Ageas reports 6M 2018 result
08 August 2018 - 7:30AM
6M 2018 |
|
Net Result |
-
Insurance net result up 7%
to EUR 475 million versus EUR 445
million
-
General Account net result
of EUR 34 million negative versus EUR 161
million negative
-
Group net result at
EUR 441 million versus EUR 284 million
|
Inflows |
-
Group inflows (at 100%) at
EUR 20.1 billion, or -2% (including 3%
negative foreign exchange impact) thanks to a strong second quarter
in Belgium and Asia
Group inflows (Ageas's part) at EUR 8 billion, or -2% (including 2%
negative foreign exchange impact)
-
Life inflows down 1% to EUR
17.0 billion and Non-Life down 4% at EUR 3.1
billion following the sale of Cargeas (both at 100%)
|
Operating
Performance |
-
Combined ratio at 97.8% versus 95.9% despite bad weather in Belgium and
the UK
-
Operating Margin Guaranteed at 110 bps versus 114 bps
-
Operating Margin Unit-Linked at 28 bps versus 25 bps
-
Life Technical Liabilities
of the consolidated entities stable at EUR 74.1
billion
|
Balance Sheet |
-
Shareholders' equity at EUR 9.3 billion or EUR
47.29 per share
-
Insurance Solvency II ageas ratio at
202% and Group Solvency IIageas
ratio at 211%
-
General Account Total Liquid Assets at EUR 1.8 billion
|
|
|
Belgium |
|
UK |
|
Continental
Europe |
|
Asia |
|
All 6M 2018 figures
are compared to the 6M 2017 figures unless otherwise
stated.
Ageas CEO Bart De
Smet said: "Over the past six months we have
achieved major milestones that will shape the future of Ageas. The
Fortis settlement has been declared binding, the put option granted
to BNP Fortis Bank expired, and the Group received authorisation
from the regulator to operate reinsurance activities. As for the
business, we witnessed a commercial turnaround in Asia in
particular in China, a return to growth in Life inflows and an
outperformance of the market in Non-Life in Belgium, the
integration of Portugal on schedule, and a good recovery in the UK.
The solid Non-Life operating performance across all businesses and
a very strong Life result allowed us to deliver a strong insurance
net result. The Group's solid financial
position and our confidence in our capital generating capacity, led
to the decision by the Ageas Board of Directors to continue the
buy-back of shares through a new programme of EUR 200
million."
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Source: Ageas via Globenewswire
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