Ageas SA/NV: Uncertain timeline to settle legacy issues is credit negative
FINANCIAL INSTITUTIONS ISSUER COMMENT 23 October 2017 RATINGS Ageas SA/NV Outlook Positive Issuer Rating Baa3 Ageasfinlux S.A. Outlook Positive Backed Junior Subordinate Ba3 (hyb) KEY METRICS: Ageas SA/NV (as reported, in euro millions) 2016 2015 2014 Total assets 104,294Ageas 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.
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