | Best-in-class technical results, while executing on our strategy P&C Health Savings 28.5% 3pts 65% of French P&C net profit1 below Market average CoR2 share of Unit-Linked and G/A at maturity on new business3 vs. 12% of GWP market share1 (Group + Individual) vs. 42% market With strategi
Slide 13: AXA France | Consistent and strong track record
AXA France | Consistent and strong track record Gross revenues1 Underlying earnings1 in Euro billion in Euro billion +4% +5% Acceleration in topline growth CAGR CAGR across technical lines combined 27.1 28.1 1.8 with excellent underwriting 24.8 1.6 1.6 1.7 23.7 23.8 1.5 performance support strong ca
Slide 14: AXA Switzerland
3 AXA Switzerland Fabrizio Petrillo, CEO AXA Switzerland Alain Zweibrucker, CFO AXA Switzerland GIE_AXA_Confidential
Slide 15: AXA Switzerland | Switzerland is a unique and attractive insurance market
AXA Switzerland | Switzerland is a unique and attractive insurance market Affluent and loyal customers 35.9 36.2 37.3 #3 GDP per Capita1 in the world >90% average retention rate in Personal Motor 21.7 22.1 22.8 High affinity to insurance products P&C, Health and Individual Life 7.3 7.1 7.4 market si
Slide 16: AXA Switzerland | Market leader with distinct capabilities
AXA Switzerland | Market leader with distinct capabilities AXA Switzerland business mix FY22 gross revenues and FY21 market share Top insurance brand in Switzerland P&C Commercial (32%) CHF P&C Personal (33%) ▶ Profitability leader across all 5.6 Individual Life (19%) billion preferred lines4 of bus
Slide 17: AXA Switzerland P&C | Strong profitability, well positioned for sustained delivery
AXA Switzerland P&C |Strong profitability, well positioned for sustained delivery Excellent All Year Combined ratio1 on average 83% 83% -3pts 82% vs market2 ▶ Disciplined underwriting across lines Commercial lines: market-leading position incl. strong SME capabilities 79% Personal Motor: sophisticat
Slide 18: AXA Switzerland L&H | Successful transformation of the Life business
AXA Switzerland L&H | Successful transformation of the Life business in CHF billion Group Life transformation from full-insurance to semi-autonomous model Shift from G/A Savings to Pure Protection model in 2018 Financial risks retained by foundations (CHF 31bn reserves), L&H Gross +5% CAGR1 ✓ Well p
Slide 19: AXA Switzerland | Strong and sustained track record
AXA Switzerland | Strong and sustained track record Gross revenues1,2 Underlying earnings1 in CHF billion in CHF million +3% +6% CAGR CAGR Consistent and focused top line 5.4 5.6 1,053 growth with excellent technical 5.0 5.0 947 888 885 performance supporting strong 3.6 3.6 cash upstream 3.5 3.5 1.5
Slide 20: AXA Investment Managers
4 AXA Investment Managers Marco Morelli, AXA IM Executive Chairman Isabelle Scemama, Global Head AXA IM Alts Hans Stoter, Global Head AXA IM Core GIE_AXA_Confidential
Slide 21: AXA IM | A scaled player with distinct capabilities
AXA IM | A scaled player with distinct capabilities AXA IM Core AXA IM Core AXA IM Architas Traditional core assets covering Fixed Income, Equities and Multi-Assets €482bn Liquid €29bn focused on long-term and responsible investment AXA IM Alts €845bn Indirect Global leader in Alternative investment
Slide 22: AXA IM Alts | The largest European alternatives investment manager
AXA IM Alts | The largest European alternatives investment manager Well positioned in an attractive market AXA IM Alts distinctive strengths ca. 11% CAGR Real Estate 18.3 16.2 14.6 6.4 7.6 9.3 10.8 11.8 13.2 Alternative Credit €198bn 4.3 4.8 5.5 Assets under Management 3.2 3.7 3.8 4.1 Infrastructure
Slide 23: AXA IM Alts | Distinctive franchise in Real Estate
AXA IM Alts | Distinctive franchise in Real Estate Unique investment skills… … delivering superior returns Expertise to identify highest potential investments Dolphin Square: Creating a sustainable living environment ✓ 30+ years track record ✓ 360° market view across the capital stack, in private an
Slide 24: AXA IM Core | Leveraging investment expertise to deliver client solutions
AXA IM Core | Leveraging investment expertise to deliver client solutions An institutional Fixed Income A global leader in responsible powerhouse investing Strong track record, with €+8bn 78%1 Early mover on ESG strategies continued net inflows in risk-off 2022 Net New Money funds classified2 from t
Slide 25: AXA IM | Investing to drive future growth
AXA IM | Investing to drive future growth Responsible Innovative Alternatives Wealth Investment Solutions Capabilities Management Continued roll-out of ESG New investment vehicle Scaling up AXA IM Prime Private Wealth solutions strategies, further solutions through the leveraging expertise embedding
Slide 26: AXA IM | Strong track record
AXA IM | Strong track record Assets under Management Third-Party Net New Money Underlying Earnings in Euro billion in Euro billion In Euro million +2% +5% CAGR CAGR 880 910 19 18 402 400 826 845 753 15 334 318 313 5 5 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 #5 asse
Slide 27: Thank you
Thank you GIE_AXA_Confidential
Slide 28: Scope and Glossary
Scope and Glossary Scope ▪ France: includes insurance activities, banking activities and holding in France. ▪ Europe: includes Switzerland (insurance activities), Germany (insurance activities and holding), Belgium (insurance activities and holding), Luxembourg (insurance activities and holding), Un