Axa Sa Ord (AXAHF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.377 Good morning, and thank you for joining AXA's nine-month 2025 Activity Indicators 00:00:05.377 -- 00:00:10.403 Call. Our Group CFO, Albon de Mainel, will walk through the highlights from the 00:00:10.403 -- 00:00:14.748 press release that we published last night, after which we'll be ready to take your questions. 00:00:14.748 -- 00:00:17.191 With that, I turn it over to Albon. 00:00:17.191 -- 00:00:19.754 Thank you, Anou, and good morning to all of you. 00:00:19.754 -- 00:00:25.381 Thank you for joining the call today. So let me start with the key highlights 00:00:25.381 -- 00:00:31.610 on nine months 25. Overall, we delivered a solid performance 00:00:31.610 -- 00:00:35.414 with total revenues increasing by 7% to 89 00:00:35.414 -- 00:00:37.276 billion euros. 00:00:37.276 -- 00:00:43.383 This reflects the strength of our franchise, which, as you know, is well diversified 00:00:43.383 -- 00:00:48.409 by line of business with 60% in P&C and 40% in life 00:00:48.409 -- 00:00:53.947 and health. And it's also balanced between B2B and B2C. 00:00:53.947 -- 00:00:59.935 All our geographies are delivering a consistent execution of our organic growth strategy, 00:00:59.935 -- 00:01:03.640 which is one of the key levers of our current plan. 00:01:03.640 -- 00:01:08.706 We continue to operate at a high level of capital with a sovereign city ratio at 222%. 00:01:08.706 -- 00:01:10.929 In the 00:01:10.929 -- 00:01:16.076 quarter, the group's financial strength was further affirmed by the decision 00:01:16.076 -- 00:01:21.961 from Moody's to upgrade its rating from AA3 to AA2. 00:01:22.145 -- 00:01:26.949 So let me now go through the key numbers of the release and I start with P&C. 00:01:26.949 -- 00:01:31.973 P&C revenues were up 5% to 46 billi...