Ageas : 4Q lower non life and liability cap gain, S2 ratio lower, China improving YTD
>Conclusion: Q4 result incl. liability transaction cap gain, S2 ratio lower - For 4Q22 we expect for Ageas an insurance net result of € 296m incl. a € +148m one-off gain related to the FRESH liability transaction and related unwind of a related hedge. Operationally the Continental European non-life (incl. UK) result is likely showing a small loss, and the Asia profit is likely to be small by the China VIR (€ -75m) and no capital gains assumed. In 4Q22, we expect Ageas...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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