Ageas : Q3 results in line, Asia life headwinds remains
>Conclusion: Q3 results in line, Asia life headwinds remains - The 3Q22 earnings were in line with our expectations. The non life combined ratio was somewhat better that expected supported by some reserve releases. The Solvency and cash at holding were also in line with expectations whereby markets was less but model updates were better than expected in the S2 ratio. For 4Q22 there remain some headwinds from China/Asia life. We keep our Neutral recommendation.§hp...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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