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AXA Press release Paris , August 2 , 2021 ( 7:00 am CET ) Half Year 2021 Earnings Excellent performance across the Group • Gross revenues at Euro 54 billion , + 7 % ¹ vs. 1H20 • Underlying earnings² at Euro 3.6 billion , + 101 % vs. 1H20 and + 12 % excl . Covid - 19 claims³ ך L • Underlying earnings per share² at Euro 1.48 , + 97 % vs. 1H20 and + 7 % excl . Covid - 19 claims³ • Solvency II ratio at 212 % , up 12 points vs. FY20 " AXA achieved an excellent performance in the first half of 2021 ” , said Thomas Buberl , Chief Executive Officer of AXA . " Revenues and underlying earnings grew strongly across the Group , in all geographies and business lines . " " Revenues were up 7 % , reflecting strong business dynamics underpinned by P & C Commercial lines , up 6 % , and by a strong growth in Life & Savings with a high - quality business mix . In Asset Management , AXA IM continued to perform very well in both Core and Alts platforms . " " The Group's underlying earnings were Euro 3.6 billion in the first semester , up 101 % and representing a 12 % growth excluding the impact from Covid - 19 last year . This strong result was achieved across all our markets , and notably at AXA XL with very good underwriting performance . Taking advantage of the continued favorable pricing momentum , AXA XL is well positioned to deliver its Euro 1.2 billion earnings target in 2021 and sustainable and profitable growth beyond . " " AXA's balance sheet remained very strong , as illustrated by our solvency II ratio of 212 % at the end of June , up 12 points from the end of 2020. " " As part of Driving Progress 2023 , AXA continues its transformation journey with the deployment of innovative health services , notably with the launch of a digital health platform with Microsoft . The Group is playing an active role in society by supporting the economic recovery and strengthening further its engagement towards shaping climate transition . ” " These excellent results reflect the collective efforts of all our colleagues , agents and partners . I would like to thank them for their relentless engagement , as well as our clients for their continued trust . " Key figures ( in Euro million , unless otherwise noted ) 1H20 1H21 Change on a reported basis Change at constant Forex Gross Revenues¹ 52,391 53,865 + 3 % Underlying earnings² 1,885 3,643 + 93 % + 7 % + 101 % Underlying earnings per share² ( in Euro ) 0.75 1.48 + 97 % Net income 1,429 3,996 + 180 % + 191 % Change on a FY20 1H21 reported basis Solvency II ratio * ( % ) 200 % 212 % +12 pts All notes are on page 8 of this document .