Bureau meeting February 2025

18.04.2025

Koen Hermans reminded attendees that the Group's 2024 results will be published at the end of February and will be analysed in detail at a future Bureau meeting, alongside a progress update on AXA's strategy in the presence of members of the Management Committee.

Koen Hermans reminded the meeting that AXA recently took part in the AI Action Summit, which brought together more than 100 countries. This participation illustrates the role that AXA wishes to play in society on major issues such as artificial intelligence. That is why the EWC has decided to dedicate two sessions per year to this topic.
 


AXA Group Underwriting Strategy

Under the leadership of Nancy Bewlay, Group Chief Underwriting Officer, AXA's underwriting strategy positions the company as a key player in a complex environment, strengthening technical expertise within the Group. The Group Underwriting Office (GUO), with around 200 employees, focuses on optimising technical performance and profitability, covering property & casualty and life insurance, from pricing to reinsurance cession.


Objectives and strategic approach:
The GUO's mission is to ensure that the entities' objectives are aligned with the Group's overall strategy, while limiting portfolio volatility. 
Organisational Adaptation and Agility:
Faced with market dynamics and global changes, the GUO is committed to adapting AXA's organisation to respond with agility. This includes strengthening technical skills and refocusing on performance, enabling us to better respond to strategic challenges, with a trend towards a more technical performance-driven approach rather than a compliance-driven one.

For 2025, the GUO has defined four major initiatives aimed at preparing AXA for future challenges while ensuring sustainable growth. By focusing on technical excellence and sharing best practices, AXA intends to maintain its market leadership position.

Pascale Rauline, Secretary of the EWC, emphasised that underwriting and the framework in which it operates are at the heart of the Group's business. In an insurance group, the health of these activities is directly linked to job security.

Future risks - AXA Emerging Risks Report

Led by Sabine Wuiame, AXA's Future Risks Report, published on 14 October 2024, highlights emerging threats to the company and society. Based on a survey of experts and the general public, the report highlights the growing complexity of risk management, exacerbated by technological advances, geopolitical challenges and misinformation. The report addresses recent political upheavals and the impact of misinformation, with respondents expressing relative confidence in their ability to detect it.


Risk perception:

  • Vulnerability to crises: 92% of experts and 90% of the general public perceive an accumulation of crises, increasing their sense of vulnerability.
  • Role of insurers: Insurers must play a key role in risk management, particularly in relation to climate change.
  • Geopolitical risks: Concerns about political instability are marked, especially in Europe.

Climate Change and Cybersecurity: Climate change and cybersecurity are identified as major challenges, with growing concern about cyber threats.
Role of Institutions: Only 14% of experts believe that public authorities are prepared to manage climate risks. AXA is committed to raising awareness and investing in prevention initiatives.
The AXA report highlights the importance of increased vigilance and collaboration between insurers, institutions and civil society to address emerging risks and misinformation, thereby ensuring the resilience of societies.

 

Find the minutes of the secretariat here: