Ageas reports on Q3 results
November 06 2019 - 1:30AM
Ageas reports on Q3 results
- Solid year-to-date result
- Quarterly result marked by strong operating performance in most
businesses combined with strong investment results
|
Net Result |
- Nine months net result stood
at EUR 877 million versus EUR 656 million thanks
to the Asian Life business and the strong Non-Life performance in
Belgium and Continental Europe. The revaluation of the RPN(i)
liability had a EUR 106 million positive impact on the year-to-date
Group net result.
- Q3 net result significantly up from EUR 214
million to EUR 271 million
- Q3 Life net result doubled
from EUR 90 million to EUR 182 million driven by
Belgium and AsiaNet result in Non-Life fell from
EUR 99 million to EUR 86 million mainly due to the
challenging UK Motor market
|
Inflows |
- Nine months Group inflows (at 100%) of
EUR 28.5 billion, up 11%, scope-on-scope
- Q3 Group inflows (at 100%) of EUR 7.5
billion, up 13%, scope-on-scope Life
inflows up 14% to EUR 5.9 billion and Non-Life up
9% at EUR 1.7 billion (both at 100% and scope-on-scope)
- Q3 Group inflows (Ageas’s part) up 2% at EUR 3.2 billion,
scope-on-scope
|
Operating Performance (at
nine months) |
- Combined ratio at 94.7% versus 95.1%
- Operating Margin Guaranteed at 81 bps versus
93 bps but on track to reach target range of 85 bps to 95 bps
- Operating Margin Unit-Linked stable at 26
bps
|
Balance Sheet |
- Shareholders’ equity at EUR 11.2 billion or
EUR 58.58 per share
- Group Solvency IIageas ratio at 199% despite
the continuing decrease in yield curve
- General Account Total Liquid Assets at EUR 1.6
billion, of which EUR 0.6 billion is ring-fenced for the
Fortis settlement
- Life Technical Liabilities excluding shadow accounting of the
consolidated entities at 30 September increased by 2% to
EUR 73.2 billion
|
A complete overview of the figures can be viewed on the Ageas
website.
Ageas CEO Bart De Smet said: «
We delivered another solid operating performance this quarter. The
net result continued to benefit from our strict Asset Liability
Management in our European operations and the prudent valuation
methodology of our assets. Thanks to the positive impact of the
Chinese equity markets in the third quarter, we were able to
realise important capital gains. We are equally very satisfied with
the strong increase in inflows achieved in most segments this
quarter and since the beginning of the year.»
- Read the full press release
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