Ageas : Solid net result with underlying profitability close to our expectations
>Net result close to our expectations excluding non-recurrent items - Ageas yesterday morning reported its Q3 2019 net result, which came in at € 271m, up 26%, in line with our forecast (€ 272m) and slightly better than the consensus (€ 259m). The result for insurance operations alone beat expectations at € 268m (+42% vs a low Q3 2018 base) vs our forecast of € 268m and the consensus of € 239m, but most of the beat stems from a higher-than-expected level of realised c...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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