AXA SA – Solvency and Financial Report 2022

AXA SA - SFCR 2022

AXA SA - SFCR 2022

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AXA SA - SFCR 2022

AXA SA - Solvency and Financial Condition Report 2022

This report is the Solvency and Financial Condition Report (SFCR) of AXA SA, the holding company of the AXA Group, for the reporting period ended December 31, 2022 (this "Report"), pursuant to Article 51 of the Directive 2009/138/EC (the "Directive") and articles 290 to 298 of the Delegated Regulation 2015/35 (the "Regulation" and, together with the Directive, the "Solvency II Regulations"). The Report has been prepared in accordance with the Solvency II Regulations governing reinsurance reporting and guidance from the European Insurance and Occupational Pensions Authority and the Autorité de Contrôle Prudentiel et de Résolution (ACPR - the French Prudential Supervision and Resolution Authority), and is solely intended to fulfil the requirements thereof. Relevant information about AXA's business is provided in AXA's Universal Registration Document for the year ended December 31, 2022 (the "Universal Registration Document"), which is available on AXA's website (www.axa.com). Pursuant to Article 51 of the Directive, certain information provided in this Report is incorporated by reference to the Universal Registration Document. No information, document or material from the website of the Company or any other source shall form part of this Report, unless such information, document or material is expressly incorporated by reference into this Report. There are, however, certain specific SFCR requirements which are not already reported publicly elsewhere, and those are specifically included in this Report.

Cautionary statement regarding forward looking statements

This Report may include statements with respect to future events, trends, plans, expectations or objectives and other forward-looking statements relating to the Group's future business, financial condition, results of operations, performance, and strategy. Forward-looking statements are not statements of historical fact and may contain the terms "may", "will", "should", "continue", "aims", "estimates", "projects", "believes", "intends", "expects", "plans", "seeks" or "anticipates" or words of similar meaning. Such statements are based on Management's current views and assumptions and, by nature, involve known and unknown risks and uncertainties; therefore, undue reliance should not be placed on them. Actual financial condition, results of operations, performance or events may differ materially from those expressed or implied in such forward- looking statements, due to a number of factors including, without limitation, general economic and political conditions and competitive situation; future financial market performance and conditions, including fluctuations in exchange and interest rates; frequency and severity of insured loss events, and increases in loss expenses; mortality and morbidity levels and trends; persistency levels; changes in laws, regulations and standards; the impact of acquisitions and disposal, including related integration issues, and reorganization measures; and general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of catastrophic events, including weather-related catastrophic events, pandemics, terrorist-related incidents or acts of war. Please refer to Part 5 "Risk factors and Risk Management" of AXA's 2022 Universal Registration Document for a description of certain important factors, risks and uncertainties that may affect AXA's business and/or results of operations. AXA assumes no obligation to update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations.

CERTAIN PRELIMINARY INFORMATION ABOUT THIS SFCR REPORT Transformation of AXA SA into a licensed reinsurer

On May 10, 2022, the Company was granted a reinsurance license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR - the French Prudential Supervision and Resolution Authority) and, as of June 30, 2022, completed its transformation into the AXA Group's internal reinsurer, following the merger of the Company with its captive reinsurer AXA Global Re.

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AXA SA - SFCR 2022