AXA launches €1.7 billion share buyback program
The French multinational insurance firm AXA launches €1.7 billion share buyback program In addition to €1.7 billion share buy-back program announced, The company intends to launch a further share buy-back program in 2022 for up to Euro 0.5 billion to neutralise earnings dilution from disposals announced after December 1, 2020*, as communicated during AXA’s Investor Day on December 1, 2020.
The Chief Executive Officer of AXA, Thomas Buberl said:
“The share buy-back program announced today reflects the strength of AXA’s balance sheet, and demonstrates the Group’s financial discipline. It is also a reflection of the confidence we have in our business profile, strategy and prospects.”
The Chief Financial Officer of AXA, Alban de Mailly Nesle said:
“AXA continued to deliver an excellent performance in the first nine months of 2021. Revenues increased overall by 7%, with all business lines and geographies contributing to this strong growth.
“In Life & Savings, revenues grew by 12% with continued focus on a high quality business mix. Growth dynamics remained strong in P&C Commercial lines, up 7%, benefiting from a favorable pricing environment, notably at AXA XL. In Asset Management, AXA IM had another very good quarter in both Core and Alts, and grew revenues by 17% in the first nine months.”