Ageas : Net result driven by one-offs but also good underlying profitability
>Strong growth in the net result due to non-recurring items - Ageas released its Q2 2019 earnings yesterday morning. The group’s net result was € 355m in the quarter, up 83%, significantly outstripping forecasts (consensus € 289m, our estimate € 266m). The gap with expectations stemmed mainly from a much-higher-than-expected result in Asia at € 185m (x3) vs the consensus forecast of € 107m. The very high result in Asia (and in particular in China) includes various non...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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