AXA stock: 9M premiums rise 5%, 2026 target reaffirmed

AXA reported stronger insurance activity for the first nine months of 2026 while keeping its full-year targets unchanged. The update, published by AXA on October 29 and analyzed by Ideal Investor, points to continued operating growth but also higher catastrophe pressure.

AXA stock traded at 43.90 euros on Xetra at 10:36 CET on Wednesday, November 4, 2026, 2.07 percent above the Xetra close of Tuesday, November 3. The quote was supported by a broader update that combined rising premiums with a lower solvency ratio.

Insurance Growth Remains Broad Based

Gross written premiums and other revenues reached 93.0 billion euros, up 4 percent on a reported basis and 5 percent on a like-for-like basis. The comparison excludes changes in exchange rates, scope and methodology, making the like-for-like figure the clearer measure of underlying activity.

Property and casualty premiums rose 3 percent to 48.1 billion euros. Retail contracts increased 7 percent to 17.2 billion euros, helped by a 4-point price effect and a 3-point volume contribution. Commercial contracts advanced 1 percent to 28.7 billion euros, while AXA XL reinsurance premiums fell 9 percent to 2.2 billion euros as the market softened.

Life and health premiums climbed 7 percent to 44.8 billion euros. Life reached 29.3 billion euros and health 15.5 billion euros. Net inflows increased to 6.0 billion euros from 5.6 billion euros a year earlier, while the present value of new business rose 8 percent to 39.9 billion euros.

Targets Hold As Solvency Eases

AXA reaffirmed an operating result of approximately 8.6 billion euros for 2026, compared with 8.4 billion euros in 2025. The group also expects underlying earnings per share growth at the upper end of its 6 to 8 percent target range and operating return on equity at the upper end of the 14 to 16 percent range.

The main counterweight was capital strength. The Solvency II ratio fell to 213 percent at September 30 from 218 percent at June 30. According to the cited analysis, market movements accounted for a 5-point drag, while elevated natural catastrophe claims affected the third-quarter picture, particularly in France, Switzerland and Italy.

Management said current trends leave AXA positioned to begin its next strategic plan, named Growing Forward, for 2027 to 2029. The outlook nevertheless depends on conditions including natural catastrophes, pricing and financial markets.

Investors can follow the real-time quote of AXA stock for the latest trading level.

The CAC 40 provides the relevant market backdrop for the Paris-listed insurer.

AXA is scheduled to publish its full-year 2026 results on February 25, 2027. More news and analyses on AXA stock will track the results and the transition to the Growing Forward plan.