Report
Henry Heathfield
EUR 100.00 For Business Accounts Only

Ageas' First Half: Good Numbers in Traditionally Good Quarter Two; Shares Overvalued

Ageas reported an insurance net result of EUR 475 million, an increase of 7% on the comparable period of EUR 445 million. The main driver of the improvement in the Group net result to EUR 441 million from EUR 284 million in 2017 was the improvement in the General Account result. We are maintaining our EUR 42.0 fair value estimate and no-moat rating.
Inflows at Group level came in at around EUR 20 billion and this was spread across life, EUR 17 billion, and non-life, EUR 3.1 billion. In total, Gr...
Underlying
Ageas N.V. ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Henry Heathfield

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