AXA accelerates a bet on AI and raises growth goals by 2029

AXA expects artificial intelligence to generate between EUR 500 million and EUR 700 million in recurring pre-tax profits in 2029 as part of a new strategic plan to accelerate growth and gain market share.

15/09/2026
by

Lusa

O group presented today its strategy “Growing Forward”, which covers the period 2027-2029 and in which artificial intelligence (IA) will be fundamental to accelerate transformation, especially through improvements in risk subscription, operational efficiency and quality of customer service, said in a statement the executive director, Thomas Buberl, whose mandate was renewed in April for four years, until 2030.

“ We expect a value of between EUR 500 million and EUR 700 million a year thanks to artificial intelligence,” Buberl said at a press conference, in which he acknowledged that this technology “is an opportunity, but also a risk”.

“AI is very present today in cybersecurity, because it offers criminals the possibility of automating certain attacks,” he said.

However, he stressed that “cybernetic risk insurance risks becoming difficult to sustain in the long term if it is not combined with an internal prevention effort” by companies.

Chinese Forum advocates AI control but rejects blocks between China and USA

Experts gathered today in Beijing have advocated the strengthening of human supervision, security mechanisms and international cooperation in the face of the risks of artificial intelligence, rejecting that other countries have to choose between China and the United States in this technology.

Lusa

Axa’s director for Europe, Patrick Cohen, added that they are “not in a phase of experimentation, but of industrialization of artificial intelligence,” citing as an example the fact that “the AI allows to summarize a 40-page contract in a few seconds, accelerate processes and respond to customers in a conversational manner, 24 hours a day.”.

According to Cohen, the application of voice AI in care centers allowed a 40% increase in productivity and a 92% satisfaction rate among AXA clients.

AXA expects the underlying profit per share to grow at an annual rate of between 7% and 9% in the period from 2026 to 2029, compared to the current target of 6% to 8%.

The underlying return on capital will be between 15% and 17% in the period from 2027 to 2029, compared to the range from 14% to 16% expected for the current plan, according to the company.

The insurer also expects to generate around EUR 25 billion in accumulated organic cash flow over the three years of the new plan, compared to the more than 21 billion expected for the period 2023 to 2026.