AXA Switzerland: Strong Annual Results 2025

Patric Deflorin, CEO AXA Switzerland: 'We look back on a very successful year; 2025 was characterized by high demand for our offerings, which led to significant premium growth. It is evident that our modular products, as well as the expertise, service quality, and personal proximity of our locally based employees throughout Switzerland, are appreciated by our clients. Particularly in life insurance and health coverage, we were able to significantly expand our market position as a reliable partner, also due to our expanded product range. The damage from natural events was lower compared to previous years, with the devastating rockslide in Blatten being a tragic exception. Our claims experts were able to quickly and unbureaucratically assist those affected on site, demonstrating that we deliver on our promise and are reliably there for them in difficult situations. The year 2025 also marked our 150th-anniversary celebrations as well as our involvement in the successful UEFA Women's EURO 2025.'

The premium volume increased by 7 percent compared to the 2024 financial year to CHF 6.6 billion – customer-tailored products in both property insurance and retirement provisioning contributed to this.

Net income also developed positively, rising by 3 percent to CHF 805 million. The main drivers were increased premium volume and lower weather-related and major damages compared to the previous year.

Insurance: Growth in private and corporate business In the insurance sector, AXA, as the Swiss market leader, increased its premium volume by 4 percent to CHF 4.2 billion, further expanding its leading position in a challenging environment.

In the private customer business, premium income increased significantly by 6 percent to CHF 2.1 billion. Thanks to attractive insurance solutions, all areas of property insurance developed very positively, especially motor vehicle insurance, which saw strong growth. At the same time, the trend of increasing claim frequencies and rising replacement part costs continues in motor and household insurance.

The corporate business grew by 2 percent to CHF 2.1 billion, particularly driven by premium growth in collective personal insurance and liability business. In daily sickness benefit insurance, the trend of increasing work absences due to mental illnesses continues, leading to higher claims burdens.

Lower storm and major damages compared to the previous year also had a positive impact on the loss-cost ratio, which improved to 90.1 percent (-0.3 percentage points). The rockslide in Blatten in May 2025 resulted in a claims burden of CHF 40 million. AXA was able to support its insured quickly and pragmatically, once again demonstrating the significant societal importance of the insurance industry.

Retirement: Security with SmartFlex product range In private retirement provisioning, premium income increased remarkably by 21 percent to CHF 1.4 billion thanks to the SmartFlex retirement products. The SmartFlex asset plan, introduced mid-2024, which extends the product range with a single premium product for the 3rd column, was in high demand. With the recently launched income plan, AXA has also completed its SmartFlex product range with a payout plan. This solution allows invested assets to be used for regular income after retirement, thus maintaining the standard of living in retirement.

The premium volume in occupational pensions increased slightly to CHF 845 million. Price reductions for the benefit of customers were offset by market growth. At the same time, risk benefits due to increased disability cases rose – a significant portion of these due to psychologically caused illnesses. At the AXA collective foundations, these now account for 47 percent of expenses in new disability cases.

Health coverage achieved another excellent growth year with its multi-awarded supplementary insurance products. While the customer base continued to grow, premium income increased by 20 percent to CHF 135 million compared to the previous year. This is due not least to the attractive switching service, thanks to which AXA customers saved nearly CHF 25 million on basic insurance this year alone.

AXA Switzerland as a successful asset manager The assets managed for third-party clients in asset management increased by 7 percent to CHF 56 billion due to new money inflows and positive market development. Particularly illiquid investments such as real estate, mortgages, and alternative asset classes contributed to this success. They represent an ideal portfolio addition and further contribute to diversification. In addition, customers benefit from AXA's long-standing experience in the area of illiquid investments.

Jubilee Year 2025 AXA Switzerland celebrated its 150th anniversary last year. It set itself the goal of promoting biodiversity in Switzerland and thus enabled the biodiversity enhancement of around two million square meters in Switzerland with its Flora Futura initiative – roughly one square meter per customer. In this context, the opening of the Flora Futura Park in Winterthur was also a significant event.

The UEFA Women's EURO 2025 was another highlight, with AXA acting as a proud partner. By sponsoring the European Championship, AXA expanded its existing commitment to women's football. It has been involved as the main sponsor and namesake of the AXA Women's Super League and the AXA Women's Cup for Swiss women's football since 2020.

Editor's note: Image rights belong to the respective publisher. Image rights: AXA Versicherungen AG