Business
France’s Axa launches $2 billion share buyback, plans another in 2022
Published by maria gbaf
Posted on November 5, 2021
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on November 5, 2021
1 min readLast updated: January 28, 2026
Axa launches a $2 billion share buyback and plans another for 2022, reporting a 4% revenue rise and significant hurricane Ida claims.
PARIS (Reuters) – French insurer Axa announced the launch of a share buyback programme for up to 1.7 billion euros ($2 billion) on Thursday and said it was planning another next year.
Europe’s second-biggest insurer, after Germany’s Allianz, said the share buyback to be launched in 2022 would amount to up to 500 million euros as Axa seeks to compensate for earnings dilution from assets disposals.
In a separate statement, Axa reported a 4% rise in nine-month revenue and said it expected its company-focused XL unit to pay about 400 million euros in claims for damages due to hurricane Ida that hit the United States in August.
Chief Financial Officer Alban de Mailly Nesle told reporters the target of a 1.2 billion euro underlying result for its XL unit this year remained in place.
In the first nine months of the year, Axa’s revenue grew by 1% in its property and casualty businesses and by 8% in its life and savings activities.
($1 = 0.8660 euros)
(Reporting by Matthieu Protard; Editing by Edmund Blair and Alexander Smith)
The article discusses Axa's $2 billion share buyback and future financial plans.
Axa plans another share buyback of up to 500 million euros in 2022.
Axa reported a 4% rise in nine-month revenue, with growth in various sectors.
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