Ageas reports 9M 2018 result
14 November 2018 - 7:30AM
9M 2018 |
|
Net Result |
-
Group net result at
EUR 656 million versus EUR 360 million
-
General Account net result
of EUR 8 million negative versus EUR 326
million negative
-
Insurance net result down
3% to EUR 664 million versus EUR 686 million
due to the low level of net capital gains
|
Inflows |
-
Group inflows (at 100%) at
EUR 27.4 billion, up 3% at constant exchange
rate
Group inflows (Ageas's part) slightly up at EUR 11.2 billion
(including 2% negative foreign exchange impact)
-
Life inflows up 2% to EUR
22.8 billion and Non-Life stable
scope-on-scope at EUR 4.5 billion (both at 100%)
|
Operating
Performance |
-
Combined ratio at 95.1% versus 94.9% despite adverse weather in Belgium
and the UK in the first half of 2018
-
Operating Margin Guaranteed at 93 bps versus 106 bps
-
Operating Margin Unit-Linked stable at 26 bps
-
Life Technical Liabilities
of the consolidated entities stable at EUR 73.6
billion
|
Balance Sheet |
-
Shareholders' equity at EUR 9.4 billion or EUR
47.82 per share
-
Insurance Solvency IIageas ratio at
206% and Group Solvency IIageas
ratio at 215%
-
General Account Total Liquid Assets stable at
EUR 1.8 billion
|
|
|
Belgium |
|
UK |
|
Continental
Europe |
|
Asia |
|
All 9M 2018 figures are compared to the 9M 2017 figures
unless otherwise stated.
Ageas CEO Bart De
Smet said: "The solid results we realised over
the first nine months demonstrate that we are well on track to
deliver on our Ambition2018 promises. They also represent a strong
basis for the commitments made for the next 3 years under Ageas's
strategic plan Connect21. An excellent third quarter in Non-Life
underscored a good performance across all of our businesses leading
to a strong 9 months Non-Life result notwithstanding the adverse
weather in the first half of the year. In Life, growth in inflows
continued, although the result was impacted somewhat by lower net
capital gains in Belgium and the recent challenging equity markets
in Asia. On the M&A front, the acquisition of a 40% stake in
Royal Sundaram General Insurance Co. Limited in India, that we
announced today, gives us a strong foothold in the large and
fast growing Non-Life market in India. Together with the recent
sale of our minority stake in Cardif Lux Vie in Luxemburg, this
illustrates our determination to prioritise growth markets and
Non-Life activities."
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information contained therein.
Source: Ageas via Globenewswire
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