French insurance heavyweight AXA has laid out its new growth blueprint for the 2027-2029 period, aiming to capture additional market share following years of strategic restructuring.

The group said on Tuesday that the fresh plan, which includes performance targets through 2029, builds on its recent repositioning efforts and is designed to forge a leaner corporate structure.

Under the new framework, AXA is targeting a compound annual growth rate of 7% to 9% in underlying earnings per share, alongside a core return on equity of between 15% and 17%.

Looking ahead to 2026, the company guides for earnings per share growth at the upper end of its 6% to 8% projection band, with return on equity also expected to land near the top of the 14% to 16% guidance range.

Over the coming years, the group's total payout ratio is forecast to sit at 75% of underlying earnings per share.

Under the new strategy, AXA will expand its deployment of artificial intelligence technologies to enhance underwriting capabilities, operational efficiency, and customer service quality.

The company noted that the initiative also focuses on broadening its client base and deepening relationships with existing customers, reinforcing its competitive edge amid an increasingly challenging external environment.

AXA anticipates a compound annual growth rate of roughly 15% in book value per share, with cumulative cash returns of approximately EUR 25 billion (USD 29 billion)—up from EUR 21 billion in the 2024-2026 cycle.

Additionally, AXA projects core profit of around EUR 8.6 billion this year, compared with EUR 8.4 billion in 2025.