At its investors day, AXA increased its 2020 adjusted ROE target to 14-16% and the dividend payout to 50-60%. Debt gearing (25-28%), underlying EPS CAGR (3-7%) and cumulative FCF (€28-32bn) targets were confirmed. The new Solvency II range is now 170-220%. The insurer confirmed its rapid transformation towards a global P&C operator. We will update our figures, taking into consideration the new dividend payout range of 50-60%. Our opinion will remain positive.
28 Nov 2018
Better targets for Ambition 2020
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Better targets for Ambition 2020
At its investors day, AXA increased its 2020 adjusted ROE target to 14-16% and the dividend payout to 50-60%. Debt gearing (25-28%), underlying EPS CAGR (3-7%) and cumulative FCF (€28-32bn) targets were confirmed. The new Solvency II range is now 170-220%. The insurer confirmed its rapid transformation towards a global P&C operator. We will update our figures, taking into consideration the new dividend payout range of 50-60%. Our opinion will remain positive.