Axa raises €400m through 2024 employee share scheme

Insurer Axa has raised hundreds of millions of euros through its 2024 employee share scheme.

Called Shareplan, the latest edition of the annual initiative was launched in September this year and saw more than 26,000 employees in 40 countries participate.

New shares were offered at €28.10 for the classic offer and €32.87 for the guarantee plus proposition.

Through the initiative, Axa has raised around €400m and issued close to 13 million new shares.

Helen Browne, group general counsel and employee shareholder representative to the Axa board of directors, said: “The excellent results of this new edition once again demonstrate our collective commitment to this model.

“Anchored in Axa’s culture, Shareplan is a powerful lever to strengthen alignment among our teams by involving them even more closely in the group’s long-term performance.”

‘Heart of the model’

Shareplan was first launched in 1993 and allows Axa employees to subscribe to shares issued by way of a capital increase reserved for staff.

Thomas Buberl, chief executive at Axa, said: “Sharing value has been at the heart of our business model since Axa was founded.

“With Shareplan, our employees have the opportunity to become shareholders in the company under privileged conditions, thereby contributing to the group’s development and success.

“In 2023, more than 23,000 employees participated in the share offering, demonstrating the continued success of Shareplan, which has become a major annual event in our group culture.”