Ageas reports 9M 2017 result

Continued excellent operating performance

All 9M 2017 figures are compared to the 9M 2016 figures unless otherwise stated.

Ageas CEO Bart De Smet said: "We are very satisfied with the strong nine-month and third quarter results. The results show that we are delivering against the promises in our Ambition 2018 strategic plan. The combined ratio, margins in guaranteed Life, return on equity and solvency all exceed our targets.

The strong results are driven by an excellent operating performance across all segments, both in Life and Non-Life. In the UK, the results are still affected - as forecast - by the residual impact of the Ogden discount review, but we see an improved performance in the third quarter as a first result of our restructuring plan.

We also see an increase in innovative products and services across all operating companies in the Group, where digitisation and a continued strong focus on the customer play a dominant role.

With regard to the potential Fortis settlement, Ageas took an additional provision of EUR 100 million which allows us to address the Amsterdam Court of Appeal's main concerns on the initial proposal. In the meantime the Court has extended the filing period by eight weeks, providing us with an opportunity to continue to work on an amended and balanced agreement together with all parties until 12 December 2017."