Ageas reports nine months 2022 results
09 Novembro 2022 - 3:30AM
Ageas reports nine months 2022 results
Ageas reports
nine months 2022
results
- Continued solid commercial and operating performance
- Group net result affected by financial markets in Asia and
inflation in Europe.
Key Figures |
Result |
- Group nine
months net result
excluding RPN(i) amounted to EUR
567 million
- Group
third quarter net result
excluding RPN(i) amounted to EUR
111 million,
affected by net capital losses in Asia and inflation in Europe for
an amount of EUR 175 million
|
Inflows |
- Group inflows were up
3% to EUR 13
billion with increases in both Life and
Non-Life
- Life inflows
increased by 3% to EUR 9
billion driven by new business in China
- Non-Life inflows were
up 5% to EUR 4
billion supported by all regions
|
Operating Performance |
- Combined ratio stood
at
94.4%,
including 3pp impact from adverse weather events in Belgium and the
UK during the first quarter
- Operating Margin
Guaranteed stood at 87
bps and Operating Margin
Unit-Linked amounted to
39 bps
|
Balance Sheet |
- Shareholders’ equity
amounted to EUR 8
billion or EUR 42.32 per share
- Group Solvency
IIageas ratio improved
and reached
225%, well
within the Group’s risk appetite
- General Account Total Liquid
Assets as at 30 September 2022 stood at EUR 1
billion
- Life Technical
Liabilities excl. shadow accounting stood at the same
level as at end 2021 at EUR
91 billion at Ageas’s
part
|
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 -- Achievements |
|
- Ageas opened its reinsurance activity
to third parties trading under the brand Ageas Re
- To support the development of its core
business, Ageas invested in its agency distribution channel by
partnering with Million Dollar Round Table
- Exploring new partnerships with the ambition to participate in
ecosystems and the platform economy, Ageas teamed up with eBaoTech
Corporation at Group level and with Amazon in the UK
- Ageas obtained the CO2-neutral
label issued by CO2 Logic
|
Hans De Cuyper, CEO
Ageas:
« Ageas continued to perform well commercially and
operationally in the third quarter of 2022. This translated into
sustained growth in inflows in the Life business in China and an
increase across the business in Non-Life. The strong combined ratio
and good margins in Life indicate that the insurance activities
continue to perform within the Impact24 operating targets. It is
mainly the low interest rates in China and the net capital losses
in Asia that have affected the Group net result in the third
quarter.In the context of our Impact24 strategy, we took important
steps that will drive our business forward in terms of growth,
commercial excellence, integration of data & technology and
sustainability. I want to thank our people around the world for
demonstrating their strong focus on value added growth under
extreme volatile market circumstances. »
- Read the full press release
Ageas SA NV (EU:AGS)
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