AXA targets healthcare costs and AI in new three-year strategy

AXA has identified rising healthcare costs, ageing populations, and emerging technological risks as key priorities under a new three-year strategy aimed at accelerating organic growth.

The French insurance group said its ‘Growing Forward’ plan, covering 2027–2029, would focus on gaining market share while expanding the use of artificial intelligence (AI) across its operations.

Chief Executive Thomas Buberl said AXA wanted to improve its response to major challenges facing the insurance industry, including rising healthcare costs, climate change, new technological risks, and ageing societies.

“To keep risks insurable, we will make prevention core to our offers and services,” Buberl commented.

The insurer also plans to accelerate the deployment of AI across its value chain, targeting improvements in underwriting, operational efficiency, and customer service. AXA said it would build on investments in data, technology infrastructure, and partnerships with technology providers.

The strategy follows AXA’s current ‘Unlock the Future’ plan and places greater emphasis on customer-led organic growth, disciplined underwriting, portfolio management and cost control.

AXA raises financial targets

Under the new plan, AXA is targeting annual underlying earnings per share growth of 7–9% between 2026 and 2029, alongside underlying return on equity of 15–17%.

It is also targeting around €25 billion in cumulative organic cash upstream between 2027 and 2029 and has set a total payout ratio target of 75%.

For 2026, AXA expects underlying earnings per share growth to reach the top end of its 6–8% target range, with underlying return on equity at the top end of its 14–16% range.

In other news, AXA Health International has appointed Dr Melissa Castro as Head Medical Adviser, strengthening senior clinical oversight across its international healthcare business.