In a strong financial performance for the first half of 2024, Ageas, the international insurance group, has declared an interim gross cash dividend of €1.50 per share. This follows a notable increase in its earnings, reflecting the company’s robust growth and operational success.
Ageas’s half-year earnings report reveals significant improvements across key financial metrics:
Net Result: €642 million, a rise from €531 million in the same period last year.
Net Operating Result: €613 million, up slightly from €611 million.
Combined Ratio: 94.1%.
The company’s inflows also demonstrated impressive growth, with life insurance inflows increasing by 10% to €6.5 billion, and non-life insurance inflows rising by 23% to €3.7 billion. Notably, Ageas reached a milestone with total inflows exceeding €10 billion for the first time.
Hans De Cuyper, Chief Executive Officer, attributed this success to the company’s ongoing Impact24 growth strategy. “We have once again delivered on our Impact24 goals, with excellent performances in both non-life and life insurance segments. Our strong results are supported by significant growth in life insurance inflows in Asia and a robust recovery in Europe,” De Cuyper said.
De Cuyper further emphasized the company’s strong position to meet its full-year guidance, projecting a net operating result between €1.2 billion and €1.25 billion.
In addition to the interim dividend, Ageas announced a €200 million share buyback program, representing approximately 2.5% of the company’s current market capitalization. De Cuyper highlighted the company’s commitment to both financial performance and non-financial goals. “As we approach the end of our three-year strategic plan, we are confident in our ability to meet all targets set under Impact24,” he added.
Ageas continues to expand its presence through subsidiaries and partnerships in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines.
