AXA

Gross written premiums and other revenues of EUR 66.3 billion, up 5%; underlying earnings of EUR 4.5 billion, up 4% and up 9% excluding AXA IM; underlying earnings per share of EUR 2.19; Solvency II ratio of 218% at 30 June 2026. States that 'AXA completed the disposal of its Asset Management business (AXA IM) to BNP Paribas on July 1, 2025', which is why comparatives are restated. Thomas Buberl is quoted as chief executive and announces that a new strategic plan for 2027-2029 will be presented on 15 September 2026.

The most recent register entry, stated to be valid as of 1 May 2026. Records that AXA Investment Managers invests more than USD 177 million in twelve weapons companies on the BDS divestment shortlist (BAE Systems, Boeing, Caterpillar, General Dynamics, Honeywell International, L3Harris, Leonardo, Lockheed Martin, Northrop Grumman, Oshkosh, Rolls-Royce and Textron), with the underlying data compiled before BNP Paribas's acquisition. Records the past divestments from Elbit Systems at the end of 2019 and from five Israeli banks between 2022 and 2024, and states that 'BNP Paribas acquired AXA Investment Managers in July 2025. As part of the acquisition, AXA maintains control over asset allocation.'

AXA's 2026 annual shareholders' meeting was held on 30 April 2026 at 2.30pm CEST, with share registration closing on 23 April 2026. Records the company's own timetable for the annual meeting, the forum at which shareholders have raised the arms holdings in previous years; the next such meeting falls in spring 2027.

The current edition of the register most relevant to European financial institutions. Researched by Profundo, it screens 104 businesses and identifies 1,115 European financial institutions with relationships to them, USD 310 billion in loans and underwriting between January 2023 and August 2025, and USD 1,503 billion in shares and bonds held at 31 August 2025. AXA's individual position in this edition has not been extracted here; the UN Special Rapporteur's June 2025 report sources its USD 4.09 billion figure in part to the coalition's 2024 dataset.

Effective 1 December 2025, Guillaume Borie moves from chief executive of AXA France to Global Head of Finance, Strategy, Underwriting, Risk and Technology, reporting to the Group CEO; Mathieu Godart becomes chief executive of AXA France; Karima Silvent becomes Deputy General Secretary; Matthieu Caillat, previously chief operating officer of AXA XL, becomes Group Chief Technology and AI Officer. Frédéric de Courtois and Alexander Vollert step down as senior advisers. Establishes that investment and underwriting policy now sit within a single executive remit.

The Commission concluded on reasonable grounds that Israeli authorities and security forces have committed and continue to commit acts of genocide against Palestinians in Gaza, that they have had and continue to have genocidal intent, and that the State of Israel bears responsibility for the failure to prevent genocide, the commission of genocide and the failure to punish genocide. The analysis covers Gaza only, between 7 October 2023 and 31 July 2025.

The single most important source on this page, and the only one that addresses AXA as an insurer rather than only as an investor. Paragraph 76, verbatim: 'Global insurance companies, including Allianz and AXA, also invest large sums in shares and bonds implicated in the occupation and genocide, partly as capital reserves for policyholder claims and regulatory requirements, but primarily to generate returns. Allianz holds at least $7.3 billion and AXA, despite some divestment decisions, still invests at least $4.09 billion in tracked companies named in the present report. Their insurance policies also underwrite the risks other companies necessarily take when operating in Israel and the occupied Palestinian territory, thus enabling the commission of human rights abuses and "de-risking" the operational environment.' The report's footnotes source the USD 4.09 billion figure to 13F filings and the Don't Buy Into Occupation 2024 dataset, and the phrase 'despite some divestment decisions' to Ekō's report on the Israeli bank divestment. The report is illustrative rather than exhaustive: it says over 45 entities named were informed of the allegations and 15 replied.

At AXA's shareholders' meeting in Paris a shareholder challenged executives over the group's investments in arms manufacturers supplying Israel, while campaigners protested outside the venue. The article cites USD 173.62 million across fourteen arms companies, over USD 150 million in firms supplying arms used in Gaza, and USD 135 million in companies producing depleted uranium, white phosphorus and nuclear arms. It records no response from AXA executives.

