Regulated information - Ageas reports Full Year 2016 result
February 15 2017 - 1:30AM
-
Steady growth of Insurance net
result due to solid operating performance
-
Fourth quarter net result
impacted by exceptional items in the UK and Asia
-
Insurance Solvency
IIageas ratio
above target at 182%
-
Proposed gross cash dividend of
EUR 2.10, including EUR 0.40 related to the Hong Kong
sale
Full year 2016 |
|
Net Result |
-
Insurance net result up 9%
to EUR 821 million versus EUR 755
million
-
General Account net result
of EUR 694 million negative versus EUR 15
million
-
Group net result at
EUR 127 million versus EUR 770 million
|
Inflows |
-
Group inflows (at 100%) at
EUR 31.7 billion, up 6% (including 4% negative
foreign exchange impact) Group inflows (Ageas's part) at EUR 14.1
billion, up 3% (including 4% negative foreign exchange
impact)
-
Life inflows up 8% to EUR
25.4 billion and Non-Life stable at EUR 6.3
billion (both at 100%)
|
Operating
Performance |
-
Combined ratio at 98.7% versus 96.9%
-
Operating Margin Guaranteed at 93 bps versus 90 bps
-
Operating Margin Unit-Linked at 25 bps versus 36 bps
-
Life Technical Liabilities
of the consolidated entities at EUR 74.5
billion and stable compared to the end of 2015
|
Balance Sheet |
-
Shareholders' equity at EUR 9.7 billion or EUR
47.03 per share
-
Insurance Solvency II ageas ratio at
182% and Group Solvency IIageas
ratio at 195%
-
General Account Total Liquid Assets at EUR 1.9 billion versus EUR 1.6 billion at the end of
2015
|
|
|
4th Quarter
2016 |
|
Net Result |
|
Belgium |
|
UK |
|
Continental
Europe |
|
Asia |
|
All 12 month 2016
figures are compared to the 12 month 2015 figures unless otherwise
stated.
Ageas CEO Bart De
Smet said: "2016 has been an eventful year for Ageas marked by
by the sale of Hong Kong, the acquisition of Ageas Seguros, the
launch of activities in the Philippines and Vietnam, and the Fortis
Settlement. A court decision to declare the settlement binding that
is expected by mid-2017, would bring to a close a difficult period
for the people concerned and for the Group as a whole.
At an operational level, all
segments, with the exception of the UK, achieved very good results.
In the UK a number of exceptional events forced the Group to take
significant one-off charges for restructuring and reserve
strengthening partly in anticipation of changing regulations.
Unfortunately these events also prevented us from realising the
combined ratio target set out as part of our Ambition 2018
strategy.
Taking into account the strong
underlying operating performance and the solid balance sheet, the
Ageas Board proposes to distribute a total gross cash dividend of
EUR 2.10 for the 2016 performance, EUR 0.40 of which is related to
the capital gain on the Hong Kong divestment "
PDf version of the full press
release
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information contained therein.
Source: Ageas via Globenewswire
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