Regulated information - Ageas reports 9 Months 2015 Results
(Thomson Reuters ONE) -
* Group inflows (at 100%) rose 17%
* Continued strong operating performance in Non-Life
* Life results impacted by lower capital gains and by equity impairments in Q3
+------------------------------------------------------------------------------+
| 9 Months 2015 |
+------------------------------------------------------------------------------+
| * Insurance net profit up by 6% to EUR 613 million, with Asia |
| and Non-Life business as main contributors, further |
| supported by positive foreign exchange rates |
| Profit * Life net profit impacted by impairments as a result of |
| turbulent equity markets in the 3(rd )quarter and lower |
| capital gains year to date |
| * Group net profit at EUR 599 million; General Account net |
| result of EUR 14 million negative |
+------------------------------------------------------------------------------+
| * Group inflows (at 100%) at EUR 22.8 billion, up 17% (11% |
| positive foreign exchange impact) |
| Inflows Group inflows (Ageas's part) grew 11% to EUR 10.4 billion |
| (8% positive foreign exchange impact) |
| * Life inflows up 21% to EUR 17.9 billion and Non-Life up 5% |
| to EUR 4.8 billion (both at 100%) |
+------------------------------------------------------------------------------+
| * Combined ratio improved to 95.1 % versus 99.6% supported by |
| Operating all consolidated entities |
| Performance * Operating Margin Guaranteed at 80 bps versus 98 bps |
| * Life Technical Liabilities of consolidated entities at EUR |
| 73.6 billion (- 2% vs. the end of 2014) |
+------------------------------------------------------------------------------+
| * Shareholders' equity up to EUR 10.9 billion or EUR 51.12 per|
| share |
|Balance Sheet * Insurance solvency I ratio at 231% and Group solvency at |
| 232% |
| * General Account net cash position at EUR 1.4 billion |
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| * Continued solid operating performance in Non-Life offset by |
| Belgium lower capital gains in Life |
| * Reduced appetite for short term investment products due to |
| persistent low interest rates |
+------------------------------------------------------------------------------+
| * Improved results in Household and Other Lines partly offset |
| UK by adverse results in Motor |
| * Motor Market premiums started to increase |
+------------------------------------------------------------------------------+
| Continental * Solid result driven by strong Non-Life results partially |
| Europe offset by equity impairments in Life |
+------------------------------------------------------------------------------+
| * Continued solid growth in inflows in both Life and Non-Life |
| Asia * Net results significantly above last year despite the impact|
| of the decline in Asian equity markets in Q3 |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
| * Insurance net profit at EUR 109 million, down 54% compared to Q3 |
| 2014 due to lower realised capital gains and a EUR 62 million net |
|Q3 2015 impact from impairments on equities as announced on 21 October |
| 2015 |
| * Group net profit at EUR 130 million |
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All 9 months 2015 figures are compared to the 9 months 2014 figures unless
otherwise stated.
Ageas CEO Bart De Smet said: "Ageas's nine months figures confirmed continued
growth in inflows, mainly driven by the Asian Life business. In Non-Life we
achieved for a third quarter in a row a strong operational result leading to a
significant improvement in the Group combined ratio. Lower investment results
due to reduced levels of realised capital gains and equity impairments in the
third quarter impacted our Life performance and consequently the Group net
insurance result.
Taking out the volatility due to exceptional items from the last two quarters,
the Group's nine-month financial performance remains strong."
Pdf version of the press release:
http://hugin.info/134212/R/1963947/716731.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ageas via GlobeNewswire
[HUG#1963947]
Unternehmensinformation / Kurzprofil:
Datum: 04.11.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 431755
Anzahl Zeichen: 6473
contact information:
Town:
Brussels
Kategorie:
Business News
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