Ageas reports good first quarter results 2021

Ageas reports good first quarter results 2021

News Highlights

Ageas reports good first quarter results 2021

  • Good start to the year
  • All segments contributing to the strong net result
  • Sound commercial performance in both Life and Non-Life
 
Net Result
  • The Group net result was EUR 296 million driven by a solid operating performance in both Life and Non-Life
  • Insurance net result increased from EUR 113 million to EUR 318 million
  • Net result in Non-Life amounted to EUR 91 million compared to EUR 24 million in last years’ first quarter
  • Life net result of EUR 227 million compared to EUR 89 million last year
Inflows
  • The Group inflows (at 100%) were up 6% to EUR 12.6 billion
  • Life inflows (at 100%) were up 4% to EUR 10.4 billion driven by Asia and Belgium
  • Non-Life inflows (at 100%) were signicantly up to EUR 2.2 billion including EUR 355 million contribution of Taiping Re
OperatingPerformance
  • Excellent Combined ratio at 91.7%
  • Operating Margin Guaranteed at 92 bps and Operating Margin Unit-Linked at 34 bps. Both margins within the target range
Balance Sheet
  • Shareholders’ equity at EUR 11.7 billion or EUR 62.71 per share
  • Group Solvency IIageas ratio remained strong at 195%
  • General Account Total Liquid Assets as at 31 March 2021 at EUR 1.2 billion
  • Life Technical Liabilities excl. shadow accounting of the consolidated entities up 1% compared to end 2020 to EUR 74  billion

A complete overview of the figures and comparison with previous year can be found on page 5 of this press release and on the Ageas website. Key figures and main highlights on the segments can be found in the Annexes of this press release

Ageas CEO Hans De Cuyper said: “Both commercially and operationally, Ageas performed strongly in the first quarter of 2021. The growth in inflows both in Life and Non-Life and the overall solid operating performance reflects the resilience of our business and our people in a world still affected by Covid. The strong first-quarter performance gives us confidence that we can strengthen our guidance to EUR 900 – 950 million.”

“We have also welcomed new colleagues from AvivaSA in Turkey. The investment we made in AvivaSA, provides us with a balanced Life and Non-Life presence in the fast-growing Turkish market. And in the UK, we say goodbye but also thank you to the employees of Tesco Underwriting, wishing them every success in the future development of their business.”

 

  • Read the full press release

  • Check the latest Business news updates and information updates.
  • Please share this news Ageas reports good first quarter results 2021 with your friends and family to support us your one share helps us a lot.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Maui Health Announces New COO, Wade Ebersole

Maui Health Announces New COO, Wade Ebersole

Reporting to the CEO, Ebersole’s responsibilities at Maui Health will include providing oversight and guidance to several departments including, imaging, ...
The Day – Sun hires Amy Scheer as vice president of business operations

The Day – Sun hires Amy Scheer as vice president of business operations

Most recently, Scheer was consulting for the Connecticut Whale of the NWHL, Rugby United New York of Major League Rugby and the Westchester Knicks. She also ...
These investment mistakes will cost you money

CDC Grants $38 Million to State: Money Must Be Used to Reduce Pandemic Health Disparities | News

The CDC provided grantees with concrete examples for how they might spend the grant dollars. “This funding represents a significant investment in health ...
The prosecutor is looking into the hacking of the PM’s aide’s email box

The prosecutor is looking into the hacking of the PM’s aide’s email box

The investigation was launched on June 10 and concerns unlawful use of data in the form of the login and password to Minister Dworczyk’s email. The crime ...
South Euclid receives cash subsidy to help with park improvements, Harwood Road resurface

South Euclid receives cash subsidy to help with park improvements, Harwood Road resurface

It is rare for an applicant to receive a CDBG grant two consecutive years, but this is the second year in a row for South Euclid. The city, in 2020, received ...
Review on JLab GO Air earbuds

Review on JLab GO Air earbuds

This might seem like a first world problem, but they only had 10% charge, and quickly died, whereas the other pair were 90% and good to go. Earbuds are also ...
Elite Pharmaceuticals, Inc. reports financial results for the fiscal year ended March 31, 2021 and provides information regarding the conference call

Elite Pharmaceuticals, Inc. reports financial results for the fiscal year ended March 31, 2021 and provides information regarding the conference call

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops niche generic products. Elite specializes in developing and manufacturing oral, ...
Crypto looks like the dot-com space of the 1990s, and bitcoin may not survive it, says chief investment officer |  Currency news |  Financial and business news

Spring Financial Cleaning Tips | kens5.com

“Even if you’re in debt, start by building a very basic emergency fund even if it’s only $1,000,” said Latham. “Because that will help you to avoid getting ...
Murder suspect’s family says mental health system has failed

Murder suspect’s family says mental health system has failed

“There was nothing we could do,” Amanda added. “Nothing,” Krista responded. Brown’s family felt helpless. “He told her, don’t hold your breath because if ...
Feature: Mobile Money Bank Rise Consolidates Economy Culture Among Low-Income Zambians – Xinhua

Feature: Mobile Money Bank Rise Consolidates Economy Culture Among Low-Income Zambians – Xinhua

Sarah Mwamba, a 22-year-old resident of Lusaka who sells vegetables says mobile money banking has helped her as it has instilled a culture of saving. Bwalya is ...
Show next
Compsmag - Latest News from tech, business and health
Logo