Ageas: posts higher profit on growth in Belgium, Asia

(CercleFinance.com) - Insurance group Ageas on Wednesday reported slightly higher first-quarter profit, helped by growth at its Belgian domestic market and Asia.


Net profit rose to 251 million euros in the first three months of the year, the company said, above the 248 million euros posted for the first quarter of 2018.

Ageas said its Asian activities benefited from a recovery in the Chinese equity markets, while gaining from a positive, albeit small, contribution from recent investment in India.

In all, Ageas said that it has had a good start to the year.

"We are very pleased with the strong sales momentum recorded this first quarter, especially in Belgium, Portugal and Asia where we continued to strongly increase our inflow," Ageas CEO Bart De Smet said.

Yet, the Ageas shares are down this morning in Brussels, slipping 1% to 44.8 euros.

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