Regulated information: Ageas reports first half year 2016 Results
(Thomson Reuters ONE) -
* Insurance net result reflects strong operating performance and capital gain
on Hong Kong sale
* Group net result includes the provision for the Fortis settlement agreement
+------------------------------------------------------------------------------+
|1(st) half 2016 |
+------------------------------------------------------------------------------+
| * Insurance net profit up 21% to EUR 608 million versus |
| EUR 504 million |
| * General Account net result of EUR 675 million negative |
| including the net impact EUR of 889 million of the |
| Net Result provision for the Fortis settlement agreement |
| * Capital gain of EUR 404 million on the divestment of |
| the Hong Kong Life activities equally distributed over |
| Insurance and General Account |
| * Group net result at EUR 67 million negative versus EUR |
| 469 million |
+------------------------------------------------------------------------------+
| * Group inflows (at 100%) at EUR 18.3 billion, up 10% |
| (including 4% negative foreign exchange impact) |
| Inflows Group inflows (Ageas's part) grew 7% to EUR 7.8 billion|
| (including 3% negative foreign exchange impact) |
| * Life inflows up 13% to EUR 15 billion and Non-Life up |
| 1% at EUR 3.3 billion (both at 100%) |
+------------------------------------------------------------------------------+
| * Combined ratio at 99.0% versus 95.4% including the |
| impact of the Brussels terrorism events (1.9%) and |
| Operating adverse weather events in Belgium and the UK |
| Performance * Operating Margin Guaranteed at 108 bps versus 90 bps |
| * Operating Margin Unit-Linked at 28 bps versus 41 bps |
| * Life Technical Liabilities of the consolidated entities|
| at EUR 74.5 billion (+1% compared to the end of 2015) |
+------------------------------------------------------------------------------+
| * Shareholders' equity at EUR 10.3 billion or EUR 49.59 |
| per share |
| Balance Sheet * Insurance solvency II( ageas) ratio at 183% and Group |
| solvency II at 209% |
| * General Account Total Liquid Assets at EUR 2.1 billion |
| versus EUR 1.6 billion end 2015 |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
|2(nd) quarter 2016 |
+------------------------------------------------------------------------------+
| * Insurance net profit at EUR 407 million, up 33% |
| Net Result compared to Q2 2015 and Group net profit at EUR 566 |
| million, both positively impacted by the capital gain |
| on the divestment of the Hong Kong Life activities |
+------------------------------------------------------------------------------+
| * Strong result supported by higher realised capital |
| gains on real estate |
| Belgium * Good operating performance offset by the impact of the |
| Brussels terrorism events in Q1 and the adverse weather|
| events in Q2 |
+------------------------------------------------------------------------------+
| * Sustained growth in inflows in local currency, driven |
| UK by Motor |
| * Net result impacted by June floods and storms |
+------------------------------------------------------------------------------+
| Continental * First time inclusion of Ageas Seguros in Portugal |
| Europe * Net result impacted by downward movement of equity |
| markets |
+------------------------------------------------------------------------------+
| * China and Thailand main drivers of inflows and net |
| Asia result |
| * Solid net result supported by the gain on the Hong Kong|
| divestment |
+------------------------------------------------------------------------------+
All 1(st) half year 2016 figures are compared to the 1(st) half year 2015
figures unless otherwise stated.
Ageas CEO Bart De Smet said: "The first half of this year was marked by the
announced settlement agreement related to the civil Fortis legacies in the first
quarter, the closing of the sale of our Hong Kong activities and the acquisition
of Ageas Seguros in Portugal. Since the initial announcement, the settlement has
attracted further support from other parties which is a positive development in
the process towards achieving a binding declaration from the Court of Amsterdam
which we hope to obtain by mid 2017.
As we look more broadly at our Insurance activities, the Asian and Belgian Life
business were the key drivers of the growth of inflows during the first half of
2016. This first half net insurance result, including the capital gain related
to the Hong Kong divestment, was the best so far for Ageas. Excluding all
exceptional events, our operating performance is improving and remains in line
with our ambitions. The operational result combined with our solid cash position
and very stable and strong solvency level give us the comfort to launch a new
buy-back programme of EUR 250 million."
More information can be found in the press release attached.
Pdf version of the press release:
http://hugin.info/134212/R/2034202/757543.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#2034202]
Unternehmensinformation / Kurzprofil:
Datum: 10.08.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 488186
Anzahl Zeichen: 7776
contact information:
Town:
Brussels
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 255 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Regulated information: Ageas reports first half year 2016 Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Ageas (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
