Report
Cor Kluis

Ageas : Solvency less, non life better, life in line

>Conclusion: Solvency less, non life better, life in line - End 3Q21 the Solvency was less than expected by cost inflation, higher real estate prices and re-risking. The 3Q21 life result excl. capital gains was in line. The non life result ex cap gains was better than expected by lower claims, and they see until now -by good weather- also a good non life result in Q4. The China VIR cost is again somewhat higher than expected at € -61m in a quarter, probably this negat...
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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