AXA stock holds outlook as nine-month premiums rise

AXA reported stronger insurance activity through the first nine months of 2026 and maintained its full-year earnings outlook. In its October 29 press release, the insurer said gross written premiums and other revenues increased 5% on a comparable basis to 93.0 billion euros.

Premium Growth Remains Broad-Based

Property and casualty premiums rose 3% to 48.1 billion euros. Retail premiums increased 7%, supported by a 4% price contribution and 3% volume growth. Commercial premiums gained 1%, although AXA XL Insurance declined 1% as the specialty business continued to manage capacity in a softer market.

Life and health premiums advanced 7% to 44.8 billion euros, with both businesses delivering the same rate of growth. AXA also reported net flows of 6.0 billion euros in life and health savings, while new business contractual service margin increased 1%.

Guidance Meets Natural Catastrophe Risk

AXA reaffirmed its expectation of underlying earnings of about 8.6 billion euros for 2026. It continues to target underlying earnings-per-share growth at the upper end of its 6% to 8% plan range and underlying return on equity at the upper end of its 14% to 16% range.

The outlook carries a clear condition: AXA assumes no significant deterioration in natural catastrophe charges, pricing or market conditions. Management said catastrophe activity in Europe was elevated during the third quarter, while the group maintained a Solvency II ratio of 213% at September 30, five points below the June level.

For investors, the update presents a mixed operating picture. Personal insurance and life and health are providing visible growth, while AXA XL is prioritising underwriting discipline over volume in softer commercial and reinsurance markets. The balance between premium expansion, claims inflation and capital resilience is likely to remain central to the share story.

AXA stock traded at 42.47 euros on Lang & Schwarz at 15:09 CET on Monday, October 26, 2026; the real-time quote of AXA stock is available here.

Broader market direction is covered in current market reports.

More news and analyses on AXA stock provide further context for the insurer's operating outlook.