The net result of Insurance increased from 960 million euros to 1.070 billion euros, Ageas announced on Wednesday.
“I am very happy and proud that in a year marked by a difficult economic environment, rising inflation and extreme weather, all of our businesses recorded solid commercial and operational performances, which translated into growth at two digits of our collection of 40 billion euros and an excellent net Insurance result of more than one billion euros.
The Group’s performance was further strengthened by a very good fourth quarter, particularly in Asia, while our focus on unit-linked products, which require less capital, contributed to the significant increase in the Life result”, said Hans De Cuyper, CEO of Ageas.
Inflows in Life (100%) were up 11% to 32 billion euros “thanks to solid sales of unit-linked products”.
Inflows in Non-Life (at 100%) rose sharply to reach eight billion euros, mainly thanks to Belgium and including Taiping Re.
The Group’s net income amounted to 845 million euros. The net result of Insurance reached 1.070 billion euros. Ageas will propose a gross dividend of 2.75 euros per share.
“I am very happy and proud that in a year marked by a difficult economic environment, rising inflation and extreme weather, all of our businesses recorded solid commercial and operational performances, which translated into growth at double digits of our inflows to 40 billion euros and an excellent Insurance net result of more than 1 billion euros The Group’s performance was further reinforced by a very good fourth quarter, particularly in Asia, while , that our focus on unit-linked products, which require less capital, contributed to the significant increase in the Life result”, said Hans De Cuyper, CEO of Ageas. Inflows in Life (100%) were up 11% to 32 billion euros “thanks to solid sales of unit-linked products”. Non-Life inflows (at 100%) rose sharply to €8 billion, mainly driven by Belgium and the inclusion of Taiping Re. Group net income was 845 millions of euros. The Insurance net result reached 1.070 billion euros. Ageas will propose a gross dividend of 2.75 euros per share.
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