Axa Sa Ord (AXAHF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for standing by. Welcome to the AXA First Quarter twenty twenty six Activity Indicators Call. At this time, all participants are in a listen only mode. After the Please note that today's conference is being recorded. I would now like to hand the conference over to your speaker, Anu Venkataraman. Please go ahead. Good morning, and welcome to AXA's First Quarter twenty twenty six Activity Indicators Call. Our Group CFO, Arbonne de Maineau, will walk you through the highlights, after which we'll be happy to take your questions. Arbonne? Thank you, Anou. Good morning to all. Thank you for joining the call today. So let me start with the key highlights. As you saw, we delivered a strong performance in the first quarter of twenty twenty six. Total revenues increased by 6% to €38,000,000,000 well balanced across lines of business and geographies. And our Solvency II ratio at 211% reflects the robustness of our balance sheet after the end of the grandfathering period of January 1. In the quarter, the Group's financial strength was further affirmed by the decision from S and P to upgrade its ratings from AA- to AA. Let me now go through each line of business, highlighting what we expect for the year, starting with P and C. P and C revenues were up 4% with a healthy balance of volume growth and pricing in both Commercial and Personal Lines. In Personal Lines, revenues were up 7%, reflecting continued strong momentum across all geographies. We have delivered strong volume growth from expanding the customer base with 1,200,000 net new contracts in retail motor and household, particularly in France and Europe, in a favorable pricing environment with a 4% price effect over the period. And we expect pricing to remain conducive and continue to see good opp...