(Finance) – The French insurance group AXA has registered total revenue up 6% in 2021, with growth across all business lines. L’underlying profit increased by 61% to € 6.8 billion, while underlying earnings per share increased by 61% to € 2.75. L’Net income increased by 135% to € 7.3 billion (more than double the € 3.2 billion in 2020), mainly due to the increase in underlying profit, a favorable change in the value of assets invested and higher net realized capital gains. A dividend of € 1.54 per share (+ 8% compared to 2020).
The group announced today the launch of a share buyback program up to € 0.5 billion to neutralize the dilution of divestment profits. AXA intends to cancel all repurchased shares. In addition, the group announced that it had completed, on 10 February 2022, the execution of the 1.7 billion euro share purchase program announced on 4 November 2021. Considering the performance achieved in 2021 and assuming that the current operating conditions persist, AXA plans to register a profit growth per share underlying in the high range of the 3-7% range previously indicated by 2023.
“Considering the strong operating and capital performance of the group, the Board proposes a dividend of 1.54 euros per share, up 8% compared to last year, which corresponds to a payout ratio of 56% – said CEO Thomas Buberl – AXA focuses on the growth of highly liquidity generating businesseswhile limiting volatility and on executing ambitious capital management initiatives to support a sustained and attractive return. ”