Regulated Information - Ageas 2014 Results
(Thomson Reuters ONE) -
Ageas reports 13% higher Insurance profit and proposes dividend increase to
EUR 1.55
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Insurance net Life net profit at EUR 533 million (vs. EUR 438
profit of million), mainly driven by Belgium and Asia;
EUR 737 million, fourth quarter net profit down to EUR 92 million (vs.
up 13%; EUR 126 million) due to lower capital gains in Belgium.
fourth quarter at
EUR 158 million Non-Life & Other Insurance net profit at EUR 204 million
(vs. EUR 157 million) (vs. EUR 217 million), notwithstanding adverse weather
events in the first half of the year;
fourth quarter net profit at EUR 66 million (vs. EUR 30
million) with solid performance across all segments.
Group inflows (at 100%) at EUR 25.8billion, up 11%,
largely driven by growth in Asia (+21%);
- Life inflows at EUR 19.7 billion, +14%
- Non-Life inflows at EUR 6.0 billion, +3%
- Fourth quarter Group inflows at EUR 6.3 billion, +16%
Group inflows (Ageas's part) at EUR 12.5 billion, +7%.
Group combined ratio at 99.6% (vs. 98.3%); fourth
quarter at 99.8% (vs. 102.3%).
Life Technical Liabilities of consolidated entities at
EUR 74.8billion, up 8% vs. the end of 2013.
Return on Equity - Insurance at 8.8% (vs. 8.3%);
excluding unrealised gains & losses at 11.4% (vs. 10.4%)
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Group net profit of General Account net loss of EUR 261 million (vs. a net
EUR 476 million, loss of EUR 85 million), mainly affected by the increase
down 16%; in the RPN(I) liability and the provision following the
fourth quarter at FortisEffect judgment; fourth quarter General Account
EUR 194 million net profit of EUR 36 million (vs. a net loss of EUR 100
(vs. EUR 57 million) million) driven by a decrease in the RPN(I) liability.
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Balance sheet Shareholders' equity at EUR 10.2 billion (vs. EUR 8.5
remains billion), EUR 46.60 per share (vs. EUR 37.65 per share),
strong mainly driven by increased unrealised gains on the fixed
income portfolio.
Insurance solvency ratio at 206% and Group solvency at
210%.
General Account net cash position of EUR 1.6 billion
(vs. EUR 1.9 billion at the end of 2013).
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Proposed gross Proposed 2014 gross cash dividend of EUR 1.55 per share,
cash dividend +11%.
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CEO Bart De Smet said:
"In 2014, we have delivered a strong insurance performance with a solid rise
in inflows, driven primarily by Asia, and a double digit growth in net profit.
The disciplined approach of our operating companies towards the upstreaming of
cash and further optimisation of our capital structure have also resulted in
solid cash flows at Group level. At the same time, through our Non-Life
acquisitions in Italy and Portugal and the disposal of our UK Life activities,
we made further progress towards our strategic objectives of increasing Non-
Life inflows and improving our Return on Equity.
We continue to take many initiatives with our partners to structurally improve
the profitability of our businesses through the use of new technologies and
through innovative commercial approaches that add value to the customer
experience.
Following the strong performance of our insurance activities and in line with
our dividend policy the Board of Directors will propose to the shareholders a
11% increase in the gross cash dividend to EUR 1.55 per share."
Pdf version press release:
http://hugin.info/134212/R/1893894/671239.pdf
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originality of the information contained therein.
Source: Ageas via GlobeNewswire
[HUG#1893894]
Unternehmensinformation / Kurzprofil:
Datum: 12.02.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 371094
Anzahl Zeichen: 5326
contact information:
Town:
Brussels
Kategorie:
Business News
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