Report
Benoit Valleaux

Ageas : Net result and solvency margin shy of expectations

>Net result undershot expectations - Ageas reported yesterday morning (Wednesday, 19 February) its 2019 net result which came in at € 979m (+21%), with a net result of € 102m (-33%) for Q4 2019 alone, below expectations (consensus of € 136m, ODDO BHF’s estimate of € 130m). Note that the net result for insurance activities alone totalled € 233m in Q4 2019, up sharply relative to an undemanding comparative base in Q4 2018, penalised by non-recurring items in China. By g...
Underlying
Ageas SA/NV

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

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