Ageas : Positive SBB, Solvency marginally better, profits in line
>Conclusion: Positive SBB, Solvency marginally better, profits in line - It was positive that Ageas announced a € 200m SBB. The Solvency was marginally better than expected. The profits, book value and CSM were all in line with expectations. The basically kept the FY profit guidance unchanged. At first sight somewhat positive by the SBB. We keep our Neutral recommendation.SBB Positive - On SBB Ageas announced a € 200m SBB vs a consensus of about € 100...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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