AXA CEO Thomas Buberl recently discussed the company’s performance and outlook, emphasizing the importance of preventative measures in maintaining affordable home insurance. Buberl spoke with Bloomberg’s Tom Mackenzie from Paris.
Buberl noted that AXA was not significantly impacted by the recent wildfires in Los Angeles, estimating losses at 100 million euros. This is in comparison to competitor Munich Re’s reported claims of 1.2 billion euros.
In a demonstration of its financial strength, AXA plans a 1.2 billion euro stock buyback this year and will also increase its dividend. This is in addition to the repurchase planned after the completion of the sale of its investment management business to BNP Paribas.
