Regulated Information - Ageas 9 month results 2014
(Thomson Reuters ONE) -
Ageas posts strong third quarter Insurance results
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Insurance net profit of Life net profit at EUR 442 million
EUR 579 million (vs. EUR 311 million); third quarter
(vs. EUR 497 million) net result up 42% benefiting from
EUR 239 million higher financial result in China and
in the third quarter real estate transactions in Belgium.
(vs. EUR 168 million)
Non-Life & Other Insurance net profit
at EUR 137 million (vs. EUR 186
million); third quarter net profit of
EUR 83 million marked by very good
operational performance.
Group inflows (at 100%) up 10% to EUR
19.5 billion, largely driven by Life
inflows in Asia and Continental Europe
- Life inflows at EUR 14.8 billion,
+12%
- Non-Life inflows at EUR 4.6 billion,
+3%
Group inflows (Ageas's part) at EUR
9.3 billion, + 6%.
Group combined ratio at 99.6% (vs.
97.0%); third quarter combined ratio
at 94.8%.
Life Technical Liabilities of
consolidated entities at EUR 72.7
billion, vs. EUR 69.2 billion at the
end of 2013.
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Group net profit of General Account net loss of EUR 297
EUR 282 million million (vs. a net profit of EUR 15
(vs. EUR 513 million) million); both results driven by
EUR 251 million legacies. Positive third quarter net
in the third quarter result with favourable evolution
(vs. EUR 41 million) RPN(I) liability.
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Shareholders' equity per share at EUR Shareholders' equity of EUR 9.9
44.75 billion or EUR 44.75 per share (vs.
(vs. EUR 37.65 EUR 8.5 billion at the end of 2013 or
at the end of 2013) EUR 37.65 per share), driven by
further increasing unrealised gains on
the fixed income portfolio, the Group
net profit and a positive currency
impact.
Insurance solvency at 214% (vs. 207%
at the end of 2013); Group solvency
ratio at 206%
(vs. 214% at the end of 2013).
General Account net cash position at
EUR 1.5 billion (vs. EUR 1.9 billion
at the end of 2013).
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CEO Bart De Smet said: "Following a solid second quarter with important
strategic moves which were overshadowed by litigation developments, we are
pleased to report that the third quarter Insurance net results moved up
substantially. The excellent results for both the Life and Non-Life activities
reflect a solid underwriting performance, even after taking into account
seasonal factors, reinforced by strong financial results in Belgium and China
and lower income tax expenses. Our combined ratio year-to-date in Non-Life
returned below 100% benefiting from a very favourable third quarter.
Our shareholders' equity is at the highest level since October 2008, mainly
due to a further increase in unrealised gains on the fixed income portfolio
but also reflecting a solid Group net result and positive currency impact. And
finally we have started to execute diligently the fourth share buy-back
programme launched in August."
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Full version of the press release:
http://hugin.info/134212/R/1868636/656842.pdf
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ageas via GlobeNewswire
[HUG#1868636]
Unternehmensinformation / Kurzprofil:
Datum: 05.11.2014 - 07:30 Uhr
Sprache: Deutsch
News-ID 349743
Anzahl Zeichen: 5916
contact information:
Town:
Brussels
Kategorie:
Business News
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"Regulated Information - Ageas 9 month results 2014"
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