Ageas reports first quarter results 2022

Ageas reports first quarter results 2022

• Good commercial start across the business
• Solid operating performance

Key Figures
Result	Group net result excluding RPN(i) was EUR 210 million
Inflows at Ageas’s part	Group inflows were up 5% to EUR 5 billion with increases in both Life and Non-Life and across all regions Life inflows increased by 5% to EUR 3.5 billion driven by new business in China and Unit-Linked in Belgium and Portugal Non-Life inflows were up 5% to EUR 1.4 billion, increasing across all regions
Operating Performance	Combined ratio stood at 96.7%, including 8.5pp impact from adverse weather events in Belgium and the UK Operating Margin Guaranteed stood at 109 bps and Operating Margin Unit-Linked amounted to 40 bps
Balance Sheet	Shareholders’ equity amounted to EUR 11.1 billion or EUR 60.03 per share Group Solvency IIageas ratio remained strong at 203%, well within the Group’s risk appetite and Solvency target General Account Total Liquid Assets as at 31 March 2022 stood at EUR 1.1 billion Life Technical Liabilities excl. shadow accounting of the consolidated entities were down 1% compared to end 2021 to EUR 74.4 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.

Impact24 -- Non-financial and Sustainability Achievements

With Impact24 Ageas puts Sustainability at the heart of everything it does, and the Group continues to work hard on its societal engagement. This quarter MSCI upgraded the Group’s rating by one notch to “A” status. Ageas has been recognised for “Best Sustainable Insurance Solutions (Europe)” by FI.co, a print and online business and finance publication, reflecting a number of different sustainability initiatives at Ageas. Ageas aims to be a Great place to Grow for its people and its current Top Quartile score on Employee NPS (Net Promotor Score) confirms a strong engagement from its employees, while Ageas’s efforts to promote talent, equality and diversity are resulting in good progress in gender diversity in leadership roles, recognised by European Women on Boards.

Hans De Cuyper, CEO Ageas said :
“I am pleased to see that we have made a good start to the year commercially in both Life and Non-Life and across all regions.
In a difficult economic environment, including the on-going impact of Covid in China and of course the conflict at the borders of Europe touching us and the entire world deeply, Ageas is continuing to deliver as a trusted insurer for so many.
Even against the background of volatile financial markets, inflation and storms, the business continues to perform on track, giving us confidence for the year ahead”

 

Attachment

• Read the full press release