Ageas reports first half-year results 2022
10 Agosto 2022 - 2:30AM
Ageas reports first half-year results 2022
Ageas reports first
half-year results
2022
- The strong commercial start continued across the business
- Excelling on all operating targets
- Interim dividend of EUR 1.5 per share
Key Figures |
Result |
- Group
net result excluding RPN(i)
amounted to EUR
456 million
|
Inflows |
- Group inflows were up
5% to EUR 9
billion with increases in both Life and
Non-Life
- Life inflows
increased by 5% to EUR 6.3
billion driven by Belgium and new business in
China
- Non-Life inflows were
up 5% to EUR 2.7
billion mainly thanks to Belgium and Portugal
|
Operating Performance |
- Combined ratio stood
at 94.9%,
including 5pp impact from adverse weather events in Belgium and the
UK during the first quarter
- Operating Margin
Guaranteed stood at 95
bps and Operating Margin
Unit-Linked amounted to
39 bps
|
Balance Sheet |
- Shareholders’ equity
amounted to EUR 9
billion or EUR 49.11 per share
- Group Solvency
IIageas ratio
improved to 221%, well within the
Group’s risk appetite
- The Operational Capital Generation and the
Operational Free Capital Generation respectively
amounted to EUR 844 million and
569 million EUR, illustrating the strong
performance of the Group
- General Account Total Liquid
Assets as at 30 June 2022 stood at EUR
1.2 billion
- Life Technical
Liabilities excl. shadow accounting of the consolidated
entities were down 3% compared to end 2021 to
EUR 73 billion
|
A complete overview of the figures and comparison with previous
year can be found on page 5 of this press release and on the Ageas
website. Key figures and main highlights on the segments can be
found in the Annexes of this press release.
Impact24 -- Non-financial and
Sustainability Achievements |
|
- AG in Belgium has
maintained its ‘Towards Sustainability Label’,
making AG the biggest provider of Sustainable Financial Insurances
in Belgium. Also at AG, all Life insurance products now meet the
requirements of Article 8 of the SFDR
Regulation.
- In the UK, Ageas
was recognised as Personal Lines Insurer of the Year for the second
consecutive year at the independently judged British Insurance
Awards.
|
Hans De Cuyper, CEO Ageas:
“ I am very pleased that we are building further on the
positive start we made at the beginning of this year with an
exceptionally strong second quarter. Both operationally and
commercially, we performed very well across regions and product
lines. Also notable is the post-covid sales momentum in most Asian
countries. Thanks to the solid underlying performance in both
Europe and the non-controlled partnerships in Asia, reflected in
improving Life margins and a strong combined ratio, we feel
confident in confirming the outlook of EUR 1 billion net profit for
2022. Our strong capital position and free capital generation
allows us to strengthen the growth commitment we made for our
dividend under Impact 24, and consequently we are happy to announce
today an interim dividend of EUR 1.5 per share for our
shareholders. Ageas continues to perform well in terms of its core
business, and at the same time it is taking important steps in
living up to its non-financial commitments under Impact24 in the
field of sustainability, climate and health and
wellbeing. “
- Read the full press release
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