Gains in core segments propel 2025 earnings growth for AXA

French insurer AXA has reported growth in 2025 earnings, driven by broad-based growth across core business lines. Underlying earnings for the year reached €8.4bn, a 6% increase over the same period of 2024. Excluding the contribution from AXA’s investment management division, which was sold to BNP Paribas Cardif for around €5.1bn in July, underlying earnings growth reached 9% year-on-year. Underlying earnings per share were up 8% to €3.86. Operational efficiency also improved, with the combined ratio ...