Ageas : 1H24 net profit in line, Solvency stable, expect € 250m SBB
>Conclusion: 1H24 net profit in line, Solvency stable, expect € 250m SBB - For 1H24 we expect a good net profit of € 590m in line with their FY24 guidance. We see a quite stable Solvency 2 ratio at 216% in 1H24 (excl. potential SBB impact). For the gross cash at holding we see it growing to € 1.5bn by end 1H24. As no acquisition(s) have been done and the solvency is good, we expect Ageas to announce a € 250m SBB at the 1H24 results. Further, we continue to we headwind...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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