Ageas : Very good net profit in Q2 and dividend confirmed in Q4
>Net profit ahead of expectations in Q2 - Ageas reported its Q2 2020 net profit, which came in at € 339m (-4.4% vs very high net profit in Q2 2019 inflated by non-recurring gains), at an excellent level and well ahead of expectations (consensus € 215m, ODDO BHF’s forecast: € 247m). Net income for insurance activities totalled € 378m (+10%), ahead of expectations, notably in Asia and, to a lesser extent in Belgium (€ 127 million, +11%). Ageas had virtually no COVID-rel...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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