Ageas reports 6M 2017 result
August 09 2017 - 1:30AM
Very strong first
half-year
6M 2017 |
|
Net Result |
-
The Insurance net result
increased by 12% to EUR 445 million from EUR
396 million excluding the in 2016 divested Hong Kong operations.
Including Hong Kong, last year's Insurance net result amounted to
EUR 608 million
-
General Account net result
of EUR 161 million negative versus EUR 675
million negative
-
Group net result improved
to EUR 284 million from EUR 67 million
negative
|
Inflows |
-
Group inflows (at 100%) at
EUR 20.5 billion, up 12% (including 2%
negative foreign exchange impact)
Group inflows (Ageas's part) at EUR 8.2 billion, up 4% (including
2% negative foreign exchange impact)
-
Life inflows up 14% to EUR
17.2 billion and Non-Life inflows down 2% to
EUR 3.3 billion (both at 100%)
|
Operating
Performance |
-
Combined ratio at 95.9% versus 99.0%
-
Operating Margin Guaranteed at 114 bps versus 108 bps
-
Operating Margin Unit-Linked at 25 bps versus 28 bps
-
Life Technical Liabilities
of the consolidated entities at EUR 74.2
billion and stable compared to the end of 2016
|
Balance Sheet |
-
Shareholders' equity at EUR 9.0 billion or EUR
44.53 per share versus EUR 9.6 billion or EUR 46.56 per share end
2016
-
Insurance Solvency II ageas ratio at
193% and Group Solvency IIageas
ratio at 198%
-
General Account Total Liquid Assets at EUR 1.7 billion versus EUR 1.9 billion at the end of
2016
|
|
|
Q2 2017 |
|
Belgium |
|
UK |
|
Continental
Europe |
|
Asia |
|
All 6M 2017 figures
are compared to the 6M 2016 figures unless otherwise
stated.
Ageas CEO Bart De
Smet said: "Ageas delivered a strong set of first half-year
figures evidencing good progress with respect to our Ambition 2018
strategic plan. Life inflows continued to grow while at the same
time we optimised the product mix in Belgium and Asia. The result
of our Life activities remained strong in all segments. The
Non-Life businesses in Belgium and Continental Europe realised
excellent results which were reflected in outstanding combined
ratios. In the UK we continued to closely monitor the plans to
strengthen the business in response to among others the impact of
the recent Ogden rate adjustment.
The group's financial position
remained solid with a solvency ratio well above our target as a
result of a healthy operational free capital generation and
favourable market conditions.
In this context, the Ageas Board
of Directors has decided to continue the buy-back of shares by
launching a new programme of EUR 200 million. In the past 6 years
we have bought back an equivalent of 22% of the shares outstanding,
which has led to a 28% increase of our earnings and dividends per
share."
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information contained therein.
Source: Ageas via Globenewswire
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