Regulated information - Ageas reports Q1 2017 result
(Thomson Reuters ONE) -
* Marked increase in Insurance net result
* Residual impact of regulatory review in the UK
+------------------------------------------------------------------------------+
|Q1 2017 |
+------------------------------------------------------------------------------+
| * Insurance net result up 11% to EUR 222 million versus EUR |
| 201 million |
| Net Result * General Account net result of EUR 112 million negative |
| versus EUR 834 million negative |
| * Group net result at EUR 110 million versus EUR 633 million |
| negative |
+------------------------------------------------------------------------------+
| * Group inflows (at 100%) at EUR 12.7 billion, up 14% |
| (including 2% negative foreign exchange impact) |
| Inflows Group inflows (Ageas's part) at EUR 4.7 billion, up 3% |
| (including 2% negative foreign exchange impact) |
| * Life inflows up 16% to EUR 10.9 billion and Non-Life up 1% |
| at EUR 1.8 billion (both at 100%) |
+------------------------------------------------------------------------------+
| * Combined ratio at 98.3% versus 97.8% |
| Operating * Operating Margin Guaranteed at 124 bps versus 103 bps |
| Performance * Operating Margin Unit-Linked at 33 bps versus 25 bps |
| * Life Technical Liabilities of the consolidated entities at |
| EUR 74.2 billion and stable compared to the end of 2016 |
+------------------------------------------------------------------------------+
| * Shareholders' equity at EUR 9.3 billion or EUR 45.91 per |
| share vs EUR 9.6 billion or EUR 46.56 per share end 2016 |
|Balance Sheet * Insurance Solvency II( ageas) ratio at 177% and Group |
| Solvency II(ageas) ratio at 186% |
| * General Account Total Liquid Assets at EUR 1.8 billion |
| versus EUR 1.9 billion at the end of 2016 |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
| Belgium * Sustained solid operating performance and capital gains led |
| to substantial profit growth |
+------------------------------------------------------------------------------+
| UK * Residual impact related to the regulatory discount rate |
| review |
+------------------------------------------------------------------------------+
| Continental * Solid results in both Life and Non-Life |
| Europe |
+------------------------------------------------------------------------------+
| Asia * Sustainablel increase in net result thanks to continued |
| growth in high quality regular premium products |
+------------------------------------------------------------------------------+
All Q1 2017 figures are compared to the Q1 2016 figures unless otherwise
stated.
Ageas CEO Bart De Smet said: "In the first quarter, all segments achieved solid
results with the exception of the UK. The UK's result was affected by the
residual impact of the regulatory discount rate revision by the UK government.
Although various mitigating actions have already been taken, the impact will
continue to be felt throughout the year. The overall Insurance net result
reflected a good operating performance and benefitted also from solid capital
gains on Ageas's real estate transactions.
The group's balance sheet remained solid with an Insurance Solvency II(ageas
)ratio that slightly decreased but remained above target.
Also during the first quarter an important next step in the Fortis settlement
was taken with a public hearing held by the Court of Amsterdam. The Court
confirmed that it will take a decision regarding Ageas's request to declare the
settlement binding on Friday 16 June 2017."
Pdf version of the full press release:
http://hugin.info/134212/R/2103182/797737.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: 10.05.2017 - 07:31 Uhr
Sprache: Deutsch
News-ID 541387
Anzahl Zeichen: 5545
contact information:
Town:
Brussels
Kategorie:
Business News
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"Regulated information - Ageas reports Q1 2017 result"
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