Ageas reports first half-year results 2023

Ageas reports first half-year results 2023

• Net Operating Result of EUR 599 million confirmed by an excellent Operational Capital Generation
• Net Operating Result came in 30% higher (under new accounting standards), confirming the strength of Ageas’s performance
• Solid commercial performance in Life in China and in Non-Life across all segments
• An interim dividend of EUR 1.5 per share will be paid out, consistent with last year

An overview of the figures and comparison with previous year can be found on page 5 of this press release and on the Ageas website.

Hans De Cuyper, CEO Ageas commented : "We delivered a strong first half, with a solid commercial performance in Life in China and in Non-Life across all segments. All operating entities showed resilience under continued turbulence in the financial markets in Europe and China. Thanks to our strong business performance and Operational Capital Generation, we are confident we will reach a Net Operating Result between EUR 1.1 and 1.2 billion for 2023. The Ageas Board has decided to pay out an interim gross cash dividend of EUR 1.5 per share and we intend to repeat this on an annual basis going forward. These half year results are the first under the new IFRS accounting standards, and we welcome the greater transparency they offer as it better reflects our performance, especially in respect of the contribution made by both our Asian participations and our Life business. The new standards confirm our strong results and show the solidity of our company with a Comprehensive equity of almost EUR 16 billion. Having reached the midpoint of our Impact24 strategy, I am proud of the significant achievements realised so far, and of our resolute approach to delivering against all of our KPIs. To conclude, I would like to thank our finance teams across the Group for their exceptional efforts in ensuring a seamless transition to IFRS 17”.

Attachment

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