GlobeNewswire

Ageas reports on Q3 results

Share
  • Solid year-to-date result
  • Quarterly result marked by strong operating performance in most businesses combined with strong investment results
 
Net Result
  • Nine months net result stood at EUR 877 million versus EUR 656 million thanks to the Asian Life business and the strong Non-Life performance in Belgium and Continental Europe.
    The revaluation of the RPN(i) liability had a EUR 106 million positive impact on the year-to-date Group net result.
  • Q3 net result significantly up from EUR 214 million to EUR 271 million
  • Q3 Life net result doubled from EUR 90 million to EUR 182 million driven by Belgium and Asia
    Net result in Non-Life fell from EUR 99 million to EUR 86 million mainly due to the challenging UK Motor market
Inflows
  • Nine months Group inflows (at 100%) of EUR 28.5 billion, up 11%, scope-on-scope
  • Q3 Group inflows (at 100%) of EUR 7.5 billion, up 13%, scope-on-scope
    Life inflows up 14% to EUR 5.9 billion and Non-Life up 9% at EUR 1.7 billion (both at 100% and scope-on-scope)
  • Q3 Group inflows (Ageas’s part) up 2% at EUR 3.2 billion, scope-on-scope
Operating
Performance
(at nine months)
  • Combined ratio at 94.7% versus 95.1%
  • Operating Margin Guaranteed at 81 bps versus 93 bps but on track to reach target range of 85 bps to 95 bps
  • Operating Margin Unit-Linked stable at 26 bps
Balance Sheet
  • Shareholders’ equity at EUR 11.2 billion or EUR 58.58 per share
  • Group Solvency IIageas ratio at 199% despite the continuing decrease in yield curve
  • General Account Total Liquid Assets at EUR 1.6 billion, of which EUR 0.6 billion is ring-fenced for the Fortis settlement
  • Life Technical Liabilities excluding shadow accounting of the consolidated entities at 30 September increased by 2% to EUR 73.2 billion

A complete overview of the figures can be viewed on the Ageas website .

Ageas CEO Bart De Smet said: « We delivered another solid operating performance this quarter. The net result continued to benefit from our strict Asset Liability Management in our European operations and the prudent valuation methodology of our assets.
Thanks to the positive impact of the Chinese equity markets in the third quarter, we were able to realise important capital gains. We are equally very satisfied with the strong increase in inflows achieved in most segments this quarter and since the beginning of the year.»


 

Attachment

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Úlfar Freyr Stefánsson appointed Chief Risk Officer of Arion Bank – Gísli S. Óttarsson leaves the Bank25.5.2020 18:50:52 CESTPress release

Úlfar Freyr Stefánsson has been appointed Chief Risk Officer of Arion Bank. Úlfar is taking over from Gísli S. Óttarsson who will be leaving the Bank after having been Chief Risk Officer and a member of the Bank’s executive committee since 2009. Gísli will step down at the end of the month but will continue to work in an advisory capacity for the Bank. Úlfar joined the Bank’s Risk Management division in 2013 after having worked at Kaupthing since 2010, where his positions included head of risk management. Úlfar was Head of Portfolio Risk at Arion Bank from 2013 to 2015, when he took over as Head of Balance Sheet Risk. Úlfar has a doctorate in mathematics from Georgia Institute of Technology and a master’s from the same institution. He also has a BSc in mathematics from the University of Iceland and is a certified securities broker. Benedikt Gíslason, CEO of Arion Bank: “I would like to thank Gísli for his excellent work and vital contribution to the Bank over the years. His successor a

