Ageas : Positive on SBB, Solvency marginally better, profits in line, TP somewhat up
>Conclusion: Positive on SBB, Solvency marginally better, profits in line - It was positive that Ageas announced a € 200m SBB. The 1H24 profits, the book value and CSM were all in line with expectations and they basically kept the FY24 profit guidance unchanged, so we did not have to change our estimates in any material way. Operationally the business is going well in Belgium, Portugal and the UK. The Solvency end-1H24 was marginally better than expected supported by ...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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