Financial Data and Key Metrics Changes - The company reported a 5% growth in revenue, reaching €104 billion, with all geographies contributing positively [6][7] - Underlying earnings per share increased by 5%, leading to a 6% adjusted earnings per share growth, with a proposed 7% increase in dividend to €1.43 per share [6][9] - Solvency improved by 5 percentage points, now at 198%, with a shift away from relying on equivalents [12][38] Business Line Data and Key Metrics Changes - AXA XL experienced a 10% growth in premiums, driven by strong price increases, particularly in the U.S. liability and excess casualty lines [13][55] - The P&C business showed solid performance with a combined ratio down to 91%, reflecting improved profitability [45][61] - Life & Savings business remained resilient despite a slight decrease, attributed to low interest rates and transformation efforts [64][66] Market Data and Key Metrics Changes - Growth in France was solid at 4%, driven by Health and Life & Savings, while P&C remained stable [43][44] - Europe also grew by 4%, with strong contributions from the U.K. and Germany [47][48] - Asia and international markets showed significant growth, particularly in Turkey and Mexico, with P&C driven by high pricing components [50][51] Company Strategy and Development Direction - The company is focused on increasing profitability and simplifying operations, with a clear strategy to reduce complexity in its geographical footprint [31][33] - The integration of AXA XL is progressing well, with a shift towards a new phase of acceleration in profitability [18][20] - The company aims to maintain a strong balance sheet, transitioning from financial risk to technical risk [32][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the adequacy of reserves and the ability to achieve €1.2 billion in underlying earnings for 2020, despite challenges [59][60] - The company remains committed to long-term growth in China, viewing demographic trends as favorable [30] - Management highlighted the importance of customer experience, with a Net Promoter Score of 75% indicating strong customer satisfaction [34] Other Important Information - The company has successfully reduced its temporary increased leverage from 32% to 29% [11] - AXA's cash at the holding level increased from €1.7 billion to €3 billion, with a significant reduction in gross financial debt [81][84] - The company is actively managing its exposure to natural catastrophes and large losses through strategic underwriting and reinsurance [58][59] Q&A Session Summary Question: Commentary on casualty reserves and specific factors considered - Management discussed the importance of litigation costs and systemic risks in setting reserves, noting that 98% of claims are settled before court [90][92] Question: Comfort level with exposure movements in casualty and financial lines - Management clarified that growth in casualty and financial lines is being managed carefully, with a shift in underwriting focus to safer segments [95] Question: Adequacy of reserve buffer at XL - Management confirmed that the €1.2 billion target does not include any release of provisions, indicating confidence in the existing reserve levels [97]

FY19 Earnings February 20, 2020 IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNINGFORWARD-LOOKING STATEMENTS ANDTHE USE OFNON-GAAP FINANCIAL MEASURES | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

| --- | --- | |------------|----------------| | | | | | | | | | | | | | | | | | Half Year 2019 | | Appendices | | | | | | | August 1, 2019 | IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNINGFORWARD-LOOKING STATEMENTS ANDTHE USE OFNON-GAAP FINANCIAL MEASURES Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance shouldnot be place ...

Investor Day November 28, 2018 IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors tha ...