Ageas reports on its full year 2019 results

Ageas reports on its full year 2019 results

• Best ever full year results
• Fourth quarter result influenced by RPN(i) revaluation and lower UK result
• Proposed gross cash dividend up 20% to EUR 2.65

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

Ageas CEO Bart De Smet said: « 2019 was a remarkable year for Ageas. We closed the year with the best ever result and an Insurance net results of more than EUR 1 billion, thanks to strong performances in Belgium and Continental Europe supported by an exceptionally high result in Asia. Group inflows were also at an all-time high. Connect21, our new strategic plan took an excellent start achieving all targets but one, where we areclosing the gap. Based on these accomplishments, our solid balance sheet and our capacity to generate cash, the Board of Ageas proposes to increase the dividend significantly to EUR 2.65.

The direct impact of insurance claims related to the 2019-nCoV is expected to be limited. However, the indirect impact coming from the economic slowdown and the volatility in financial markets and interest rates could influence our Asian commercial activity and results.

Additionally to the strong 2019 performance and supported by our improved rating, we modernised our capital structure with the tender on the Fresh securities and the successful issuance of two new debt instruments.

As Connect21 is not only about short term targets but also about the Group’s ambitions and objective to create sustainable economic value for all its stakeholders, the Ageas Board of Directors adopted a new Corporate Governance Charter, confirming the Group’s commitment to live up to its purpose to be a ‘Supporter of your Life’.»

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