Regulated information - Ageas reports Full Year 2016 result
(Thomson Reuters ONE) -
* Steady growth of Insurance net result due to solid operating performance
* Fourth quarter net result impacted by exceptional items in the UK and Asia
* Insurance Solvency II(ageas) ratio above target at 182%
* Proposed gross cash dividend of EUR 2.10, including EUR 0.40 related to the
Hong Kong sale
+------------------------------------------------------------------------------+
|Full year 2016 |
+------------------------------------------------------------------------------+
| * Insurance net result up 9% to EUR 821 million versus |
| EUR 755 million |
| Net Result * General Account net result of EUR 694 million negative |
| versus EUR 15 million |
| * Group net result at EUR 127 million versus EUR 770 |
| million |
+------------------------------------------------------------------------------+
| * Group inflows (at 100%) at EUR 31.7 billion, up 6% |
| (including 4% negative foreign exchange impact) Group |
| Inflows inflows (Ageas's part) at EUR 14.1 billion, up 3% |
| (including 4% negative foreign exchange impact) |
| * Life inflows up 8% to EUR 25.4 billion and Non-Life |
| stable at EUR 6.3 billion (both at 100%) |
+------------------------------------------------------------------------------+
| * Combined ratio at 98.7% versus 96.9% |
| * Operating Margin Guaranteed at 93 bps versus 90 bps |
| Operating * Operating Margin Unit-Linked at 25 bps versus 36 bps |
| Performance * Life Technical Liabilities of the consolidated entities|
| at EUR 74.5 billion and stable compared to the end of |
| 2015 |
+------------------------------------------------------------------------------+
| * Shareholders' equity at EUR 9.7 billion or EUR 47.03 |
| per share |
| Balance Sheet * Insurance Solvency II( ageas) ratio at 182% and Group |
| Solvency II(ageas) ratio at 195% |
| * General Account Total Liquid Assets at EUR 1.9 billion |
| versus EUR 1.6 billion at the end of 2015 |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
|4(th) Quarter 2016 |
+------------------------------------------------------------------------------+
| Net Result * Insurance net result down 87% to EUR 18 million versus |
| EUR 142 million |
+------------------------------------------------------------------------------+
| Belgium * Strong Non-Life operating performance |
+------------------------------------------------------------------------------+
| UK * Impact from restructuring costs and exceptional |
| reserves strengthening |
+------------------------------------------------------------------------------+
| Continental * Excellent performance in both Life and Non-Life |
| Europe |
+------------------------------------------------------------------------------+
| Asia * Life net result impacted by equity impairments |
+------------------------------------------------------------------------------+
All 12 month 2016 figures are compared to the 12 month 2015 figures unless
otherwise stated.
Ageas CEO Bart De Smet said: "2016 has been an eventful year for Ageas marked by
by the sale of Hong Kong, the acquisition of Ageas Seguros, the launch of
activities in the Philippines and Vietnam, and the Fortis Settlement. A court
decision to declare the settlement binding that is expected by mid-2017, would
bring to a close a difficult period for the people concerned and for the Group
as a whole.
At an operational level, all segments, with the exception of the UK, achieved
very good results. In the UK a number of exceptional events forced the Group to
take significant one-off charges for restructuring and reserve strengthening
partly in anticipation of changing regulations. Unfortunately these events also
prevented us from realising the combined ratio target set out as part of our
Ambition 2018 strategy.
Taking into account the strong underlying operating performance and the solid
balance sheet, the Ageas Board proposes to distribute a total gross cash
dividend of EUR 2.10 for the 2016 performance, EUR 0.40 of which is related to
the capital gain on the Hong Kong divestment "
PDf version of the full press release:
http://hugin.info/134212/R/2078791/782489.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ageas via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.02.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 524182
Anzahl Zeichen: 6321
contact information:
Town:
Brussels
Kategorie:
Business News
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