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Strong operating performance
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Net result affected by equity market evolutions
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Proposed gross cash dividend of EUR 2.20
Full Year 2018 | |
Net Result | -
Group net result of EUR 809 million versus EUR 623 million. Gross cash dividend increased by 5% -
General Account net result of 12 million versus EUR 337 million negative -
Insurance net result down 17% to EUR 797 million versus EUR 960 million due to scope changes and equity market declines |
Inflows | -
Group inflows (at 100%) of EUR 34.4 billion, up 3.6% at constant exchange rate Group inflows (Ageas's part) slightly up at EUR 14.5 billion (including 1% negative foreign exchange impact) -
Life inflows up 3% to EUR 28.4 billion and Non-Life down 4% at EUR 5.9 billion (both at 100%) |
Operating Performance | -
Combined ratio at 94.3% versus 95.2% despite adverse weather in Belgium, Portugal and the UK -
Operating Margin Guaranteed at 88 bps versus 93 bps -
Operating Margin Unit-Linked at 25 bps versus 27bps -
Life Technical Liabilities of the consolidated entities stable at EUR 73.4 billion |
Balance Sheet | -
Shareholders' equity of EUR 9.4 billion or EUR 48.42 per share -
Insurance Solvency IIageas ratio of 202% and Group Solvency IIageas ratio at 215% -
General Account Total Liquid Assets stable of EUR 1.7 billion, out of which EUR 0.7 billion is ring-fenced for the Fortis settlement |
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Belgium | |
UK | |
Continental Europe | |
Asia | |
All full year 2018 figures are compared to the full year 2017 figures unless otherwise stated.
Ageas CEO Bart De Smet said: " We have achieved a very solid result for the year despite significant equity market declines, achieving 5 out of 6 strategic goals, with an excellent combined ratio across all segments. Based on our continued good financial performance, improved solvency and strong cash generation we propose a gross cash dividend of EUR 2.20, an increase of 5%.
We are also very pleased that the finalisation of the Fortis settlement and the launch of re-insurance activities at holding level have resulted in several agencies improving our credit rating by three notches to solid investment grade."