Bureau meeting March 27th 2024
08.07.2024
Koen Hermans, Director of Remuneration, Benefits and International Mobility, and Director of Group Employee Relations, welcomed the members of the secretariat at a time when the Group's results were being published and the new strategic plan for the next three years was being presented.
Alban de Mailly Nesle, Group Chief Financial Officer, presented the Group's results and Frédéric de Courtois, Group Chief Executive Officer, outlined the ambitions of the next strategic plan.
Both answered questions and responded to comments from employee representatives on the secretariat of the Group's European Works Council.
Presentation of AXA Group results.
Alban de Mailly Nesle, CFO, emphasised the balance between personal and commercial insurance activities. He mentioned the reduction in certain activities and the increase in others, as well as the investments planned in new risks such as cyber, the ecological transition and the mid-market. He also mentioned the growth in results in commercial insurance, thanks in particular to AXA XL, despite a slight deterioration in the claims ratio in motor insurance in Germany and the UK. On the subject of share buy-backs, he explained that the Group retains the income it needs to grow and returns the rest to shareholders. With regard to the transformation of AXA SA into a reinsurance company, Alban de Mailly Nesle indicated that the balance sheet was in line with the Group's objectives. Lastly, he outlined the plans for developing the asset management business, stressing the need to improve the cost base in order to cope with pressure on commissions and rising interest rates.
Presentation of "Unlock the Future" strategic plan
Frédéric de Courtois, Group Deputy CEO, presents the new plan, which aims to accelerate organic growth, promote technical and operational excellence, and increase AXA's role in society through care & dare. He also mentioned the need to grow the distribution networks while increasing their profitability, and stressed the importance of technology and data for the company. On the subject of SmartWorking, he spoke of the balance that needs to be struck, and said that the Group should increase the overall rate of on-site presence. Frédéric de Courtois also discusses the impact of the geopolitical context on AXA's pricing policy, investment in technology on an ethical basis, and the difficulties facing the healthcare sector in the UK and Germany.
Read the secretariat's notes here: