AXA: declining results in 2020

AXAAXA published its 2020 results, which were heavily impacted by the health crisis. The group reported a 7% decrease in turnover which amounted to 96.723 billion EUR (118.799 billion USD) against 103.532 billion EUR (115.941 billion USD) in 2019.

The net profit for the year 2020 stands at 3.164 billion EUR (3.88 billion USD), an 18% decrease from the 3.857 billion EUR (4.319 billion USD) recorded at the end of December 2019.

The operating profit fell by 34% totaling 4.264 billion EUR (5.23 billion USD). Business interruption losses and event cancellations caused by the pandemic are estimated at 1.5 billion EUR (1.8 billion USD) in 2020.

Despite a challenging economic environment, the French insurer has a solvency ratio of 200%, above market expectations. This ratio was 180% as at 30 September 2020.

A 1.43 EUR (1.75 USD) dividend per share is being proposed at the annual shareholders' meeting on 29 April 2021.

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