Report
Cor Kluis

Ageas : Q3 non-life result good and to be good in Q4 as well, M&A just speculation

>Conclusion: Q3 non-life result better and to be good in Q4 as well - The 3Q21 results were higher than expected by better non-life results and higher capital gains. As a result of the reinstated lockdowns Ageas is likely to get a strong 4Q21 non-life profit in Belgium. In 3Q21 the earnings pressure in China was somewhat higher than expected by lower interest rates (VIR) and we expect this to continue the next few quarters. The 3Q21 Solvency was less than expected esp...
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
Cor Kluis

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