Ageas reports first half-year results 2023
30 Agosto 2023 - 7:00AM
Ageas reports first half-year results 2023
Ageas reports first
half-year results 2023
- Net Operating Result of EUR 599 million confirmed by an
excellent Operational Capital Generation
- Net Operating Result came in 30% higher (under new accounting
standards), confirming the strength of Ageas’s performance
- Solid commercial performance in Life in China and in Non-Life
across all segments
- An interim dividend of EUR 1.5 per share will be paid out,
consistent with last year
Key Figures (Group) |
Result |
- Net
Operating Result amounted to
EUR 599 million,
representing a 16.9 % Return on Equity
- Net Result amounted
to EUR 531 million
- Operational Capital
Generation amounted to
EUR 1,026 million
- Operational
Free Capital Generation amounted to EUR 492
million
|
Inflows(at constant exchange
rate) |
-
Inflows were up 6% amounting to EUR 9.3
billion
- Life inflows up 4%,
supported by strong growth in Asia
- Non-Life inflows were
up 11 % and stood at EUR 3.0 billion, increasing
significantly across all segments
|
Operating Performance |
- Combined
ratio stood at 93.3%, driven by a strong
claims experience across all product lines and an improved expense
ratio
- Guaranteed Margin
stood at 116 bps and Unit Linked
Margin amounted to 39 bps
|
Balance Sheet |
- Comprehensive Equity
amounted to EUR 15.6 billion or EUR 84.96 per
share
- Pillar II
Solvency II ratio improved, reaching
220%, well within the Group’s risk appetite
- General account Total Liquid
Assets as at 30 June 2023 stood at EUR 0.8
billion
-
Life Liabilities
excl. UG/L stood at EUR 83 billion
|
An overview of the figures and comparison with previous year can
be found on page 5 of this press release and on the Ageas
website.
Impact24 -- Non-financial and Sustainability
Achievements |
|
- MSCI upgraded Ageas’s ESG rating from ‘A’ to
‘AA’, the second highest score and the Group’s 3rd upgrade since
2018, while the ISS rating also improved to an
overall score of 7.
- Ageas’s Belgian subsidiary AG achieved the
Ecovadis GOLD label placing it
among the top 5% best performing companies in the world for
sustainability.
- In efforts to further diversify and strengthen the Group’s
distribution network in Asia, new agency channels
and digital platforms were launched
- Ageas Corporate Centre, AG and AG Real Estate in Belgium and
Ageas UK have all been certified “Top Employer”,
while Ageas Asia has been awarded “Best Companies to work for in
Asia 2023.”
|
Hans De
Cuyper, CEO
Ageas commented : “We
delivered a strong first half, with a solid commercial performance
in Life in China and in Non-Life across all segments. All operating
entities showed resilience under continued turbulence in the
financial markets in Europe and China. Thanks to our strong
business performance and Operational Capital Generation, we are
confident we will reach a Net Operating Result between EUR 1.1 and
1.2 billion for 2023. The Ageas Board has decided to pay out an
interim gross cash dividend of EUR 1.5 per share and we intend to
repeat this on an annual basis going forward. These half year
results are the first under the new IFRS accounting standards, and
we welcome the greater transparency they offer as it better
reflects our performance, especially in respect of the contribution
made by both our Asian participations and our Life business. The
new standards confirm our strong results and show the solidity of
our company with a Comprehensive equity of almost EUR 16 billion.
Having reached the midpoint of our Impact24 strategy, I am
proud of the significant achievements realised so far, and of our
resolute approach to delivering against all of our KPIs. To
conclude, I would like to thank our finance teams across the Group
for their exceptional efforts in ensuring a seamless transition to
IFRS 17”.
- Read the full press release
Grafico Azioni Ageas SA NV (BIT:1AGS)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Ageas SA NV (BIT:1AGS)
Storico
Da Giu 2023 a Giu 2024