AXA launches share buy-back program for up to 1.7 billion Euro
AXA’s Board of Directors approved the launch of a share buy-back program for up to Euro 1.7 billion
“The share buy-back program announced today reflects the strength of AXA’s balance sheet, and demonstrates the Group’s financial discipline. It is also a reflection of the confidence we have in our business profile, strategy and prospects”, said Thomas Buberl, Chief Executive Officer of AXA.
In addition to the Euro 1.7 billion share buy-back program announced today, AXA intends to launch a further share buy-back program in 2022 for up to Euro 0.5 billion to neutralize earnings dilution from disposals announced after December 1, 20201, as communicated during AXA’s Investor Day on December 1, 2020.
The Euro 1.7 billion share buy-back program is expected to commence on or about November 8, 2021, and to be completed by the end of April 2022. AXA will buy back its own shares in accordance with the terms of its share repurchase program which has been authorized by the General Shareholders’ Meeting of April 29, 2021. AXA intends to cancel all repurchased shares.
In the event that one or several banks are mandated to carry out the share buy-back program(s) referred to above, further details will be communicated at the appropriate time.
In July 2012 the AXA Commercial Lines and Personal Intermediary businesses came together to form a new single organisation – AXA Commercial Lines and Personal Intermediary.
The business offers brokers a more integrated and consistent approach from AXA which is focussed on their needs as a business – whatever the product. AXA Commercial Lines & Personal Intermediary provides underwriting expertise, offering a range of commercial lines and personal lines products and insurance solutions to our brokers and customers. AXA Commercial & Personal Intermediary is part of AXA Group, a worldwide leader in insurance and asset management serving 101 million clients
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