Ageas reports Q1 2018 result
- Very strong Insurance results supported by exceptional results in China
- Solid operating performance across all segments
|Net Result|| |
| Operating |
|Balance Sheet|| |
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All Q1 2018 figures are compared to the Q1 2017 figures unless otherwise stated.
Ageas CEO Bart De Smet said: "Continuing the outstanding 2017 results, we are pleased that both our Life and Non-Life businesses have once again delivered a solid performance which resulted in a good first quarter operating result despite the impact of adverse weather in Belgium and in the UK. This, combined with an exceptionally high contribution from China, allows us to report a very strong first quarter Insurance net result. While inflows decreased slightly this is compensated by an improvement in terms of quality. In China this was as a consequence of regulatory changes which led to a move away from high volumes of short term single premium business towards regular premium products and in the UK, it is was because of our deliberate choice to opt for profitability over volumes. In Belgium however we witnessed a renewed growth in inflows in both Life and Non-Life."