The solid net profit (€452m, up 80% yoy) was the result of the operation on FRESH securities. The pandemic hit the insurance result, which dropped by 56% to €113m. The operating margin in the Life business declined and the high combined ratio (99.7%) resulted from bad weather conditions. The resilient Solvency II ratio (193% on 30 April) sustains the intention of management to distribute an intermediary dividend of €2.38/share later in 2020, to reach the initially announced div
13 May 2020
Equity market turmoil hits insurance result
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Equity market turmoil hits insurance result
ageas SA/NV (AGS:WBO) | 0 0 0.6% | Mkt Cap: 8,608m
- Published:
13 May 2020 -
Author:
Bassem Neifer -
Pages:
2
The solid net profit (€452m, up 80% yoy) was the result of the operation on FRESH securities. The pandemic hit the insurance result, which dropped by 56% to €113m. The operating margin in the Life business declined and the high combined ratio (99.7%) resulted from bad weather conditions. The resilient Solvency II ratio (193% on 30 April) sustains the intention of management to distribute an intermediary dividend of €2.38/share later in 2020, to reach the initially announced div