PRESS RELEASE: NACON: 2019/20 ANNUAL RESULTS25.5.2020 18:34:13 CESTPress release

Press release Lesquin, 25 May 2020, 18 :00 hrs Strong growth of profitability in 2019/20: ·Current Operating Profit: 22,6 M€ (+80,3%) ·Net Résult: 15,3 M€ (+41,8%) Outlook 2020/21 : ·Sales between 140 and 150 M€ ·Current Operating Profit Rate: 18% NACON (ISIN FR0013482791) today releases its audited consolidated results for the financial year closing on 31 March 2020 as approved by its Board of directors on 25 May 2020. Consolidated in M€ IFRS03/2020 (4)03/2019 (3) Var.Sales129.4113.1+14.4%Gross margin (1) In % of Sales EBITDA (2) In % of Sales 79.1 61.1% 48.4 37.4% 62.4 55.2% 33.4 29.5%+26.7% +45.0%Result from current operations In % of Sales Non recurrent items (including Bonus Shares)22.6 17.5% (2.0)12.5 11.1% 0.8 +80.3% Operating result In % of Sales20.6 15.9%13.4 11.8%+53.8%Financial result Including currency gain (loss)(0.6)(0.4) Earnings before tax In % of Sales20.0 15.4%13.0 11.5%+53.6%Tax(4.7)(2.2)Net result for the period In % of Sales15.3 11.8%10.8 9.5% +41.8% (1) Gross marg

PRESS RELEASE: BIGBEN: 2019/20 Annual Résults25.5.2020 18:15:16 CESTPress release

Press release Lesquin, 25 May 2020 18:00 2019/20 Annual Résults: ·Sales: 263.5 M€ (+7.3%) ·Current Operating Income: 23.7 M€ (+9.0%) ·Net Résult: 16.2 M€ (-6.3%) New « BIGBEN 2023 » plan: ·2022/23 sales: 350 M€ ·2022/23 Current Operating Income Rate: 13% BIGBEN INTERACTIVE (ISIN FR0000074072) today releases its audited consolidated results for the financial year closing on 31 March 2020 as approved by its Board of directors on 25 May 2020. Consolidated in M€ IFRS03/202003/2019 Change.Sales263.5245.5+7.3%Gross margin (1) In % of Sales EBITDA (2) In % of Sales 108.9 41,3% 52.5 19.9% 97.6 39.8% 44.9 18.3%+11.6% +16.8%Result from current operations In % of Sales Non recurrent items (including Bonus Shares)23.7 9.0% (2.9)21.7 8.9% 0.6 +9.0% Operating result In % of Sales20.8 7.9%22.3 9.1%-6.7%Financial result Including currency gain (loss)(1.1) 0.30.5 1.5 Earnings before tax In % of Sales19.7 7.5%22.8 9.3%-13.3%Tax(3.5)(5.4)Net result for the period In % of Sales16.2 6.2%17.3 7.1% -6.3% Of

Inventiva secures a new patent for lanifibranor in China expanding the protection of its lead product candidate25.5.2020 17:45:00 CESTPress release

New patent granted by the CNIPA is directed at the use of lanifibranor for the treatment of several fibrotic diseases, including NASH, and expires in June 2035 The patent expands the existing patent portfolio for lanifibranor in the world’s second largest pharmaceutical market1 Daix (France), May 25, 2020 – Inventiva (Euronext: IVA), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of non-alcoholic steatohepatitis (NASH), mucopolysaccharidoses (MPS) and other diseases with significant unmet medical need, today announced that the China National Intellectual Property Administration (CNIPA) granted a new patent directed at the use of lanifibranor for the treatment of several fibrotic diseases in China until June 2035. This new patent covers, among others, the use of the Company’s lead product candidate lanifibranor for the treatment of NASH, hepatic fibrosis, chronic renal failure and fibrotic pulmonary disorder. It thereby expands the

CONDITIONS FOR THE RIKSBANK´S PURCHASES OF COMMERCIAL PAPER25.5.2020 16:20:00 CESTPress release

Bid procedure on 27 May 2020 Certificate: Commercial paper issued in SEK by non-financial companies with a registered office in Sweden and with a remaining maturity of up to six months on the Bid date, i.e. with the maturity date on 27 November 2020 at the latest. Delivery may not be made in commercial paper purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after 18 May 2020. Bids: Counterparties may make one bid per Credit rating class and maturity class. Bids are made to tel 08-696 69 70 and confirmed by e-mail to EOL@riksbank.se. Bid date: Wednesday 27 May 2020 Bid time: 0900-0930 hours (CEST) on the Bid date Requested volume: (corresponding nominal amount) SEK 4 billion Highest permitted bid volume: (corresponding nominal amount) The total bid volume from one Counterparty for the two Credit rating classes may not exceed SEK 4 billion. No bid may contain Commercial paper in e