AXA Lays Out 2023 Strategic Plan, Financial Targets
By Olivia Bugault
AXA SA on Tuesday revealed its 2023 strategic plan and set
financial targets for the 2021-2023 period.
The new plan revolves around five strategic actions: The
expansion of health and protection, the simplification of customer
experience, the reinforcement of underwriting performance, boosting
AXA's climate initiatives and growing cash flow, the French
insurance giant said.
To these purposes, AXA set new financial targets that include
health growth revenue of more than 5% in average for the 2020-2023
period and 500 million euros ($596.3 million) in absolute cost
reduction by 2023 compared with 2019.
AXA also targets annual underlying earnings per share growth of
3% to 7% on average from 2020 to 2023, and expects EUR5
billion-EUR6 billion of cash upstream per year by 2023 and a
solvency II ratio target of roughly 190%.
"Our group is now reshaped to a simpler and more focused
organization, closer to its customers and with the right scale
across our geographies and preferred segments, Health, Protection
and P&C Commercial lines," AXA Chief Executive Officer Thomas
Write to Olivia Bugault at firstname.lastname@example.org
(END) Dow Jones Newswires
December 01, 2020 03:17 ET (08:17 GMT)
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