Ageas reports first quarter 2020 results

Ageas reports first quarter 2020 results

• First quarter Group net result strongly supported by exceptional non-cash one-off
• Overall solid underlying operational performance mitigating lower investment result due to Covid-19 pandemic
• Strong solvency and cash position

A complete overview of the figures can be viewed on the Ageas website.
Key figures and main highlights on the segments can be found in the Annexes of this press release

Ageas CEO Bart De Smet said: «The Covid-19 pandemic has been impacting society in ways that we have never seen before. In these turbulent times and under sometimes difficult circumstances our employees across the business made sure that our customers could continue to benefit from the service levels they expect from us. Thanks to our specific and diversified business portfolio focused on insurance for individuals and smaller businesses, the direct impact on our commercial activities and claims remained limited. Our prudent investment strategy means that we have also been able to maintain a robust solvency position. Given that a return to normal is unlikely to happen quickly, the impact of the pandemic on the economy and the financial markets will most likely continue to affect Ageas’s performance and results throughout the year. As a consequence of these external uncertainties, Ageas cannot confirm its profit guidance for 2020.»

Attachment

• Read the full press release