Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.
  • TickerAGS
  • ISINBE0974264930
  • ExchangeEuronext Brussels
  • SectorLife Insurance
  • CountryFrance
Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

More cracks begin to show Weaker than expected data out of China and an as-expected 0.1% preliminary GDP contraction for the 2nd quarter in Germany has global equities back on the defensive, with the MSCI ACWI, ACWI ex-US, and EAFE back near logical support. In last week's Int'l Compass we noted that some cracks are beginning to show in the form of STOXX 600 Banks and Brent crude breakdowns, which led us to believe global equities are vulnerable to a breakdown. Below we highlight more cracks that are showing, which only increases the likelihood that equities may be poised to break down. • Mo...

Matthieu DRIOL

Short term view - AGEAS (ex. FORTIS) : Prices recovered.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €47.18.

Matthieu DRIOL

Analyse court terme - AGEAS (ex. FORTIS) : Les cours se sont repris.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 47,18 €.

Matthieu DRIOL

Short term view - AGEAS (ex. FORTIS) : Falling prices.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €41.00.

Matthieu DRIOL

Analyse court terme - AGEAS (ex. FORTIS) : Les cours baissent.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 41,00 €.

Bart Cuypers ...
  • Guy Sips
  • Jason Kalamboussis
  • Joachim Vansanten
  • Michiel Declercq
  • Ruben Devos

Morning Note: AGS BB, ATEB BB, BAMNB NA, GIMB BB, KIN BB, Telecom

Ageas: Majority shareholder in its Indian JV (49%, c2.5x BV) Atenor: Signing lease agreement for The One BAM Group: € 40m charge taken on an old 2009 project Gimv: Televic In, Contraload Out Kinepolis: Not fear but content will be the driver Telecom: Nethys will launch new process for the sale of VOO

Stephane Houri

Accor : Digitisation post-COVID: what consequences for our sectors and stocks?

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. - >Accelerated digitisation, no turning back - The COVID-19 crisis will without a doubt accelerate use of digital in society in general. The effectiveness of teleworking has...

Stephane Houri

Ageas : Digitalisation post-COVID : quelles conséquences sur nos secteurs et valeurs ?

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. - >Digitalisation accélérée, pas de retour en arrière - La crise du COVID-19 va sans aucun doute accélérer l’utilisation du numérique dans la société en général. Le télétravail a ...

Alan Vandenberghe ...
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: AGS BB, ATEB BB, BPOST BB, GREEN BB, IVA FP, RET BB, SEQUA:BB, UMI BB

Ageas: Chinese premiums growth back on track in style Atenor: Sale of last office building Au Fil Des Grands Pres bpost: CEO mentioned in potential market abuse case Greenyard: No surprises for FY19/20, guidance a bit soft Inventiva: Lanifibranor sets the new bar in NASH treatment Retail Estates: Increase of estimates post rent deal Sequana Medical: MOSAIC alfapump study results published Umicore: Issues € 500m convertible bonds Dynamic Top Pick List: Adding Inventiva to the dynamic topic list

Guy Sips ...
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Thomas Couvreur
  • Wido Jongman

Morning Note: AGS BB, CPINV BB, ENX FP, FAGR BB, INTO BB, TERB BB

Ageas: Settlement of litigation with Modrikamen, no impact CP Invest: No EPRA inclusion after all Euronext: May trading volumes Fagron: Key shareholder Alychlo partially sells stake IO&W: Acquisition of Rietvelden for € 12.1m Ter Beke: Opt for contribution of dividend against new shares

Carine Maciol

Ageas : Diversification, solvency, liquidity, Ageas boasts resilience

>Strengths/Opportunities - Ageas boasts strong positions in Belgium where it is the leading life insurer, Asia (well positioned in China and eight other countries through partnerships with local operators) and mature European markets (UK and Portugal). The group has realigned its business following divestments in Hong Kong, Italy and Luxembourg.Geographical and product diversification provide a strong and stable earnings base. The solid solvency margin of 20...

Carine Maciol

Ageas : Diversification, solvabilité, liquidité, Ageas a les moyens de résister

>Forces/Opportunités - Ageas dispose de positions fortes en Belgique où il est le premier assureur vie, en Asie (fort positionnement en Chine et dans 8 autres pays, à travers des partenariats avec des acteurs locaux) et dans des marchés matures européens (Grande Bretagne, Portugal). Le groupe s’est recentré, avec les cessions à Hong Kong, en Italie et au Luxembourg.La diversification géographique et le mix produit assurent une assise stable et forte de résultats....

ageas SA/NV: Update to credit analysis

Rating rationale for ageas SA/NV’s A3 long term issuer rating

Carine Maciol

Ageas : Purchase of FRESH on track, inaugural RT1 issuance under way

Publication date 03/12/2019 11:17 - Writing date 03/12/2019 11:14 - Equity data - Reco : - Target : EUR - Equity Analyst: Benoit Valleaux - - +33 (0)1 55 35 42 75 - ESG Analyst: xxx - Corporate Governance: Strong opportunity (1) - / - / - - / - - - - - - - - - - - - - - - - - - Ageas has today announced that a 65.4% majority (€ 817,500,000) of the aggregate principal amount of the FRESH securities outstanding consented to amend the conditions of the FRESH. Now tha...

