Regulated Information - Ageas Full Year Results 2012
(Thomson Reuters ONE) -
Ageas posts strong results across all businesses
-------------------------+-----------------------------------------------------
Insurance net profit of|Life net profit at EUR 430 million (vs. a net loss of
EUR 624 million;|EUR 425 million), strong performance in all
fourth quarter at|businesses; fourth quarter net profit at EUR 137
EUR 175 million|million supported by improved investment result
|
|Non-Life & Other Insurance net profit at EUR 194
|million
|(vs. a net profit of EUR 112 million) and marked by
|further operating improvements; fourth quarter net
|profit at EUR 38 million
|
|Group inflows (at 100%) of EUR 21.3 billion, up 24%;
|fourth quarter inflows at EUR 5.8 billion
|§ Life inflows at EUR 15.6 billion, +26%
|§ Non-Life inflows at EUR 5.7 billion, +16%
|
|Group combined ratio improved to 99.1% as at end of
|December (vs.100.1%); fourth quarter at 102.3%
|impacted by traditional seasonal influences
|
|Life Technical Liabilities of consolidated entities
|at EUR 68.8billion, up 7%
-------------------------+-----------------------------------------------------
Group net profit of|Group net profit of EUR 743 million vs. a net loss of
EUR 743 million|EUR 578 million in 2011, impacted by adverse
|financial markets
|
|General Account net profit of EUR 119 million (vs. a
|net loss of
|EUR 265 million), mainly driven by legacies; fourth
|quarter net profit of EUR 50 million
|
-------------------------+-----------------------------------------------------
|Shareholders' equity at EUR 9.9 billion, EUR 42.75
Shareholders' equity up;|per share, + 28% vs. end of 2011, supported by higher
solvency|unrealised capital gains on fixed income and 2012 net
stable|profit
|
|Insurance solvency at 206%; Group solvency ratio at
|231%; General account net cash position of EUR 1.2
|billion
-------------------------+-----------------------------------------------------
Proposed gross|Proposed 2012 gross cash dividend of EUR 1.20 per
cash dividend|share, + 50 %
|
-------------------------+-----------------------------------------------------
CEO Bart De Smet said:
"Our full year results for 2012 demonstrate continued positive momentum in our
insurance activities across the Group. This has resulted in significant year
on year improvements in net profit, net inflows and combined ratios. Our
inflows and results in Life were particularly strong notwithstanding the low
interest rate environment. During the year, we also made important headway in
simplifying our Group and reducing the complexity of the General Account. Our
balance sheet fundamentals remained strong, with improvements in our cash
position, and strong solvency ratios. 2012 was also the year in which we
outlined to the market our ambitions and financial targets for the next three
years. We ended the year encouraged by our results and confident in the future
based on what we have achieved this year. In line with our consistent dividend
policy, we are pleased to propose to the shareholders a gross 2012 cash
dividend of EUR 1.20 per share."
Pdf complete version press release:
http://hugin.info/134212/R/1679523/548483.pdf
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Source: Ageas via Thomson Reuters ONE
[HUG#1679523]
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