Ageas upgraded to ‘AA-’ by Fitch; Outlook Stable
25 Juni 2021 - 8:00PM
Ageas upgraded to ‘AA-’ by Fitch; Outlook Stable
Ageas upgraded to
‘AA-’ by
Fitch; Outlook
Stable
Fitch Ratings has upgraded
the Insurer Financial Strength (IFS)
Rating of ageas SA/NV, AG
Insurance and Ageas Insurance
Limited to
‘AA-’
from
‘A+’
(Strong). All Rating Outlooks
areStable
The upgrade reflects Ageas’s sustained strong
financial performance and very strong capitalisation despite
adverse and volatile business and capital-market conditions caused
by the coronavirus pandemic. The ratings also reflect Ageas' low
leverage and very strong business profile.
Ageas is a listed international
insurance Group with a heritage spanning almost 200 years. It
offers Retail and Business customers Life and Non-Life insurance
products designed to suit their specific needs, today and tomorrow.
As one of Europe's larger insurance companies, Ageas concentrates
its activities in Europe and Asia, which together make up the major
part of the global insurance market. It operates successful
insurance businesses in Belgium, the UK, France, Portugal, Turkey,
China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia,
Singapore, and the Philippines through a combination of wholly
owned subsidiaries and long term partnerships with strong financial
institutions and key distributors. Ageas ranks among the market
leaders in the countries in which it operates. It represents a
staff force of over 45,000 people and reported annual inflows of
over EUR 36 billion in 2020 (all figures at 100%).
- Pdf version of the press release
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