Ageas : Decline in capital gains in life-insurance, but a good performance in P&C
>A mixed performance by sector and country - Yesterday morning Ageas published a net result of € 214m for Q3 2018 (x2.8 vs Q3 2017), a shade below the consensus (€ 22m est.), and slightly above our forecast (€ 204m est.). We note a result that was short of forecasts in life insurance (at € 90m vs € 129m for the consensus), due to a lower-than-anticipated result in Belgium (decline in the level of capital gains generated) and China (impairment charges on the equity po...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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