Carine Maciol

Ageas : Rachat de la FRESH en bonne voie, émission de sa première RT1 en cours

Ageas annonce ce matin qu’une majorité de 65,4% (EUR 817.500.000) du montant nominal cumulé des titres FRESH en circulation a consenti à modifier les conditions des FRESH. Le consent obtenu, par conséquent, Ageasfinlux poursuit son offre de rachat. Les détenteurs de titres FRESH qui n’ont pas encore participé à l’offre peuvent le faire jusqu’au 3 janvier 2020 à 10:00 CET (offre à 56%). Les résultats définitifs de l’offre d’achat seront annoncés le 3 janvier 2020 après la clôture....

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2020

...

Benoit Valleaux ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Martial Descoutures
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/11/2020

Like a phoenix rising from its ashes, the US shale industry weathered the 2014 crisis and even continued to gain market share. Five years on, the sector has to contend with a veritable slump in WTI prices and this time around, there will be “a problem in Houston”. This time shale output is likely to fall and drilling equipment manufacturers will not escape completely unscathed, notably because of the risk of asset impairments. Once again, resilience will be measured by the ability to ...

Benoit Valleaux ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Martial Descoutures
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/05/2020

Tel le phénix qui renait de ses cendres, l’industrie du schiste américain avait survécu à la crise 2014 et même continué à gagner des parts de marché. 5 années plus tard, le secteur doit faire face à un véritable crash des cours du WTI et cette fois-ci, il y aura « un problème du côté de Houston ». La production du schiste devrait baisser et les équipementiers de forage n’en sortiront pas complètement indemnes, avec notamment un risque de dépréciations d’actifs. Une nouvelle fois, la ...

Benoit Valleaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Nicolas Thorez
  • Nicolas David
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2020

The impacts of the COVID-19 pandemic are massive on the hotel/leisure sector (2020e EPS forecast down 41%). They undermine the weakest players. Our preference henceforth goes to the most resilient business models and the most solid balance sheets; Advantage Accor and Whitbread. - ...

AGEAS SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of AGEAS SA (NL), a company active in the Life Insurance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 16, 2020, the closing price was EUR 33.49 and its potential was estimated at EUR 39.24.

AGEAS SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of AGEAS SA (BE), a company active in the Life Insurance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 16, 2020, the closing price was EUR 33.49 and its potential was estimated at EUR 39.24.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Ageas – AGM 20 May 2020

Annual General Meeting   ECGS considers the remuneration report (Item 3.1) soundly disclosed for Belgian standards and the amounts are acceptable. However, ECGS does not approve of LTIs plans that do not operate one or more clearly disclosed challenging performance conditions. Concerning the remuneration policy (Item 3.2), a general lack of ex-ante disclosure about the LTIs always leads us to oppose.   Ms. Lucrezia Reichlin (Item 4.2) attended 85% of board meetings in 2019 and 70% in 2018. ECGS has concerns over aggregate time commitments and recommends to oppose.   Extraordinary General...

Expert Corporate Governance Service (ECGS)

Ageas – EGM 18 April 2020

Referring to past experience, ECGS draws shareholders' attention on the fact that this EGM will not attain the required attendance quorum ±i.e. that at least 50% of the capital must be represented ±and that thus no valid decisions will be made during this meeting.   Concerning item 2, we appreciate the company's willingness to adapt its articles of association to the new Belgian Companies and Associations Code. We therefore fully approve the requested changes.   Under item 3, the board of directors seeks authorisation to repurchase own shares. ECGS notes that the maximum (re-)purchase pr...

Expert Corporate Governance Service (ECGS)

Ageas - AGM and EGM 15 May 2019

We note that, as announced in ECGS' previous analysis, the Company confirms that the Extraordinary General Meeting of Shareholders of 18 April 2019 has not achieved the required attendance quorum. It was thus unable to decide validly regarding its agenda items. A new Extraordinary General Meeting will therefore be convened after the AGM, which, regardless of the share capital represented, will be able to deliberate validly regarding all agenda items. In general, Ageas is in compliance with the Belgian regulations relating to the organization and procedures of the (Annual and Extraordinary) Ge...

Expert Corporate Governance Service (ECGS)

Ageas April 18th, 2019

ECGS draws shareholders' attention on the fact that this EGM will not attain the required attendance quorum – i.e. that at least 50% of the capital must be represented – and that thus no valid decisions will be made during this meeting.In general, Ageas is in compliance with the Belgian regulations relating to the organisation and procedures of this Extraordinary General Meeting (EGM). Under item 3, the board of directors seeks authorisation to repurchase own shares. ECGS notes that the maximum (re-)purchase price is above 10% of market price on purchase date, which is not in accordance with ...

AGEAS – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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