Axa Plans $1.2 Billion Buyback as Underlying Earnings Rise
- Firm expects to surpass key target of its 2023 strategic plan
- Axa aims to announce a new strategic plan in February 2024
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Axa SA unveiled plans to repurchase as much as €1.1 billion ($1.2 billion) of its shares as the insurer announced 2022 underlying earnings that rose and said it expects to surpass one of its key financial targets by the end of the year.
The Paris-based firm intends to carry out this new buyback program “as soon as reasonably practicable,” with plans to complete the purchases by the end of the year, according to a statement Thursday. Axa will also pay a dividend of €1.70 a share, up 10% from a year earlier.