Article ID: aa50d8fbf3b6428160c79a42cf55c864647aeeb1a5f8ed0e9d3780274f55473c
Source ID: primary:reinsurancene.ws
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URL: https://www.reinsurancene.ws/axa-ready-to-move-into-top-gear-regarding-ai-adoption-ceo/
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Speaking at a presentation accompanying the unveiling of AXA’s 2027–29 strategy, CEO Thomas Buberl suggested the group has invested heavily in AI and its wider readiness to deploy the technology, with the French insurer now poised to accelerate its adoption. “We modernised the technological foundations of AXA. We’ve invested heavily in AI, but also in AI readiness for our applications, so that they’re able to deal with AI,” Buberl explained. The executive added that around 80% of AXA’s employees have already adopted AI in their day-to-day work. “They’re happy to do that because they see that it provides a lot of assistance. It enables them to work better and focus more on our clients. So we’re now ready to move into top gear on that,” Buberl said. The executive continued, “AI will be shaking up our industry quite a lot. Our products will be subscribed to or underwritten differently with the help of technology, and we’ll also be distributing our products differently. “We want to put AI at the forefront of what we do throughout our organisation. We want to scale AI, and we want to build up future leadership by designing the insurance of the next decade.” As outlined above, AXA has raised its financial ambitions, setting four key targets for the 2027–29 plan period: underlying earnings per share CAGR of 7–9% between 2026E and 2029E; underlying return on equity of 15–17% over 2027E–2029E; mid-teens CAGR in book value per share, including cumulative dividends, between 2026 and 2029E; and around EUR 25 billion of cumulative organic cash upstream over 2027E–2029E. Alban de Mailly Nesle, Chief Financial Officer, AXA, commented on this, “Our plan for 2027–2029 is one of disciplined growth and execution, with more ambitious targets for underlying EPS growth and ROE, and the introduction of a new book value per share growth target. “At the same time, we will maintain our focus on balance sheet quality, in particular a very strong Solvency II position. “Taken together, the new plan targets reflect the strength, diversification and resilience of AXA’s model and our commitment to delivering attractive, predictable shareholder value creation and returns over time.”
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