’These results demonstrate the earnings power of our well-diversified franchise and reinforce our confidence in Axa’s ability to generate sustainable, long‑term value,’ says chief executive
Axa has revealed it secured a gross written premium (GWP) of €116bn (£101.2bn) in 2025.
The figure, which was published by the insurer in a trading update today (26 February 2026), was 6% higher than what it achieved in 2024.
Its underlying earnings, meanwhile, sat at €8.4bn (£7.3bn), up 6% from last year.
The growth was driven by the property and casualty business, with commercial lines growing by 4% due to higher volumes and favorable price effects across all geographies.
Personal lines, meanwhile, grew by 7%, driven by favorable price effects and strong growth in net new contracts.
Thomas Buberl, chief executive at Axa, said: ”Our P&C franchise posted stellar results, combining a healthy balance between price and volume with best‑in‑class margins, a lower expense ratio and higher investment income.
“Axa XL Insurance increased earnings with stable underlying margins.”
Outlook
Looking ahead to 2026, Axa said that in P&C Retail and SME mid-market, pricing remains favorable and the group expects to continue benefiting from the earn through of higher pricing and underwriting actions.
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The insurer also believes that it is on track to deliver the main financial targets of its “Unlock the Future” plan. This is underpinned by organic growth, scaling technical capabilities across its businesses and driving operational efficiency across the organisation through reinforced cost management.
Buberl said: “These results demonstrate the earnings power of our well-diversified franchise and reinforce our confidence in Axa’s ability to generate sustainable, long‑term value.
”I would like to thank all our colleagues, agents and partners for their commitment, as well as our customers for their continued trust.”
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