Adverse financial markets in China and the strong impact of inflation in the UK and Türkiye have an effect on Ageas’s Q3 2022 internet outcome. Dividend dedication maintained.
On 10 August 2022, whereas commenting on the first half 12 months 2022 efficiency, Ageas confirmed its steerage of EUR 1 billion for the full 12 months 2022 outcome excluding the impact from RPN(i) and beneath the reserve of the impact of excessive unfavourable developments in the financial markets.
Since that point, inflation has additional developed and fairness markets in China have been notably risky. The impact of these developments couldn’t be compensated for by the stable underlying efficiency.
The impact on the Group’s internet outcome by way of unfavourable internet capital positive aspects together with IFRS1 impairments in Asia, and the excessive inflation in the UK and Türkiye quantities to EUR 175 million over the third quarter 2022.
Based on the energy of the steadiness sheet and the Group’s stable internet money place, Ageas maintains its dividend outlook for the 12 months of a DPS2 progress of 9%, together with an EUR 1.5 interim dividend to be paid later this week.
For any additional element, Ageas refers to its 9 months 2022 outcomes publication on Wednesday 9 November 2022 at 07.30am CET.
- According to its IFRS pointers, Ageas accounts for an impairment on equities in the following two conditions:
- The worth of a person fairness at the cut-off date of 1 / 4 is 25% or extra under the historic acquisition value
- The worth of a person fairness at the cut-off date of 1 / 4 is constantly under the historic acquisition value throughout 4 consecutive quarters.
- DPS: Dividend per share
Ageas is a listed worldwide insurance Group with a heritage spanning nearly 200 years. It presents Retail and Business clients Life and Non-Life insurance merchandise designed to go well with their particular wants, at present and tomorrow. As one of Europe’s bigger insurance firms, Ageas concentrates its actions in Europe and Asia, which collectively make up the main half of the world insurance market. It operates profitable insurance companies in Belgium, the UK, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines by way of a mix of wholly owned subsidiaries and long run partnerships with strong financial establishments and key distributors. Ageas ranks amongst the market leaders in the nations in which it operates. It represents a workers pressure of about 40,000 folks and reported annual inflows near EUR 40 billion in 2021 (all figures at 100%).
- Pdf model of the press launch
