Ageas reports Full Year 2017 results
21 Februar 2018 - 7:30AM
Record
Insurance net result of EUR 960 million
Proposed gross cash dividend of EUR
2.10
Full year 2017 |
|
Net Result |
-
Insurance net profit up 33% to EUR 960 million versus EUR 721 million
-
General Account net result of EUR 337 million negative versus EUR 694 million negative
-
Group net result at EUR 623 million versus EUR 27 million
|
Inflows |
-
Group inflows (at 100%) at EUR 33.8 billion, up 7% (including 3% negative foreign
exchange impact)
Group inflows (Ageas's part) grew 2% to EUR 14.4 billion (including 2% negative
foreign exchange impact)
-
Life inflows up 9% to EUR 27.6 billion and Non-Life down 1% at EUR 6.2 billion
(both at 100%)
|
Operating
Performance |
-
Combined ratio at 95.2% versus 101.1%
-
Operating Margin Guaranteed stable at 93 bps
-
Operating Margin Unit-Linked at 27 bps versus 25 bps
-
Life Technical Liabilities of the consolidated entities at EUR 74.7 billion and stable
compared to the end of 2016
|
Balance Sheet |
-
Shareholders' equity remains stable at EUR 9.6 billion
-
Shareholders' equity per share increased from EUR 46.56 to EUR 48.30 as the number
of shares reduced,
following the share buy-back programme
-
Insurance solvency IIageas ratio and Group solvency II both
at 196%
-
General Account Total Liquid Assets at EUR 1.8 billion versus EUR 1.9 billion end 2016
|
Dividend |
|
|
|
4th quarter 2017 |
|
Net Result |
|
Inflows |
|
Operating Performance |
|
All
12-month 2017 figures are compared to the 12-month 2016 figures
unless otherwise stated.
Ageas CEO Bart De
Smet said: "We are very pleased to announce our 2017 results,
the best in our history. A strong operating performance in Belgium,
Continental Europe and Asia, and progress made in the UK, despite
continuing impact from the Ogden rate changes, all contributed to
our performance.
Based on these results and
confident in our capacity to generate cash, we will propose to our
shareholders a gross cash dividend of EUR 2.10 per share. This
represents a pay-out ratio of 42% of the net Insurance result and
an increase of 24% compared to the 2016 dividend of EUR 1.70,
excluding the exceptional EUR 0.40 related to the Hong Kong
divestment.
I am very pleased that our
continuous focus and persistence resulted in the achievement of our
financial targets in 2017. I am also optimistic that we will
confirm this achievement in the last year of our Ambition 2018
cycle. In the meantime, we are preparing our strategic plan for the
period 2019-2021 and will present this after the summer."
Full version press
release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ageas via Globenewswire
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