AXA SA

CS: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€81.00	Xwl	Xytd

AXA Earnings: Robust Top-Line Indicators; Fair Value Estimate Maintained, Shares Fairly Valued

Henry Heathfield

Nov 3, 2023

AXA has reported robust key indicators for the first nine months of 2023 with a continuation of the group’s strategy to orient away from some savings lines such as unit-linked and focus on commercial and personal property and casualty insurance. AXA has decided to not refinance EUR 1 billion of debt that fell due, improving the company’s best-in-class leverage.

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