AXA stock holds steady after 2025 earnings and capital update

AXA (FR0000120620) remains anchored by its 2025 results, including adjusted earnings per share of EUR 3.59, up 14.9% from 2024, and a Solvency II ratio of 216% at 31 December 2025. The French insurer also reported EUR 110 billion in gross written premiums and other revenues for 2025, underlining the scale of its life, health, and property-casualty franchise.

EUR 3.59 EPS

AXA reported adjusted earnings per share of EUR 3.59 for 2025, compared with EUR 3.12 in 2024, a year-on-year increase of 14.9%. The insurer’s gross written premiums and other revenues reached EUR 110 billion in 2025, giving the earnings base a larger top line to absorb claims, investment volatility, and capital needs.

The capital position remained a central point of reference. AXA ended 2025 with a Solvency II ratio of 216%, a level that supports the group’s balance-sheet flexibility and dividend capacity more than a pure growth story does.

Capital at 216%

The 216% Solvency II ratio at 31 December 2025 is the key risk buffer in the current numbers set. For a large insurer, that ratio matters because it frames how much room management has for underwriting, acquisitions, and shareholder distributions while still staying well above regulatory minimums.

AXA also reported that its 2025 gross written premiums and other revenues reached EUR 110 billion, which gives the earnings increase context. The combination of EUR 110 billion in revenue and EUR 3.59 in adjusted EPS suggests that scale and profit conversion both moved in the same direction during the year.

Life and health scale

AXA’s 2025 revenue mix was still shaped by life, health, and property-casualty insurance, the three lines that carry most of the group’s operating momentum. The 2025 gross written premiums and other revenues figure of EUR 110 billion shows the breadth of that platform, while the 14.9% EPS increase points to better profit conversion than a pure volume comparison would imply.

That matters for equity holders because insurers are usually judged on two layers at once: underwriting and capital strength. AXA’s 2025 data gave both a profit metric and a solvency metric, which makes the report more useful than a simple top-line update.

AXA Life & Savings

AXA Life & Savings remains one of the group’s core business lines, supported by long-duration savings and protection products that typically feed fee and premium income over time. In 2025, the group’s EUR 110 billion in gross written premiums and other revenues shows the scale at which that model operates, while the 2025 EPS figure of EUR 3.59 shows the bottom-line result investors tend to watch most closely.

For a large European insurer, the product mix matters because it affects earnings stability, capital consumption, and sensitivity to market conditions. The 216% Solvency II ratio at year-end 2025 signals that AXA entered 2026 with a comfortable buffer against those pressures.

AXA stock at year-end

AXA stock closed the 2025 reporting frame with a business profile defined by EUR 3.59 adjusted EPS, EUR 110 billion of gross written premiums and other revenues, and a 216% Solvency II ratio. Those three dated figures are the clearest indicators for how the insurer entered 2026.

The share price itself is omitted here because no dated market quote is available in this call, so the focus stays on the verifiable operating and capital numbers that define the stock story.