Ageas reports on third quarter results 2020

Ageas reports on third quarter results 2020

• Third consecutive strong quarterly net result, driven by an excellent Non-Life
• Solid underlying operating performance both in Life and Non-Life for the quarter, mitigating specific impairments in Asia
• Solvency position up and well above the target level

A complete overview of the figures can be viewed on the Ageas website.
Key figures and main highlights on the segments can be found in the Annexes of this press release

Ageas CEO Hans De Cuyper said: "I am very pleased that even in these persistently challenging times caused by the pandemic, our activities continue to show strong resilience. The third quarter saw inflows increase in most segments and an improved underlying operational performance in both Life and Non-Life. Specific impairments on equity in Asia and lower recurring investment income from dividends and real estate revenues resulted in slightly lower insurance net profits. Year-to-date profits as well as our solvency and cash position remain strong. Consequently, and assuming no material impact from the financial markets in the last weeks of the year, we remain confident that we will be able to achieve a result close to our initial guidance. I want to thank all our employees and partners for their commitment in helping all our customers and engagement towards society through these exceptional times.”

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• Read the full press release