The French insurance group AXA has presented its strategy for 2015. The latter provides for higher margins due to increased capital allocation in developing countries.
The group also announced the sale of its life, not life, savings and pensions operations in Canada for 1.9 billion EUR (2.7 billion USD). Among the other ambitions exhibited, the group is intent to achieve a return on equity of 15%, a growth in operating income per share of 10% per year and the accumulation of operating cash flow of 24 billion EUR (34.5 billion USD) by 2015.
The savings, pensions and life insurance pole should report a margin greater than 28% on new business and reduce its operating ratio by 5 points by that date. As to non-life insurance, the combined ratio will be below 96%.