Ageas reports Full Year 2015 Results

• Insurance net profit of EUR 755 million with a record performance in Asia and solid results in Belgium
• Strong Non-Life results despite December floods in the UK
• Insurance Solvency II _ageas ratio at 182 %
• Proposed gross cash dividend of EUR 1.65, up 6.5% compared to last year

All full year 2015 figures are compared to the full year 2014 figures unless otherwise stated.

Ageas CEO Bart De Smet said: "2015 was a very good year for the Group underpinned in particular by excellent results from our Asian Life business and a solid performance in Belgium. This performance was achieved against a backdrop of volatile equity markets in Asia and Europe. Our Non-Life performance was excellent, notwithstanding the impact of EUR 64 million from the December floods in UK.

When we look back at the past 3 years, we can confidently say that we made good progress against our Vision 2015 choices and targets. With Vietnam and the Philippines, we entered two new growth markets in Asia. We are also in the process of closing the acquisition of AXA Portugal, which moves us to the No.3 position in the Portuguese Non-Life market, and divesting our Hong Kong activities. Our Vision 2015 strategy brought an increased focus on financial targets for our Group. We achieved sustainable growth and improved our operating performance, and have largely delivered on our promises. Building on our past achievements, we launched 'Ambition 2018' at the end of 2015, including more refined financial targets and a sharpened strategic focus centred on the key trends impacting our business.

An important change in regulation, Solvency II, went live on January 1^st, 2016. After years of detailed preparation, Ageas transitioned smoothly, and based on our 2015 results, our current insurance Solvency II ratio exceeds our target.

2015 was also another year in which we delivered for our shareholders. We launched our 5^th consecutive share buy-back programme, and, over the course of the year, the Ageas share was the best performing insurance stock in Europe. Based on our results we will propose to our shareholders a 6.5% increase in the gross cash dividend to EUR 1.65 per share."