Found AXA holds $176.7M in arms companies supplying Israel, contributing to $1.7B total from major insurers including Allianz, Aviva, and Zurich. The campaign's underlying report, 'Ensuring Genocide', is cited by the UN Special Rapporteur in A/HRC/59/23 in support of the finding that insurers' policies de-risk the operational environment for companies operating in Israel and the occupied Palestinian territory.

As at 30 June 2024 AXA held USD 150.43 million (USD 78.87 million in shares and USD 71.56 million in bonds) in eleven companies arming Israel: Rolls-Royce, GE Aerospace, Honeywell, Textron, Boeing, Lockheed Martin, General Dynamics, Northrop Grumman, RTX, L3Harris and BAE Systems. The report further finds holdings of USD 173.62 million across at least fourteen weapons manufacturers, of which USD 134.91 million sits in thirteen companies producing controversial weapons including nuclear arms, white phosphorus and depleted uranium, which the researchers state breaches AXA's own controversial weapons policy. AXA publishes a controversial weapons policy and a group responsible investment policy; it is not quoted in the report.

DBIO ranks AXA 22nd among top 100 European investors in Israeli settlement enterprise with $1.449B invested in companies involved in settlements.

The primary record of what the bank divestment actually covered. Research by Jeroen Walstra of Profundo, commissioned by Ekō and delivered on 28 June 2024, using Refinitiv data across six quarters from 31 December 2022 to 24 June 2024. Findings: until 30 September 2023 AXA held more than 2.5 million shares worth USD 20.4 million in Bank Hapoalim, Bank Leumi and Israel Discount Bank; by 24 June 2024 its holdings had effectively dropped to zero, with a residual 16,920 Bank Leumi shares (USD 130,000) that Profundo attributed to reporting and internal accounting delays and treated as full divestment; AXA had held nothing in Mizrahi-Tefahot or First International Bank of Israel since at least 31 December 2022. Profundo records that AXA did not sell in response to share prices, which were steady or rising, but in response to external pressure. Ekō contacted AXA on 24 July 2024 to ask which policy had governed the decision, and states it had received no response as of 20 August 2024.

The campaign announcement of the divestment confirmed by the Ekō and Profundo research: 2.5 million shares worth USD 20.4 million in Bank Hapoalim, Bank Leumi and Israel Discount Bank sold between 30 September 2023 and 24 June 2024, following the earlier full divestment from Elbit Systems by the end of 2019. The coalition, 'Stop AXA Assistance to Israeli Apartheid', has campaigned since 2016.

The International Court of Justice found Israel's continued presence in the occupied Palestinian territory unlawful, held settlements and their associated economic activity contrary to international law, and set out obligations on states in relation to dealings with settlements. The legal framework on which exclusion, vigilance-plan and underwriting decisions rest, and the opinion cited by Ekō in its correspondence with AXA.

The earlier baseline against which the divestments should be read. By August 2022 AXA held USD 15.6 million across four Israeli banks (Bank Hapoalim USD 6.53 million, Bank Leumi USD 5.63 million, Israel Discount Bank USD 3.08 million and Mizrahi Tefahot USD 600,000), up from USD 6 million across two banks in May 2021, so its exposure was rising, not falling, before the campaign escalated. The same edition ranked AXA 24th among European investors with USD 957 million invested in other companies involved in the settlement enterprise, naming Caterpillar, Volvo Group, IBM, Siemens, Puma, Airbnb and Alstom.

AXA's own position, recorded here so that its answer sits alongside the allegation. The company states that it applies a comprehensive responsible investment policy across more than EUR 450 billion of assets, that it has established dedicated policies for sectors with particularly sensitive environmental or ethical challenges, and that it is a signatory to the Principles for Responsible Investment. AXA also publishes a controversial weapons policy. It has not published any policy specific to Israel or the occupied Palestinian territory, and did not respond to Ekō's request of 24 July 2024 to identify the policy that governed its divestment from the five Israeli banks.