Ageas: shares up after strong set of first-half results.
(CercleFinance.com) - Belgian insurer Ageas has delivered a strong set of first-half numbers on Wednesday, driven by continued growth in the life segment in Asia.
Its net insurance income rose by 12% in the first half to 445 million euros, up from 396 million euros a year ago.
Overall, group net income improved to 284 million euros, compared to a loss of 67 million euros in the first six months of 2016.
Ageas, formerly Fortis' insurance division, said life inflows grew 14% to 17.2 billion euros in the first half, while non-life inflows dropped 2% to 3.3 billion euros.
At the operating level, its combined ratio - a key industry indicator that compares costs plus claims to revenues - improved to 95.9%, versus 99%.
In this context, Ageas has decided to continue to buy back its own shares by launching a new programme of 200 million euros.
Listed on Euronext Brussels, Ageas shares were edging up 1.6% at 39.6 euros after these announcements were made.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Its net insurance income rose by 12% in the first half to 445 million euros, up from 396 million euros a year ago.
Overall, group net income improved to 284 million euros, compared to a loss of 67 million euros in the first six months of 2016.
Ageas, formerly Fortis' insurance division, said life inflows grew 14% to 17.2 billion euros in the first half, while non-life inflows dropped 2% to 3.3 billion euros.
At the operating level, its combined ratio - a key industry indicator that compares costs plus claims to revenues - improved to 95.9%, versus 99%.
In this context, Ageas has decided to continue to buy back its own shares by launching a new programme of 200 million euros.
Listed on Euronext Brussels, Ageas shares were edging up 1.6% at 39.6 euros after these announcements were made.
Copyright (c) 2017 CercleFinance.com. All rights reserved.