Fortis - Half Year Results 2009 - Insurance activities net profit EUR
228 million, Group net profit
(Thomson Reuters ONE) - Highlights* Insurance net profit of EUR 228 million; negative impact of market on investment portfolio of EUR 84 million net-of-tax, compensated by a EUR 94 million tax recovery in Belgium* Group net profit of EUR 886 million of which General net profit of EUR 658 million; EUR 835 million net positive result on transaction related events and a EUR 301 million net-of-tax charge for legal dispute with Fortis Capital Company Ltd* Total gross inflow, including non-consolidated joint ventures at 100%, stable at EUR 7.9 billion; inflow on a consolidated basis EUR 5.9 billion (down 6%)* Capital position further strengthened; Total insurance solvency ratio of 229%CEO Bart De Smet said: 'The first half of 2009 was marked by theclosing of the transactions with BNP Paribas, the Belgian State andFortis Bank, representing a new start for Fortis as a pure insurancecompany. Our results benefited from a number of exceptional itemsrelated to these transactions but I'm also pleased to report that ourinsurance operations performed well in what were sometimes difficultmarkets, with inflow levels in line with the same period last year.For the entire year, and based on the most recent data, we expect ourinflow levels to be at least in line with last year. Severalcommercial campaigns were rolled out in a number of countries insupport of efforts to increase inflows, and resulted in astrengthening of our main market positions, an illustration of theresilience of our franchise. Nevertheless, we expect the marketenvironment to remain challenging with an economic situationimpacting customer behaviour across Life and Non-Life businesses. Asin the past, we remain vigilant and disciplined towards our businessperformance. As previously announced, we are currently conducting astrategic review, focusing on our insurance activities and thebalance sheet structure, the conclusions of which will becommunicated on 25 September. In conclusion, we continue to leveragethe full potential of the new Fortis.http://hugin.info/134212/R/1337469/318703.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 27.08.2009 - 07:31 Uhr
Sprache: Deutsch
News-ID 5141
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 327 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Fortis - Half Year Results 2009 - Insurance activities net profit EUR
228 million, Group net profit "
steht unter der journalistisch-redaktionellen Verantwortung von
FORTIS (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
