Ageas reports full-year results 2023
28 Febbraio 2024 - 7:30AM
Ageas reports full-year results 2023
Ageas reports
full-year results 2023
- Excellent commercial performance in
Non-Life across all segments and double-digit growth in Life in
China
- Net Operating Result at EUR 1,166
million, reflected by an excellent Operational Capital
Generation
- Cash position increased
significantly to EUR 959 million
- Proposed total dividend of EUR 3.25
per share, up more than 8%. Final dividend of EUR 1.75 per
share
Key Figures (Group) |
Result |
- Net
Operating Result of
EUR 1,166
million, representing a 16.2 %
Return on Equity
- Net Result of
EUR 953 million
- Operational Capital
Generation of EUR 1,803
million
- Operational
Free Capital Generation of EUR 1,162
million
|
Inflows(at constant exchange
rate) |
- Inflows grew 8% at
constant exchange rates, amounting to EUR 17.1
billion driven by the excellent commercial performance in
Non-Life and strong sales in Life in China
- Life inflows stood at
EUR 11.2 billion with lower inflows in Belgium and
Europe, compensated by growth in Asia
-
Non-Life inflows grew 17 % at constant exchange
rates and stood at EUR 5.9 billion thanks to
increases across all segments
|
Operating Performance |
- Combined
ratio of 93.3%,
- Guaranteed Margin of
124 bps and Unit Linked Margin of
39 bps
|
Balance Sheet |
- Comprehensive Equity
of EUR 15.6 billion or EUR 85.04 per share
- Pillar II
Solvency II ratio improved, reaching
217%, well above the Group’s risk appetite
- General account Total Liquid
Assets as at 31 December 2023 stood at EUR 959
million
- Life
Liabilities excl. UG/L stood at EUR 84.7
billion
|
An overview of the figures and comparison with
previous year can be found on page 7 of this press release and on
the Ageas website.
Impact24 -- Non-financial and Sustainability
Achievements |
|
- Due to the continued sustainability efforts throughout the
company, Ageas improved its ratings with five out of the six ESG
rating agencies that follow the Group.
- Several Group entities were awarded for their efforts in the
field of Human Resources, which supports Ageas’s ambition to be a
“Great place to Grow” for its employees.
- Ageas introduced several initiatives to strengthen its core
business and distribution channels, improve customer experience,
and integrate new technologies.
|
Hans De Cuyper, CEO Ageas, commented: “In 2023, we
delivered a strong commercial performance. This was mainly driven
by a remarkable growth in Non-Life across the Group and by the
strong Life activities in China, while Reinsurance also
successfully concluded its 1 January 2024 renewal campaign. The
solid margins in Life and the strong combined ratio in Non-Life
confirm the operational strength of our business now and going
forward. In meeting our commitments with regards to the Net
Operating Result, we are proud to announce a total gross cash
dividend of EUR 3.25 over 2023, in line with our engagement under
Impact24. Regarding the progress on our Impact24 strategy, again in
2023, we took important steps in delivering on our ambitions in
terms of growth, commercial excellence, integration of tech &
data, and sustainability. As a result, we made good progress
against our non-financial and sustainability targets on many
fronts, which was also recognised by the outside world, as
evidenced by the rating increase throughout the year by five of the
six ESG rating agencies that follow us. I’m very grateful to our
dedicated people and valued partners for their significant
contributions to our strong performance in 2023, and I want to
thank our investors and customers for their unwavering trust in our
company.”
- Read the full press release
Grafico Azioni Ageas SA NV (BIT:1AGS)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Ageas SA NV (BIT:1AGS)
Storico
Da Mag 2023 a Mag 2024