Ageas releases full-year earnings report

Insurance group Ageas, which operates in Europe and Asia, has announced its financial results for 2022.

Here’s how the insurer performed in the period, according to its results presentation:

Group net result in 2022 stood at €1.01 billion, an increase from 2021’s €845 million.

Commenting on the numbers, chief executive Hans De Cuyper said in a release: “2022, the first year of our Impact24 strategy, was a challenging year, but also one in which Ageas again delivered a solid performance.

“Commercially we continued to make progress, thanks to Asia and the non-life business. And as a result of the strong operating performance reported in all regions, the group’s net results exceeded €1 billion.”

The CEO, whose camp is donating €1 million following the Turkey-Syria earthquake, added that Ageas’s solid balance sheet allows the insurance group to offer a total gross dividend of €3 per share to shareholders over 2022.

“Throughout the year,” highlighted De Cuyper, “we also took important steps in delivering on our Impact24 strategic ambitions in terms of growth, commercial excellence, integration of data & technology, and sustainability.

“As a result, our non-financial and sustainability targets, reported for the first time, showed good progress on many fronts. I’m very grateful to our people and partners for their valued contribution to this excellent 2022 performance, and I want to thank all our stakeholders for their sustained trust in our company.”

Ageas employs 40,000 people and operates in 14 countries including Portugal, Turkey, France, the UK, and nine countries in Asia.