Ageas: Q2 net income up 83%

(CercleFinance.com) - The Belgian assurer Ageas has published Q2 2019 net income that is up 83% at 355 million euros, boosted by net income from life assurance that more than doubled, to 262 million euros, following an exceptional result in Asia.


Meanwhile, net non-life income rose by 48% to 81 million euros, thanks to sound performance in Belgium and Portugal and to the release of the reserve following Ogden in the UK.

On 28 July, the period for lodging applications for the Fortis settlement ended. The processing of initial payments of several cases are now underway, CEO Bart De Smet also said.

Alongside these results, Ageas said that its Board of Directors has decided to implement a new share repurchase program for ordinary shares in issue, amounting to 200 million euros.


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